M&A Deal Summary

First Bank Acquires Delanco Bancorp

On October 18, 2017, First Bank acquired financial services company Delanco Bancorp for 14M USD

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

M&A Deal Summary
Date 2017-10-18
Target Delanco Bancorp
Sector Financial Services
Buyer(s) First Bank
Deal Type Add-on Acquisition
Deal Value 14M USD
Advisor(s) FinPro Capital Advisors (Financial)
Kilpatrick Townsend & Stockton LLP (Legal)

Target

Delanco Bancorp

Delanco, New Jersey, United States
Delanco Bancorp, Inc. was a holding company for Delanco Federal Savings Bank. Delanco Federal Savings Bank is a community-oriented financial institution which operates from two offices in Burlington County, New Jersey and is engaged primarily in the business of attracting deposits from the general public and using such funds to originate a variety of consumer and business loans. Delanco Bancorp was based in Delanco, New Jersey.

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Buyer(S) 1

Buyer

First Bank

Hamilton, New Jersey, United States
Category Company
Founded 2007
Sector Financial Services
Employees288
Revenue 104M USD (2023)
DESCRIPTION

First Bank is a New Jersey state-chartered bank with 14 full-service branches in Cranbury, Denville, Ewing, Flemington, Hamilton, Lawrence, Randolph, Somerset and Williamstown, New Jersey, and Trevose, Doylestown, Warminster, Bensalem and Levittown, Pennsylvania. With $1.2 billion in assets as of June 30, 2017, First Bank offers a traditional range of deposit and loan products to individuals and businesses throughout the New York City to Philadelphia corridor. First Bank was founded in 2007 and is based in Hamilton, New Jersey.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (New Jersey) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
Mergr

Product

Company

Legal