M&A Deal Summary

United Bank Acquires Essex Bank

On June 3, 2021, United Bank acquired financial services company Essex Bank for 303M USD

Acquisition Highlights
  • This is United Bank’s 20th transaction in the Financial Services sector.
  • This is United Bank’s 4th largest (disclosed) transaction.
  • This is United Bank’s 21st transaction in the United States.
  • This is United Bank’s 7th transaction in Virginia.

M&A Deal Summary
Date 2021-06-03
Target Essex Bank
Sector Financial Services
Buyer(s) United Bank
Deal Type Merger
Deal Value 303M USD
Advisor(s) Piper Sandler & Co. (Financial)
Williams Mullen (Legal)

Target

Essex Bank

Richmond, Virginia, United States
Community Bankers Trust is a well-capitalized, single bank holding company headquartered in the greater Richmond, Virginia market with approximately $1.7 billion in assets as of March 31, 2021. Community Bankers Trust is the holding company for Essex Bank, a Virginia state-chartered bank with 24 full-service offices, 18 of which are in Virginia and six of which are in Maryland. Essex Bank also operates two loan production offices.

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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 21 of 22
Sector (Financial Services) 20 of 21
Type (Merger) 3 of 3
State (Virginia) 7 of 7
Country (United States) 21 of 22
Year (2021) 1 of 1
Size (of disclosed) 4 of 21
PREVIOUS 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
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-10 Piedmont Bank

Peachtree Corners, Georgia, United States

Piedmont Bank is a community bank that offers personal, mobile, & business banking services. Piedmont Bank was founded in 2008 and is based in Peachtree Corners, Georgia.

Buy $267M
Mergr

Product

Company

Legal