M&A Deal Summary

Savings Institute Bank and Trust Company Acquires Newport Bancorp

On March 5, 2013, Savings Institute Bank and Trust Company acquired financial services company Newport Bancorp

Acquisition Highlights
  • This is Savings Institute Bank and Trust Company’s 1st transaction in the Financial Services sector.
  • This is Savings Institute Bank and Trust Company’s 1st transaction in the United States.
  • This is Savings Institute Bank and Trust Company’s 1st transaction in Rhode Island.

M&A Deal Summary
Date 2013-03-05
Target Newport Bancorp
Sector Financial Services
Buyer(s) Savings Institute Bank and Trust Company
Deal Type Add-on Acquisition
Advisor(s) Sandler O'Neill + Partners (Financial)
Luse Gorman (Legal)

Target

Newport Bancorp

Newport, Rhode Island, United States
Newport Bancorp, Inc. is a provider of financial services.

Search 201,157 Deals Now

SEARCH BY

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

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Savings Institute Bank and Trust Company

Willimantic, Connecticut, United States
Category Company
Founded 1842
Sector Financial Services
Revenue 53M USD (2017)
DESCRIPTION

Savings Institute Bank and Trust Company is a community-oriented financial institution that offers a full-range of financial services to individuals, businesses, and municipalities within its market area. Savings Institute Bank and Trust Company was formed in 1842 and is based in Willimantic, Connecticut.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Rhode Island) 1 of 1
Country (United States) 1 of 1
Year (2013) 1 of 1
Mergr

Product

Company

Legal