M&A Deal Summary

Peoples Bank Acquires Vantage Financial

On February 16, 2022, Peoples Bank acquired financial services company Vantage Financial for 54M USD

Acquisition Highlights
  • This is Peoples Bank’s 4th transaction in the Financial Services sector.
  • This is Peoples Bank’s 2nd largest (disclosed) transaction.
  • This is Peoples Bank’s 5th transaction in the United States.
  • This is Peoples Bank’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2022-02-16
Target Vantage Financial
Sector Financial Services
Buyer(s) Peoples Bank
Deal Type Add-on Acquisition
Deal Value 54M USD
Advisor(s) Cherry Tree Companies LLC (Financial)
Barack Ferrazzano Kirschbaum & Nagelberg (BKFN) (Legal)

Target

Vantage Financial

Excelsior, Minnesota, United States
Vantage Financial is a provider of equipment financing. Vantage Financial is based in Excelsior, Minnesota.

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Buyer(S) 1

Buyer

Peoples Bank

Marietta, Ohio, United States
Category Company
Founded 1902
Sector Financial Services
Employees1,498
Revenue 422M USD (2023)
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 5 of 6
Sector (Financial Services) 4 of 5
Type (Add-on Acquisition) 4 of 4
State (Minnesota) 1 of 1
Country (United States) 5 of 6
Year (2022) 1 of 2
Size (of disclosed) 2 of 3
PREVIOUS 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-25 Limestone Bank

Louisville, Kentucky, United States

Limestone Bank is a state charted bank holding company with $1.1 billion in total assets. Porter's sole subsidiary bank, PBI Bank, operates 19 full service branches in the greater Louisville area and in counties south of Louisville along the Interstate 65 corridor. PBI is primarily a commercial lender with the majority of its loan portfolio in commercial real estate and construction loans. Limestone Bank was founded in 1902 and is based in Louisville, Kentucky.

Buy -
Mergr

Product

Company

Legal