M&A Deal Summary

CNB Bank Acquires Lake National Bank

On December 30, 2015, CNB Bank acquired financial services company Lake National Bank for 25M USD

Acquisition Highlights
  • This is CNB Bank’s 1st transaction in the Financial Services sector.
  • This is CNB Bank’s largest (disclosed) transaction.
  • This is CNB Bank’s 1st transaction in the United States.
  • This is CNB Bank’s 1st transaction in Ohio.

M&A Deal Summary
Date 2015-12-30
Target Lake National Bank
Sector Financial Services
Buyer(s) CNB Bank
Deal Type Add-on Acquisition
Deal Value 25M USD
Advisor(s) Boenning & Scattergood, Inc. (Financial)
Dinsmore & Shohl (Legal)

Target

Lake National Bank

Mentor, Ohio, United States
Lake National Bank is a provider of financial services to small business and consumer customers with a focus on real estate and commercial lending.

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Buyer(S) 1

Buyer

CNB Bank

Clearfield, Pennsylvania, United States
Category Company
Founded 1865
Sector Financial Services
Employees722
Revenue 220M USD (2022)
DESCRIPTION

CNB Bank is a full-service bank engaging in a full range of banking activities and services, including trust and wealth management services, for individual, business, governmental, and institutional customers. CNB Bank was incorporated in 1865 and is based in Clearfield, Pennsylvania.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Ohio) 1 of 1
Country (United States) 1 of 1
Year (2015) 1 of 1
Size (of disclosed) 1 of 1
Mergr

Product

Company

Legal