Merger • Financial Services

Providence Bank Acquires Coastal Bank & Trust

On August 30, 2023, Providence Bank acquired financial services company Coastal Bank & Trust for 26M USD

Acquisition Context

This is Providence Bank’s 1st transaction in the Financial Services sector.
This is Providence Bank’s largest (disclosed) transaction.
This is Providence Bank’s 1st transaction in the United States.
This is Providence Bank’s 1st transaction in North Carolina.

Explore All 383 Merger Financial Services Deals - Search the Database Free

M&A Deal Summary
Date	August 30, 2023
Target	Coastal Bank & Trust
Sector	Financial Services
Buyer(s)	Providence Bank
Deal Type	Merger
Deal Value	26M USD
Advisor(s)	Burke Stelling Group (Financial) Ward and Smith (Legal)

Target Company

Coastal Bank & Trust

Jacksonville, North Carolina, United States

Coastal Bank & Trust is a full service bank. Coastal Bank & Trust was founded in 2009 and is based in Jacksonville, North Carolina

Explore More Deals

Browse All 215,156 Deals

FILTER BY

Buyer Type (PE or Strategic)
Deal Size ($10M to $10B+)
Sector (60 Sectors)
Deal Type
Geography
& More

Search Free

Buyer Overview 1

Buyer

Providence Bank

Rocky Mount, North Carolina, United States

Category	Company
Founded	2006
Sector	Financial Services
Revenue	31M USD (2023)

DESCRIPTION

PB Financial is the holding company for Providence Bank, a state-chartered community bank. Providence Bank was founded in 2006 and is based in Rocky Mount, North Carolina.

Deal Context for Buyer	#
Overall	1 of 1
Sector: Financial Services	1 of 1
Type: Merger	1 of 1
State: North Carolina	1 of 1
Country: United States	1 of 1
Year: 2023	1 of 1
Size (of disclosed)	1 of 1

Explore Related M&A Activity

Financial Services M&A - Merger M&A Deals - North Carolina M&A - United States M&A - 2023 M&A