Add-on Acquisition • Financial Services

Zions Acquires Kersey Bancorp

On August 31, 1998, Zions acquired financial services company Kersey Bancorp for 28M USD

Acquisition Context
  • This is Zions’ 7th transaction in the Financial Services sector.
  • This is Zions’ 8th largest (disclosed) transaction.
  • This is Zions’ 7th transaction in the United States.
  • This is Zions’ 3rd transaction in Colorado.

Explore All 3084 Add-on Acquisition Financial Services Deals - Search the Database Free


M&A Deal Summary

Date August 31, 1998
Target Kersey Bancorp
Sector Financial Services
Buyer(s) Zions
Deal Type Add-on Acquisition
Deal Value 28M USD
Advisor(s) Raymond James - Investment Banking (Financial)
Robinson & Cole (Legal)

Target Company

Kersey Bancorp

Kersey, Colorado, United States
Kersey Bancorp, Inc. provides banking services and Kersey had assets of $135 million and seven banking offices in key northeastern Colorado communities.
Explore More Deals

Browse All 215,158 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

Zions

Salt Lake City, Utah, United States

Category Company
Founded 1873
Sector Financial Services
Employees9,406
Revenue 3.1B USD (2024)
DESCRIPTION

Zions is a financial services company, consisting of a collection of banks in select high growth markets. Under local management teams and community identities, Zions operates over 480 full-service banking offices in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington. Zions was founded in 1873 and is based in Salt Lake City, Utah.


Deal Context for Buyer #
Overall 7 of 12
Sector: Financial Services 7 of 11
Type: Add-on Acquisition 7 of 12
State: Colorado 3 of 3
Country: United States 7 of 12
Year: 1998 3 of 4
Size (of disclosed) 8 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-23 Sky Valley Bank

United States

Sky Valley Bank Corp provides commercial business loans, residential and commercial real estate construction loans, consumer loans, revolving lines of credit.

Buy $20M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-09-09 The Commerce Bancorp.

Seattle, Washington, United States

The Commerce Bancorporation operates as a bank holding company. The Commerce Bancorporation provides banking services for commercial and business sectors.

Buy $89M