M&A Deal Summary

United Bank Acquires Cardinal Financial

On August 18, 2016, United Bank acquired financial services company Cardinal Financial for 912M USD

Acquisition Highlights
  • This is United Bank’s 18th transaction in the Financial Services sector.
  • This is United Bank’s 2nd largest (disclosed) transaction.
  • This is United Bank’s 19th transaction in the United States.
  • This is United Bank’s 6th transaction in Virginia.

M&A Deal Summary
Date 2016-08-18
Target Cardinal Financial
Sector Financial Services
Buyer(s) United Bank
Deal Type Merger
Deal Value 912M USD
Advisor(s) Sandler O'Neill + Partners LP (Financial)
LeClairRyan (Legal)

Target

Cardinal Financial

McLean, Virginia, United States
Cardinal Financial Corp. is a financial holding company serves the washington metropolitan region through its wholly-owned subsidiary Cardinal Bank with over 30 conveniently located banking offices. Cardinal, with $4.2 billion in assets, provides banking services through its subsidiary bank, Cardinal Bank, which has a network of 30 branches throughout Virginia, Maryland and Washington, D.C

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Buyer(S) 1

Buyer

United Bank

Charleston, West Virginia, United States
Category Company
Founded 1982
Sector Financial Services
Employees2,716
Revenue 1.0B USD (2023)
DESCRIPTION

United Bank is a bank holding company with full service banking offices in West Virginia, Virginia, Washington, DC, Maryland, Ohio, and Pennsylvania. United Bank was founded in 1982 and is based in Charleston, West Virginia.

DEAL STATS #
Overall 19 of 22
Sector (Financial Services) 18 of 21
Type (Merger) 1 of 3
State (Virginia) 6 of 7
Country (United States) 19 of 22
Year (2016) 1 of 1
Size (of disclosed) 2 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-09 Bank of Georgetown

Washington, District of Columbia, United States

Bank of Georgetown is a privately held community bank.

Buy $269M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-18 Carolina Financial

Charleston, South Carolina, United States

Carolina Financial Corp. is the holding company of CresCom Bank, which also owns and operates Atlanta-based Crescent Mortgage Company. Carolina offers a variety of traditional community banking services to individuals and businesses. Carolina Financial was established in 1996 and is based in Charleston, South Carolina.

Buy $1.1B
Mergr

Product

Company

Legal