M&A Deal Summary

Superior National Bank & Trust Acquires Main Street Bank

On September 18, 2019, Superior National Bank & Trust acquired financial services company Main Street Bank for 42M USD

Acquisition Highlights
  • This is Superior National Bank & Trust’s 1st transaction in the Financial Services sector.
  • This is Superior National Bank & Trust’s largest (disclosed) transaction.
  • This is Superior National Bank & Trust’s 1st transaction in the United States.
  • This is Superior National Bank & Trust’s 1st transaction in Michigan.

M&A Deal Summary

Date 2019-09-18
Target Main Street Bank
Sector Financial Services
Buyer(s) Superior National Bank & Trust
Deal Type Add-on Acquisition
Deal Value 42M USD

Target

Main Street Bank

Bingham Farms, Michigan, United States
Main Street Bank operates as a banking institution, offering both personal and business checking and savings accounts, market accounts, certificates of deposit, safe deposit boxes, business commercial loans, residential mortgages, conventional and government lending, and debt financing services. Main Street was founded in 2005 with headquarters in Bingham Farms and operates six locations, including two retail branches, three mortgage loan offices, and one commercial loan office serving southeast Michigan.

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Buyer(S) 1

Buyer

Superior National Bank & Trust

Hancock, Michigan, United States

Category Company
Founded 1890
Sector Financial Services
DESCRIPTION

Superior National Bank & Trust serves customers in Michigan’s Upper Peninsula with nine branches and a full range of deposit accounts, loan options, and trust and financial options. Founded in 1890 and based in Hancock, Michigan.


DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Michigan) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 1 of 1