M&A Deal Summary

First Citizens Bank Acquires Entegra Financial

On April 24, 2019, First Citizens Bank acquired financial services company Entegra Financial for 219M USD

Acquisition Highlights
  • This is First Citizens Bank’s 8th transaction in the Financial Services sector.
  • This is First Citizens Bank’s largest (disclosed) transaction.
  • This is First Citizens Bank’s 8th transaction in the United States.
  • This is First Citizens Bank’s 2nd transaction in North Carolina.

M&A Deal Summary
Date 2019-04-24
Target Entegra Financial
Sector Financial Services
Buyer(s) First Citizens Bank
Deal Type Merger
Deal Value 219M USD

Target

Entegra Financial

Franklin, North Carolina, United States
Entegra Financial Corp. is a provider of various retail and commercial banking products and services for individuals and small businesses in the United States. Entegra Financial was founded in 1922 and is based in Franklin, North Carolina.

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Buyer(S) 1

Buyer

First Citizens Bank

Raleigh, North Carolina, United States
Category Company
Founded 1898
Sector Financial Services
Employees15,715
Revenue 8.8B USD (2023)
DESCRIPTION

First Citizens Bank operates as the holding company for First-Citizens Bank & Trust Company. Bank serves customers at more than 550 branches in 20 states. First Citizens Bank was incorporated in 1898 and is based in Raleigh, North Carolina.

DEAL STATS #
Overall 8 of 9
Sector (Financial Services) 8 of 9
Type (Merger) 3 of 4
State (North Carolina) 2 of 2
Country (United States) 8 of 9
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-20 Cordia Bancorp

Midlothian, Virginia, United States

Cordia Bancorp Inc. is the bank holding company for Bank of Virginia. Bank of Virginia provides retail banking services to individuals and commercial customers through six full-service banking locations in the greater Richmond market, including Chesterfield and Henrico Counties and Colonial Heights, Va.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-04 CIT

New York, New York, United States

CIT is a financial holding company with approximately $35 billion in financing and leasing assets. It provides financing, leasing and advisory services to its clients and their customers across more than 30 industries. CIT maintains leadership positions in middle market lending, factoring, retail and equipment finance, as well as aerospace, equipment and rail leasing. CIT was founded in 1908 and is based in New York city.

Buy -
Mergr

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