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M&A Deal Summary

Tompkins Financial Acquires Letchworth Independent Bancshares

On December 31, 1999, Tompkins Financial acquired financial services company Letchworth Independent Bancshares for 84M USD

Acquisition Highlights
  • This is Tompkins Financial’s 1st transaction in the Financial Services sector.
  • This is Tompkins Financial’s 2nd largest (disclosed) transaction.
  • This is Tompkins Financial’s 1st transaction in the United States.
  • This is Tompkins Financial’s 1st transaction in New York.

M&A Deal Summary
Date 1999-12-31
Target Letchworth Independent Bancshares
Sector Financial Services
Buyer(s) Tompkins Financial
Deal Type Add-on Acquisition
Deal Value 84M USD
Advisor(s) McConnell Budd & Romano (Financial)

Target

Letchworth Independent Bancshares

Castile, New York, United States
Letchworth Independent Bancshares operated as the holding company for The Bank of Castile and The Mahopac National Bank.

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Buyer(S) 1

Buyer

Tompkins Financial

Ithaca, New York, United States
Category Company
Founded 1836
Sector Financial Services
Employees978
Revenue 295M USD (2024)
DESCRIPTION

Tompkins Financial is a state based financial services holding company with $5 billion in assets, providing community banking, insurance, and wealth management services. Tompkins Financial was founded in 1836 and is based in Ithaca, New York.

DEAL STATS #
Overall 1 of 3
Sector: Financial Services M&A 1 of 3
Type: Add-on Acquisition M&A Deals 1 of 3
State: New York M&A 1 of 2
Country: United States M&A 1 of 3
Year: 1999 M&A 1 of 1
Size (of disclosed) 2 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-08 Sleepy Hollow Bancorp

Sleepy Hollow, New York, United States

Sleepy Hollow Bancorp has assets of approximately $245 million and is the parent company of Sleepy Hollow Bank, which operates five full-service offices and one limited-service facility, all in Westchester County, New York.

Buy $30M
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