M&A Deal Summary

United Bank Acquires Century Bancshares

On December 10, 2001, United Bank acquired financial services company Century Bancshares for 70M USD

Acquisition Highlights
  • This is United Bank’s 12th transaction in the Financial Services sector.
  • This is United Bank’s 13th largest (disclosed) transaction.
  • This is United Bank’s 12th transaction in the United States.
  • This is United Bank’s 1st transaction in District of Columbia.

M&A Deal Summary
Date 2001-12-10
Target Century Bancshares
Sector Financial Services
Buyer(s) United Bank
Deal Type Add-on Acquisition
Deal Value 70M USD
Advisor(s) Bracewell (Legal)

Target

Century Bancshares

Washington, District of Columbia, United States
Century Bancshares, Inc. operates as a bank holding company for the Century National Bank. The Bank provides financial products and services.

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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 12 of 22
Sector (Financial Services) 12 of 21
Type (Add-on Acquisition) 12 of 19
State (District of Columbia) 1 of 2
Country (United States) 12 of 22
Year (2001) 1 of 1
Size (of disclosed) 13 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-10-01 Fed One Bancorp

Wheeling,, West Virginia, United States

Fed One Bancorp, Inc. operated as the holding company of Fed One Bank, a community-oriented financial institution.

Buy $92M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-10-10 Sequoia Bancshares Inc

Bethesda, Maryland, United States

Sequoia Bancshares is a local bank. The products and services offered by the bank include business deposits, business loans, personal deposits, personal loans, employer services account, and fiduciary account.

Buy $112M
Mergr

Product

Company

Legal