M&A Deal Summary

First National Bank Acquires Annapolis Bancorp

On April 8, 2013, First National Bank acquired financial services company Annapolis Bancorp for 51M USD

Acquisition Highlights
  • This is First National Bank’s 8th transaction in the Financial Services sector.
  • This is First National Bank’s 10th largest (disclosed) transaction.
  • This is First National Bank’s 8th transaction in the United States.
  • This is First National Bank’s 1st transaction in Maryland.

M&A Deal Summary
Date 2013-04-08
Target Annapolis Bancorp
Sector Financial Services
Buyer(s) First National Bank
Deal Type Add-on Acquisition
Deal Value 51M USD
Advisor(s) Sandler O'Neill + Partners (Financial)
Patton Boggs LLP (Legal)

Target

Annapolis Bancorp

Annapolis, Maryland, United States
Annapolis Bancorp, Inc. is the holding company for BankAnnapolis (the Bank), a federally insured, community-oriented bank, and the only independent commercial bank headquartered in Annapolis, Maryland. The Bank operates as a full-service commercial bank.

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Buyer(S) 1

Buyer

First National Bank

Pittsburgh, Pennsylvania, United States
Category Company
Founded 1864
Sector Financial Services
Employees4,008
Revenue 1.6B USD (2023)
DESCRIPTION

First National Bank is a financial holding company, provides various financial services to consumers and small- to medium-sized businesses primarily in Pennsylvania, eastern Ohio, and northern West Virginia. First National Bank was incorporated in 1864 and is based in Pittsburgh, Pennsylvania.

DEAL STATS #
Overall 8 of 14
Sector (Financial Services) 8 of 14
Type (Add-on Acquisition) 7 of 12
State (Maryland) 1 of 4
Country (United States) 8 of 14
Year (2013) 1 of 2
Size (of disclosed) 10 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-03 Parkvale Financial

Monroeville, Pennsylvania, United States

Parkvale Financial Corporation, conducts business in the greater Tri-State area through 47 full-service offices, with 40 offices in Allegheny, Beaver, Butler, Fayette, Washington and Westmoreland Counties of Pennsylvania, two branches in West Virginia and five branches in Ohio. With total assets of $1.8 billion at March 31, 2011, Parkvale was the eighth largest financial institution headquartered in the Pittsburgh metropolitan area and eighth largest financial institution with a significant presence in Western Pennsylvania.

Buy $130M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-15 PVF Capital

Cleveland, Ohio, United States

Park View Federal is a wholly-owned subsidiary of PVF Capital Corp, provides various banking products and services and operates 16 full-service offices located throughout the Greater Cleveland area.

Buy $106M
Mergr

Product

Company

Legal