M&A Deal Summary

J. C. Penney Company Acquires First National Bank of Harrington

On April 28, 1983, J. C. Penney Company acquired financial services company First National Bank of Harrington

Acquisition Highlights
  • This is J. C. Penney Company’s 1st transaction in the Financial Services sector.
  • This is J. C. Penney Company’s 1st transaction in the United States.
  • This is J. C. Penney Company’s 1st transaction in Delaware.

M&A Deal Summary
Date 1983-04-28
Target First National Bank of Harrington
Sector Financial Services
Buyer(s) J. C. Penney Company
Deal Type Add-on Acquisition

Target

First National Bank of Harrington

Delaware, United States
First National Bank of Harrington is a regional bank serving the Mid-Atlantic US.

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Buyer(S) 1

Buyer

J. C. Penney Company

Plano, Texas, United States
Category Company
Founded 1902
Sector Retail
Employees95,000
Revenue 11.2B USD (2020)
DESCRIPTION
JC Penney's corporate headquarters in Plano, Texas.
JC Penney's corporate headquarters in Plano, Texas.

J. C. Penney Company is a US-based retailer. The Company primarily sells apparel, footwear, home goods, and beauty products. J. C. Penney Company was founded in 1902 and is based in Plano, Texas.

DEAL STATS #
Overall 1 of 3
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Delaware) 1 of 1
Country (United States) 1 of 3
Year (1983) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1996-11-04 Eckerd

Largo, Florida, United States

Eckerd is a chain of drug stores based in Largo, Florida. The Company was originally established 1898.

Buy $2.6B
Mergr

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Company

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