M&A Deal Summary

Truist Acquires Matewan BancShares

On February 25, 1999, Truist acquired financial services company Matewan BancShares for 158M USD

Acquisition Highlights
  • This is Truist’s 9th transaction in the Financial Services sector.
  • This is Truist’s 24th largest (disclosed) transaction.
  • This is Truist’s 10th transaction in the United States.
  • This is Truist’s 1st transaction in West Virginia.

M&A Deal Summary
Date 1999-02-25
Target Matewan BancShares
Sector Financial Services
Buyer(s) Truist
Deal Type Add-on Acquisition
Deal Value 158M USD

Target

Matewan BancShares

Williamson, West Virginia, United States
Matewan BancShares, Inc. is a provider of banking services.

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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 10 of 50
Sector (Financial Services) 9 of 42
Type (Add-on Acquisition) 10 of 45
State (West Virginia) 1 of 2
Country (United States) 10 of 50
Year (1999) 2 of 8
Size (of disclosed) 24 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-01-27 First Citizens

Newnan, Georgia, United States

First Citizens Corp. is a provider of full range of financial services.

Buy $126M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-03-26 Scott & Stringfellow Financial

Richmond, Virginia, United States

Scott & Stringfellow Financial, Inc. is a provider of banking and retail brokerage services.

Buy $146M
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