M&A Deal Summary

The Citizens Bank of Philadelphia Acquires Charter Bank

On May 21, 2019, The Citizens Bank of Philadelphia acquired financial services company Charter Bank

Acquisition Highlights
  • This is The Citizens Bank of Philadelphia’s 1st transaction in the Financial Services sector.
  • This is The Citizens Bank of Philadelphia’s 1st transaction in the United States.
  • This is The Citizens Bank of Philadelphia’s 1st transaction in Mississippi.

M&A Deal Summary
Date 2019-05-21
Target Charter Bank
Sector Financial Services
Buyer(s) The Citizens Bank of Philadelphia
Deal Type Add-on Acquisition

Target

Charter Bank

Biloxi, Mississippi, United States
Charter Bank is a full service business banking concept. Charter offers a broad range of commercial and consumer banking services to small and medium-sized businesses, professional firms, individuals, civic groups and other organizations. As of March 31, 2019, Charter had $161 million in total assets, $134 million in deposits and $110 million in gross loans.

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Buyer(S) 1

Buyer

The Citizens Bank of Philadelphia

Philadelphia, Mississippi, United States
Category Company
Founded 1908
Sector Financial Services
DESCRIPTION

The Citizens Bank of Philadelphia currently has 23 banking locations in Mississippi and offers full-service commercial banking, mortgage lending and title insurance services in addition to a full range of Internet banking services.

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

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Company

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