M&A Deal Summary

IBC Bank Acquires Local Financial

On January 22, 2004, IBC Bank acquired financial services company Local Financial for 385M USD

Acquisition Highlights
  • This is IBC Bank’s 1st transaction in the Financial Services sector.
  • This is IBC Bank’s largest (disclosed) transaction.
  • This is IBC Bank’s 1st transaction in the United States.
  • This is IBC Bank’s 1st transaction in Oklahoma.

M&A Deal Summary
Date 2004-01-22
Target Local Financial
Sector Financial Services
Buyer(s) IBC Bank
Deal Type Add-on Acquisition
Deal Value 385M USD

Target

Local Financial

Oklahoma City, Oklahoma, United States
Local Financial Corporation provides a full range of commercial and personal banking services at 52 locations.

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Buyer(S) 1

Buyer

IBC Bank

Laredo, Texas, United States
Category Company
Founded 1966
Sector Financial Services
Employees2,062
Revenue 833M USD (2023)
DESCRIPTION

IBC Bank is a multi-bank financial holding company, with 165 facilities and 256 ATMs serving 75 communities in Texas and Oklahoma. IBC Bank was founded in 1966 and is based in Laredo, Texas.

DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Oklahoma) 1 of 1
Country (United States) 1 of 2
Year (2004) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-16 Southwest First Community

Fort Myers, Florida, United States

Southwest First Community Inc.provides banking services.The bank have $133 million in assets and $119 million in deposits and three banking facilities in their respective communities.

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