M&A Deal Summary |
|
|---|---|
| Date | 2022-06-21 |
| Target | GrandSouth Bank |
| Sector | Financial Services |
| Buyer(s) | First Bank |
| Deal Type | Add-on Acquisition |
| Deal Value | 181M USD |
| Advisor(s) | Piper Sandler & Co. (Financial) Nelson Mullins Riley & Scarborough (Legal) |
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| Category | Company |
|---|---|
| Founded | 1948 |
| Sector | Financial Services |
| Employees | 3,113 |
| Revenue | 905M USD (2024) |
First Bank is a financial holding company offering commercial banking, residential mortgage loan, finance lease, personal loan, small loan, auto loan, insurance, and broker dealer products and services to retail, commercial, and institutional customers primarily in Puerto Rico, and to a lesser extent in the U.S. and British Virgin Islands and Florida. First Bank was incorporated in 1948 and is based in San Juan, Puerto Rico.
| DEAL STATS | # |
|---|---|
| Overall | 14 of 14 |
| Sector: Financial Services M&A | 13 of 13 |
| Type: Add-on Acquisition M&A Deals | 7 of 7 |
| State: South Carolina M&A | 1 of 1 |
| Country: United States M&A | 12 of 12 |
| Year: 2022 M&A | 1 of 1 |
| Size (of disclosed) | 3 of 7 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2019-10-21 |
Banco Santander S.A. - Puerto Rico
Puerto Rico Banco Santander Puerto Rico operates as a bank and offers checking and savings accounts, credit cards, insurance, annuities, payments, collection, deposits, loans, and other banking services. Banco Santander Puerto Rico serves customers in Puerto Rico. |
Buy | $63M |
