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Buckeye State Bank To Acquire First City Bank

Jun 13, 2022about 3 years ago

Acquiring Company

Buckeye State Bank (@BuckeyeStateBank)

Acquired Company

First City Bank

North BrabantLendingFinanceFinancial ServicesLending And InvestmentsCommerce And ShoppingReal EstateFinancial Services

Description

Buckeye State Bank ("Buckeye") and First City Bank ("First City") announced the signing of a definitive merger agreement to which Buckeye will acquire First City. As of March 31, 2022, First City had approximately $73 million in total assets and $64 million in total deposits. Through First City's location at 1885 Northwest Blvd in Columbus, Buckeye will expand its market presence from its existing markets of DeGraff, Perrysburg and Powell, Ohio to the Upper Arlington and Grandview markets. The sale was unanimously approved by First City's directors and shareholders.

Company Information

Company

Buckeye State Bank (@BuckeyeStateBank)

Location

North Brabant, Netherlands

About

Rockhold Bancorp is the parent company of the Bank of Kirksville, with eight locations, $118.7 million in loans, and $349.6 million in deposits. The company was acquired by Equity Bancshares, Inc.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed