M&A Deal Summary

South State Acquires Park Sterling

On November 15, 2017, South State acquired financial services company Park Sterling

Acquisition Highlights
  • This is South State’s 1st transaction in the Financial Services sector.
  • This is South State’s 1st transaction in the United States.
  • This is South State’s 1st transaction in North Carolina.

M&A Deal Summary
Date 2017-11-15
Target Park Sterling
Sector Financial Services
Buyer(s) South State
Deal Type Merger

Target

Park Sterling

Charlotte, North Carolina, United States
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.

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Buyer(S) 1

Buyer

South State

Winter Haven, Florida, United States
Category Company
Founded 1933
Sector Financial Services
Employees5,179
Revenue 1.7B USD (2023)
DESCRIPTION

South State is a holding company of South State Bank, and serves the financial needs of its local communities in 25 South Carolina counties, 15 Georgia counties and 4 North Carolina counties. South State was founded in 1933 and is based in Winter Haven, Florida.

DEAL STATS #
Overall 1 of 3
Sector (Financial Services) 1 of 3
Type (Merger) 1 of 2
State (North Carolina) 1 of 1
Country (United States) 1 of 3
Year (2017) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-10 CenterState Bank

Winter Haven, Florida, United States

CenterState Bank is a provider of consumer and commercial banking services to individuals, businesses, and industries. CenterState Bank was established in 1999 and is based in Davenport, Florida.

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