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M&A Deal Summary

Peoples Bank Acquires Premier Bank

On March 29, 2021, Peoples Bank acquired financial services company Premier Bank for 292M USD

Acquisition Highlights
  • This is Peoples Bank’s 3rd transaction in the Financial Services sector.
  • This is Peoples Bank’s largest (disclosed) transaction.
  • This is Peoples Bank’s 3rd transaction in the United States.
  • This is Peoples Bank’s 2nd transaction in West Virginia.

M&A Deal Summary
Date 2021-03-29
Target Premier Bank
Sector Financial Services
Buyer(s) Peoples Bank
Deal Type Merger
Deal Value 292M USD
Advisor(s) Piper Sandler & Co. (Financial)
Jackson Kelly (Legal)

Target

Premier Bank

Huntington, West Virginia, United States
Premier Bank is a provider of community banking services to individuals and small-to-medium sized businesses. The company accepts various deposit products, including checking, NOW, savings, money market, club, individual retirement, and overdraft protection accounts, as well as certificates of deposit. Its loan products include loans for purchasing personal residences or loans for commercial or consumer purposes secured by residential mortgages. Premier Bank was founded in 1991 and is based in Huntington, West Virginia.

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Buyer(S) 1

Buyer

Peoples Bank

Marietta, Ohio, United States
Category Company
Founded 1902
Sector Financial Services
Employees1,460
Revenue 444M USD (2024)
DESCRIPTION

Peoples Bank is a diversified financial services holding company with $3.2 billion in total assets, 82 sales offices and 80 ATMs in Ohio, West Virginia and Kentucky. Peoples Bank was founded in 1902 and is based in Marietta, Ohio.

DEAL STATS #
Overall 3 of 6
Sector: Financial Services M&A 3 of 5
Type: Merger M&A Deals 1 of 2
State: West Virginia M&A 2 of 2
Country: United States M&A 3 of 6
Year: 2021 M&A 1 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-29 First Commonwealth Bank of Prestonsburg

Prestonsburg, Kentucky, United States

First Prestonsburg Bancshares, Inc. is a provider of financial services. It own and operates eight full service branches in and around the Prestonsburg and Pikeville markets in eastern Kentucky, and is scheduled to open a ninth full service branch in Georgetown, Kentucky.

Buy $45M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-31 North Star Leasing

Burlington, Vermont, United States

North Star Leasing is a provider of specialized lease solutions for customers across numerous industries including Automotive, Healthcare, Pet-Supply, and Restaurant. North Star Leasing was founded in 1979 and is based in Burlington, Vermont.

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