M&A Deal Summary

Truist Acquires Equitable Bank

On March 17, 2003, Truist acquired financial services company Equitable Bank for 46M USD

Acquisition Highlights
  • This is Truist’s 30th transaction in the Financial Services sector.
  • This is Truist’s 34th largest (disclosed) transaction.
  • This is Truist’s 33rd transaction in the United States.
  • This is Truist’s 4th transaction in Maryland.

M&A Deal Summary
Date 2003-03-17
Target Equitable Bank
Sector Financial Services
Buyer(s) Truist
Deal Type Add-on Acquisition
Deal Value 46M USD

Target

Equitable Bank

Wheaton, Maryland, United States
Equitable Bank is a customer-oriented and service-driven financial services company.

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Buyer(S) 1

Buyer

Truist

Charlotte, North Carolina, United States
Category Company
Founded 1872
Sector Financial Services
Employees49,218
Revenue 23.4B USD (2023)
DESCRIPTION
BB&T's corporate headquarters in Winston-Salem, North Carolina.
BB&T's corporate headquarters in Winston-Salem, North Carolina.

Truist is a financial services company. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Truist was founded in 1872 and is headquartered in Charlotte, North Carolina.

DEAL STATS #
Overall 33 of 50
Sector (Financial Services) 30 of 42
Type (Add-on Acquisition) 33 of 45
State (Maryland) 4 of 4
Country (United States) 33 of 50
Year (2003) 1 of 3
Size (of disclosed) 34 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-10-03 FloridaFirst Bancorp

Lakeland, Florida, United States

FloridaFirst Bancorp, Inc. is a provider of full-service banking services. FloridaFirst Bank is a community financial institution that focuses on excellent credit quality and client service.

Buy $135M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-01 Southeast Fidelity

Tallahassee, Florida, United States

Southeast Fidelity Corp. is a provider of insurance premium financing for consumers and businesses

Buy -
Mergr

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