M&A Deal Summary

Citizens Business Bank Acquires Granite State Bankshares

On February 25, 2005, Citizens Business Bank acquired financial services company Granite State Bankshares from Chittenden for 27M USD

Acquisition Highlights
  • This is Citizens Business Bank’s 5th transaction in the Financial Services sector.
  • This is Citizens Business Bank’s 6th largest (disclosed) transaction.
  • This is Citizens Business Bank’s 5th transaction in the United States.
  • This is Citizens Business Bank’s 1st transaction in New Hampshire.

M&A Deal Summary

Date 2005-02-25
Target Granite State Bankshares
Sector Financial Services
Buyer(s) Citizens Business Bank
Sellers(s) Chittenden
Deal Type Divestiture
Deal Value 27M USD

Target

Granite State Bankshares

Keene, New Hampshire, United States
Granite State Bankshares, Inc. provides financial services in US.

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Buyer(S) 1

Buyer

Citizens Business Bank

Ontario, California, United States

Category Company
Founded 1974
Sector Financial Services
Employees1,107
Revenue 547M USD (2023)
DESCRIPTION

Citizens Business Bank holding company for citizens business bank provides financial services. Citizens Business Bank was incorporated in 1974 and is based in Ontario, California.


DEAL STATS #
Overall 5 of 9
Sector (Financial Services) 5 of 9
Type (Divestiture) 1 of 1
State (New Hampshire) 1 of 1
Country (United States) 5 of 9
Year (2005) 1 of 1
Size (of disclosed) 6 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-09-19 Kaweah National Bank

Visalia, California, United States

Kaweah National Bank provides commercial and personal banking services.

Buy $16M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-22 First Coastal Bancshares

El Segundo,, California, United States

First Coastal Bancshares Inc. operates as a holding company for First Coastal Bank, N.A., which provides financial services in southern California.

Buy $36M

Seller(S) 1

SELLER

Chittenden

Burlington, Vermont, United States

Category Company
Founded 1904
Sector Financial Services
Employees1,947
DESCRIPTION

Chittenden Corp., provides various financial services.


DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (New Hampshire) 1 of 1
Country (United States) 1 of 1
Year (2005) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-02-28 Granite State Bankshares

Keene, New Hampshire, United States

Granite State Bankshares, Inc. provides financial services in US.

Buy -