M&A Deal Summary

Fifth Third Bank Acquires Peoples Bank

On November 19, 1999, Fifth Third Bank acquired financial services company Peoples Bank for 259M USD

Acquisition Highlights
  • This is Fifth Third Bank’s 16th transaction in the Financial Services sector.
  • This is Fifth Third Bank’s 11th largest (disclosed) transaction.
  • This is Fifth Third Bank’s 16th transaction in the United States.
  • This is Fifth Third Bank’s 2nd transaction in Indiana.

M&A Deal Summary
Date 1999-11-19
Target Peoples Bank
Sector Financial Services
Buyer(s) Fifth Third Bank
Deal Type Add-on Acquisition
Deal Value 259M USD
Advisor(s) Barnes & Thornburg (Legal)

Target

Peoples Bank

Indianapolis, Indiana, United States
Peoples Bank Corp., is the holding company for Peoples Bank & Trust Company. Peoples Bank provides various banking services.

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Buyer(S) 1

Buyer

Fifth Third Bank

Cincinnati, Ohio, United States
Category Company
Founded 1858
Sector Financial Services
Employees18,657
Revenue 8.5B USD (2023)
DESCRIPTION
Fifth Third Bank branch in Chicago, Illinois.
Fifth Third Bank branch in Chicago, Illinois.

Fifth Third Bank is a regional US-based bank. Fifth Third provides a variety of financial services including commercial lending, consumer lending, and investment advisory. Fifth Third Bank was incorporated in 1858 and is based in Cincinnati, Ohio.

DEAL STATS #
Overall 16 of 37
Sector (Financial Services) 16 of 31
Type (Add-on Acquisition) 16 of 32
State (Indiana) 2 of 2
Country (United States) 16 of 37
Year (1999) 6 of 6
Size (of disclosed) 11 of 25
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-10-29 CNB Bancshares

Evansville, Indiana, United States

CNB Bancshares, Inc., provides various range of retail banking, commercial, financial products and services.

Buy $2.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-12-08 Ottawa Financial

Holland, Michigan, United States

Ottawa Financial Corp., a financial services company. Ottawa Financial provides services in deposits, making commercial, mortgage, and installment loans.

Buy $218M
Mergr

Product

Company

Legal