M&A Deal Summary

Southern Bank Acquires Central Federal Bancshares

On January 17, 2020, Southern Bank acquired financial services company Central Federal Bancshares for 24M USD

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

M&A Deal Summary
Date 2020-01-17
Target Central Federal Bancshares
Sector Financial Services
Buyer(s) Southern Bank
Deal Type Merger
Deal Value 24M USD
Advisor(s) Keefe, Bruyette, & Woods, Inc.
Stifel, Nicolaus & Co., Inc. (Financial)
Lewis Rice (Legal)

Target

Central Federal Bancshares

Rolla, Missouri, United States
Central Federal Bancshares, Inc. is a federal banking corporation provides affordable residential, commercial and consumer lending programs to meet the borrowing needs of customers.

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Buyer(S) 1

Buyer

Southern Bank

Poplar Bluff, Missouri, United States
Category Company
Founded 1887
Sector Financial Services
Employees665
Revenue 153M USD (2023)
DESCRIPTION

Southern Bank is a provider of financial services. Southern Bank was founded in 1887 and is based in Poplar Bluff, Missouri.

DEAL STATS #
Overall 4 of 6
Sector (Financial Services) 4 of 6
Type (Merger) 2 of 3
State (Missouri) 1 of 3
Country (United States) 4 of 6
Year (2020) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-11 Tammcorp

Tamms, Illinois, United States

Tammcorp, Inc. is a privately held savings bank.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-28 FortuneBank

Arnold, Missouri, United States

FortuneBank is a provider of banking services that operates two branches in Jefferson and St. Louis Counties, Missouri, both located within St. Louis, Missouri, MSA. On June 30, 2021, Fortune’s consolidated assets were $253.7 million, including loans, net, of $209.3 million, while deposits totaled $214.5 million. FortuneBank was founded in 2005 and is based in Arnold, Missouri.

Buy -
Mergr

Product

Company

Legal