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M&A Deal Summary

State Bank Acquires Edon Bancorp

On February 7, 2020, State Bank acquired financial services company Edon Bancorp for 16M USD

Acquisition Highlights
  • This is State Bank’s 1st transaction in the Financial Services sector.
  • This is State Bank’s largest (disclosed) transaction.
  • This is State Bank’s 1st transaction in the United States.
  • This is State Bank’s 1st transaction in Ohio.

M&A Deal Summary
Date 2020-02-07
Target Edon Bancorp
Sector Financial Services
Buyer(s) State Bank
Deal Type Merger
Deal Value 16M USD

Target

Edon Bancorp

Edon, Ohio, United States
Edon Bancorp, Inc. was established in January 1893 as a co-partnership consisting of Oscar Eaton, Will W. Morrison, Theodore S. Carvin and I.E. Gardner. Oscar Eaton was president; I.E. Gardner, vice president; and Theodore S. Carvin, cashier. The Bank was incorporated in 1911 as The Edon State Bank Company of Edon, Ohio.

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Buyer(S) 1

Buyer

State Bank

Defiance, Ohio, United States
Category Company
Founded 1902
Sector Financial Services
Employees245
Revenue 57M USD (2023)
DESCRIPTION

State Bank is a diversified financial services holding company for the State Bank & Trust Company (State Bank) and SBFG Title, LLC dba Peak Title (Peak Title). State Bank provides a full range of financial services for consumers and small businesses, including wealth management, private client services, mortgage banking and commercial and agricultural lending, operating through a total of 20 offices; 19 in nine Ohio counties and one in Fort Wayne, Indiana, and 25 full-service ATMs. State Bank has seven loan production offices located throughout the Tri-State region of Ohio, Indiana and Michigan. Peak Title provides title insurance and opinions throughout the Tri-State region. State Bank was founded in 1983 and is based in Defiance, Ohio.

DEAL STATS #
Overall 1 of 2
Sector: Financial Services M&A 1 of 2
Type: Merger M&A Deals 1 of 1
State: Ohio M&A 1 of 1
Country: United States M&A 1 of 2
Year: 2020 M&A 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-17 Marblehead Bank

Marblehead, Massachusetts, United States

Marblehead Bank provides a range of personal and business banking services. These include checking and savings accounts, mortgage and loan options, online and mobile banking, and other financial solutions. Marblehead Bank was founded in 1907 and is based in Marblehead, Massachusetts.

Buy $5M
Mergr

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