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  6. First Merchants Acquires CNBC Bancorp.

M&A Deal Summary

First Merchants Acquires CNBC Bancorp.

On August 28, 2002, First Merchants acquired financial services company CNBC Bancorp. for 58M USD

Acquisition Highlights
  • This is First Merchants’ 2nd transaction in the Financial Services sector.
  • This is First Merchants’ 6th largest (disclosed) transaction.
  • This is First Merchants’ 2nd transaction in the United States.
  • This is First Merchants’ 1st transaction in Ohio.

M&A Deal Summary
Date 2002-08-28
Target CNBC Bancorp.
Sector Financial Services
Buyer(s) First Merchants
Deal Type Add-on Acquisition
Deal Value 58M USD
Advisor(s) Stifel (Financial)
Squire Patton Boggs (Legal)

Target

CNBC Bancorp.

Columbus, Ohio, United States
CNBC Bancorp. is a holding company for Commerce National Bank (CNB). CNB provides various financial services and products.

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Buyer(S) 1

Buyer

First Merchants

Muncie, Indiana, United States
Category Company
Founded 1893
Sector Financial Services
Employees2,120
Revenue 627M USD (2024)
DESCRIPTION

First Merchants is a financial services holding company. First Merchants provides customers with personal banking, business banking, mortgage lending, cash management services, wealth management, and insurance. First Merchants was founded in 1893 and is based in Muncie, Indiana.

DEAL STATS #
Overall 2 of 10
Sector (Financial Services) 2 of 9
Type (Add-on Acquisition) 2 of 5
State (Ohio) 1 of 3
Country (United States) 2 of 10
Year (2002) 1 of 1
Size (of disclosed) 6 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-10-15 Lafayette Bancorp.

Lafayette, Indiana, United States

Lafayette Bancorp. is a provider of banking and trust services through 18 branches located in Tippecanoe, White, Jasper, and Carroll Counties in Indiana.

Buy $113M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-01 First Merchants Insurance Group

Muncie, Indiana, United States

First Merchants Insurance Group is a full service property, casualty, personal lines and healthcare insurance agency, with four offices located in Delaware, Hamilton, Madison and Randolph counties.

Buy $1M
Mergr

Product

Company

Legal