Merger • Financial Services

United Bank Acquires Cardinal Financial

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

Acquisition Context

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.

Explore All 383 Merger Financial Services Deals - Search the Database Free

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

Target Company

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

Explore More Deals

Browse All 215,156 Deals

FILTER BY

Buyer Type (PE or Strategic)
Deal Size ($10M to $10B+)
Sector (60 Sectors)
Deal Type
Geography
& More

Search Free

Buyer Overview 1

Buyer

United Bank

Charleston, West Virginia, United States

Category	Company
Founded	1982
Sector	Financial Services
Employees	2,553
Revenue	1.0B USD (2024)

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 Context for Buyer	#
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

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

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

Explore Related M&A Activity

Financial Services M&A - Merger M&A Deals - Virginia M&A - United States M&A - 2016 M&A