M&A Deal Summary

Lineage Financial Network Acquires Sumner Bank & Trust

On February 25, 2020, Lineage Financial Network acquired financial services company Sumner Bank & Trust

Acquisition Highlights
  • This is Lineage Financial Network’s 2nd transaction in the Financial Services sector.
  • This is Lineage Financial Network’s 2nd transaction in the United States.
  • This is Lineage Financial Network’s 2nd transaction in Tennessee.

M&A Deal Summary
Date 2020-02-25
Target Sumner Bank & Trust
Sector Financial Services
Buyer(s) Lineage Financial Network
Deal Type Add-on Acquisition
Advisor(s) ProBank Austin (Financial)
Thompson Burton (Legal)

Target

Sumner Bank & Trust

Gallatin, Tennessee, United States
Sumner Bank & Trust is a full-service community bank operating three branch locations in Sumner County, Tennessee on West Broadway, Browns Lane and Indian Lake Boulevard. As of December 31, 2019, Sumner Bank & Trust had $196 million in assets, $124 million in loans, $177 million in deposits and $17 million in shareholders’ equity. Sumner Bank & Trust was rated 5 stars by Bauer Financial in September 2019.

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Buyer(S) 1

Buyer

Lineage Financial Network

United States
Category Company
Founded 2020
Sector Financial Services
DESCRIPTION

Lineage Financial Network, Inc. empowers community banks with the technology and capital customers desire while sustaining the relationships that define their history. The Lineage team will include local banking technologists with strong perspectives about creating a complete experience with each customer.

DEAL STATS #
Overall 2 of 2
Sector (Financial Services) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Tennessee) 2 of 2
Country (United States) 2 of 2
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-25 Citizens Bank & Trust

Atwood, Tennessee, United States

Citizens Bank & Trust Co. has served the Atwood, Tennessee, and surrounding community counties for more than 80 years. As of December 31, 2019, Citizens Bank & Trust Company had $25 million in assets, $9 million in loans, $22 million in deposits and $3 million in shareholders’ equity. The full-service bank operates mainly in West Carroll and East Gibson counties and is a member of the FDIC.

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