M&A Deal Summary

Park Sterling Acquires Provident Community Bancshares

On May 1, 2014, Park Sterling acquired financial services company Provident Community Bancshares for 5M USD

Acquisition Highlights
  • This is Park Sterling’s 3rd transaction in the Financial Services sector.
  • This is Park Sterling’s 4th largest (disclosed) transaction.
  • This is Park Sterling’s 3rd transaction in the United States.
  • This is Park Sterling’s 2nd transaction in South Carolina.

M&A Deal Summary

Date 2014-05-01
Target Provident Community Bancshares
Sector Financial Services
Buyer(s) Park Sterling
Deal Type Merger
Deal Value 5M USD

Target

Provident Community Bancshares

Rock Hill,, South Carolina, United States
Provident Community Bancshares, Inc. operates as a bank holding company for Provident Community Bank, N.A., which provides various financial products and services.

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Buyer(S) 1

Buyer

Park Sterling

Charlotte, North Carolina, United States

Category Company
Sector Financial Services
Employees551
Revenue 107M USD (2015)
DESCRIPTION

Park Sterling Corporation, the holding company for Park Sterling Bank. Park Sterling, a regional, community-focused financial services company with approximately $2.3 billion in assets, is the largest community bank in the Charlotte area and has 53 banking offices stretching across the Carolinas and into North Georgia as well as a loan production office in the Greater Richmond region.


DEAL STATS #
Overall 3 of 4
Sector: Financial Services M&A 3 of 4
Type: Merger M&A Deals 3 of 3
State: South Carolina M&A 2 of 2
Country: United States M&A 3 of 4
Year: 2014 M&A 1 of 1
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-01 Citizens South Banking

Gastonia,, North Carolina, United States

Citizens South Banking Corp operates as the holding company for Citizens South Bank that provides various commercial banking services to individual and business customers in the United States.

Buy $83M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 First Capital Bancorp

Glen Allen, Virginia, United States

First Capital Bancorp, Inc. is a bank holding company for First Capital Bank is a community oriented financial institution that offers a full range of banking and related financial services to small and medium-sized businesses, professionals and individuals located in its market area.

Buy $87M