M&A Deal Summary

Consumers National Bank Acquires Higher One Holdings - Disbursements Business

On December 15, 2015, Consumers National Bank acquired financial services company Higher One Holdings - Disbursements Business from Higher One Holdings for 37M USD

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

M&A Deal Summary
Date 2015-12-15
Target Higher One Holdings - Disbursements Business
Sector Financial Services
Buyer(s) Consumers National Bank
Sellers(s) Higher One Holdings
Deal Type Divestiture
Deal Value 37M USD

Target

Higher One Holdings - Disbursements Business

United States
Higher One Holdings - Disbursements Business includes its proprietary Refund Management® Disbursement Service and the OneAccount. Refund Management® Disbursement Service streamlines the financial aid refund disbursement process for more than 800 college and university campuses across the U.S. and the OneAccount is an FDIC-insured checking account offered through Higher One’s bank partners to more than two million college students.

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Buyer(S) 1

Buyer

Consumers National Bank

Malvern, Pennsylvania, United States
Category Company
Founded 1994
Sector Financial Services
Employees732
Revenue 741M USD (2023)
DESCRIPTION

Consumers National Bank is a bank holding company with assets of approximately $550 million whose common stock is traded on the OTCQX Best Market. Consumers operate 15 full-service locations and one loan production office in Carroll, Columbiana, Jefferson, Stark, Summit, and Wayne counties in Ohio. Consumers National Bank was founded in 1994 and is based in Malvern, Pennsylvania.

DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 2
Type (Divestiture) 1 of 1
Country (United States) 1 of 2
Year (2015) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-14 The Peoples National Bank of Mount Pleasant

Mount Pleasant, Ohio, United States

The Peoples National Bank of Mount Pleasant is a bank holding company with approximately $79 million in assets. Its subsidiary, The Peoples National Bank of Mt. Pleasant, was founded in 1903 and operates three branches in Mt. Pleasant, Dillonvale and Adena, Ohio.

Buy -

Seller(S) 1

SELLER

Higher One Holdings

New Haven, Connecticut, United States
Category Company
Founded 2000
Sector Business Services
Employees1,300
Revenue 158M USD (2015)
DESCRIPTION

Higher One Holdings, Inc. is a provider of electronic financial disbursement and payment solutions for universities and their students that save the time and expense associated with handling financial aid refunds, on-campus and community purchases, payment collections, and more.

DEAL STATS #
Overall 2 of 2
Sector (Financial Services) 1 of 1
Type (Divestiture) 2 of 2
Country (United States) 2 of 2
Year (2015) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-19 Campus Labs

Buffalo, New York, United States

Campus Labs is a provider of assessment tools for colleges and universities. Campus Labs provides a software platform for colleges and universities to make data-driven, strategic decisions ranging from accreditation to student retention to effective operations. Campus Labs was founded in 2001 and is based in Buffalo, New York.

Sell $91M
Mergr

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