M&A Deal Summary

Coastal Banking Acquires First Avenue National Bank

On April 7, 2016, Coastal Banking acquired financial services company First Avenue National Bank

Acquisition Highlights
  • This is Coastal Banking’s 1st transaction in the Financial Services sector.
  • This is Coastal Banking’s 1st transaction in the United States.
  • This is Coastal Banking’s 1st transaction in Florida.

M&A Deal Summary
Date 2016-04-07
Target First Avenue National Bank
Sector Financial Services
Buyer(s) Coastal Banking
Deal Type Add-on Acquisition

Target

First Avenue National Bank

Ocala, Florida, United States
First Avenue National Bank is a provider of banking products and services. Company has $112 million in assets, $98 million in deposits, and $81million in gross loans.

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Buyer(S) 1

Buyer

Coastal Banking

Beaufort, South Carolina, United States
Category Company
Founded 1999
Sector Financial Services
Employees410
Revenue 78M USD (2015)
DESCRIPTION

Coastal Banking Company Inc., headquartered in Beaufort, S.C., is the $464.7 million-asset bank holding company of CBC National Bank, headquartered in Fernandina Beach, Fla., which provides a full range of consumer and business banking services through full-service banking offices in Beaufort, Fernandina Beach, and Port Royal, S.C. The company's residential mortgage banking division, headquartered in Atlanta, includes traditional retail and wholesale lending, as well as a National Retail Group that has lending offices in Arizona, Florida, Georgia, Maryland, Michigan, Indiana, Illinois and Ohio.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Florida) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
Mergr

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Company

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