M&A Deal Summary

Old Point National Bank Acquires Citizens National Bank

On October 30, 2017, Old Point National Bank acquired financial services company Citizens National Bank for 8M USD

Acquisition Highlights
  • This is Old Point National Bank’s 2nd transaction in the Financial Services sector.
  • This is Old Point National Bank’s largest (disclosed) transaction.
  • This is Old Point National Bank’s 2nd transaction in the United States.
  • This is Old Point National Bank’s 2nd transaction in Virginia.

M&A Deal Summary
Date 2017-10-30
Target Citizens National Bank
Sector Financial Services
Buyer(s) Old Point National Bank
Deal Type Add-on Acquisition
Deal Value 8M USD
Advisor(s) Performance Trust Capital Partners LLC (Financial)
Williams Mullen (Legal)

Target

Citizens National Bank

Windsor, Virginia, United States
Citizens National Bank is a nationally chartered community bank headquartered in Windsor, Virginia serving the County of Isle of Wight, the Cities of Franklin and Suffolk, and portions of Southampton, Surry and Sussex Counties with one full service branch.

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Buyer(S) 1

Buyer

Old Point National Bank

Hampton, Virginia, United States
Category Company
Founded 1922
Sector Financial Services
Employees290
Revenue 62M USD (2023)
DESCRIPTION

Old Point National Bank is a full service bank offering a wide range of financial services, from solutions focused on individuals and small businesses to comprehensive commercial services. Old Point Financial was founded in 1922 and is based in Hampton, Virginia.

DEAL STATS #
Overall 2 of 2
Sector (Financial Services) 2 of 2
Type (Add-on Acquisition) 1 of 1
State (Virginia) 2 of 2
Country (United States) 2 of 2
Year (2017) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-24 Old Point Mortgage

Virginia Beach, Virginia, United States

Old Point Mortgage is a provider of financial services in US.

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Company

Legal