Merger • Financial Services

First Federal Bancorp Acquires Coastal Banking Co.

On April 2, 2018, First Federal Bancorp acquired financial services company Coastal Banking Co.

Acquisition Context

This is First Federal Bancorp’s 1st transaction in the Financial Services sector.
This is First Federal Bancorp’s 1st transaction in the United States.
This is First Federal Bancorp’s 1st transaction in South Carolina.

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M&A Deal Summary
Date	April 2, 2018
Target	Coastal Banking Co.
Sector	Financial Services
Buyer(s)	First Federal Bancorp
Deal Type	Merger

Target Company

Coastal Banking Co.

Beaufort, South Carolina, United States

Coastal Banking Company Inc., headquartered in Beaufort, S.C., is the $464.7 million-asset bank holding company of CBC National Bank, headquartered in Fernandina Beach, Fla., which provides a full range of consumer and business banking services through full-service banking offices in Beaufort, Fernandina Beach, and Port Royal, S.C. The company's residential mortgage banking division, headquartered in Atlanta, includes traditional retail and wholesale lending, as well as a National Retail Group that has lending offices in Arizona, Florida, Georgia, Maryland, Michigan, Indiana, Illinois and Ohio.

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