M&A Deal Summary

First Community Bank Acquires Surrey Bank and Trust

On November 18, 2022, First Community Bank acquired financial services company Surrey Bank and Trust

Acquisition Highlights
  • This is First Community Bank’s 1st transaction in the Financial Services sector.
  • This is First Community Bank’s 2nd transaction in the United States.
  • This is First Community Bank’s 2nd transaction in North Carolina.

M&A Deal Summary
Date 2022-11-18
Target Surrey Bank and Trust
Sector Financial Services
Buyer(s) First Community Bank
Deal Type Merger
Advisor(s) Raymond James - Investment Banking (Financial)
Brooks, Pierce, McLendon, Humphrey & Leonard (Legal)

Target

Surrey Bank and Trust

Mount Airy, North Carolina, United States
Surrey Bank and Trust is a locally-owned bank focused on helping the communities that it serves to grow and prosper. The bank offers a variety of products and services to help families and small businesses in communities succeed. It currently operates six full-service branches in Mount Airy, Pilot Mountain, Elkin, and North Wilkesboro, North Carolina, and Stuart, Virginia. Surrey Bank is an Equal Housing Lender and Member FDIC. Surrey Bank and Trust was formed in 1996 and is based in Mount Airy, North Carolina.

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Buyer(S) 1

Buyer

First Community Bank

Bluefield, Virginia, United States
Category Company
Founded 1874
Sector Financial Services
Employees596
Revenue 156M USD (2023)
DESCRIPTION

First Community Bank is a comprehensive banking and financial services company with 45 financial centers located in West Virginia, Virginia, North Carolina and Tennessee (as People’s Community Bank). First Community Bank was incorporated in 1874 and is based in Bluefield, Virginia.

DEAL STATS #
Overall 2 of 2
Sector (Financial Services) 1 of 1
Type (Merger) 1 of 1
State (North Carolina) 2 of 2
Country (United States) 2 of 2
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-04 Greenpoint Insurance Group

High Point, North Carolina, United States

Greenpoint Insurance Group, Inc. is a provider of insurance products across 4 locations throughout NC and VA.

Sell -
Mergr

Product

Company

Legal