M&A Deal Summary

Independent Bank Acquires Meridian Bank

On April 22, 2021, Independent Bank acquired financial services company Meridian Bank for 1.2B USD

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

M&A Deal Summary
Date 2021-04-22
Target Meridian Bank
Sector Financial Services
Buyer(s) Independent Bank
Deal Type Merger
Deal Value 1.2B USD
Advisor(s) Raymond James - Investment Banking (Financial)
Luse Gorman (Legal)

Target

Meridian Bank

Peabody, Massachusetts, United States
Meridian Bank is the holding company for East Boston Savings Bank. East Boston Savings Bank, a Massachusetts-chartered stock savings bank founded in 1848, operates 27 full service locations in the greater Boston metropolitan area including nine full-service locations in its Mt. Washington Bank Division. Meridian Bank was founded in 1848 and is based in Peabody, Massachusetts.

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Buyer(S) 1

Buyer

Independent Bank

McKinney, Texas, United States
Category Company
Founded 2002
Sector Financial Services
Employees1,547
Revenue 610M USD (2022)
DESCRIPTION

Independent Bank provides a wide range of relationship-driven commercial banking products and services tailored to meet the needs of businesses, professionals, and individuals. Independent Bank was founded in 2002 and is based in McKinney, Texas.

DEAL STATS #
Overall 10 of 10
Sector (Financial Services) 10 of 10
Type (Merger) 2 of 2
State (Massachusetts) 1 of 1
Country (United States) 10 of 10
Year (2021) 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-09 Texas Capital BancShares

Dallas, Texas, United States

Texas Capital BancShares, Inc. is a commercial bank that delivers highly personalized financial services to businesses and entrepreneurs. Texas Capital BancShares was founded in 1996 and is based in Dallas, Texas.

Buy -
Mergr

Product

Company

Legal