Mergers / Acquisitions

First Citizens Completes Conversion of CIT Bank Division Branches

First Citizens Bank’s CIT Bank division completed conversion of its branches to First Citizens’ operations and systems. This conversion integrates CIT Bank branch customer accounts into First Citizens’ products and services. read more

United Rentals Enters Agreement to Acquire Ahern Rentals for $2B

United Rentals entered into an agreement to acquire the assets of the family-owned Ahern Rentals, founded in 1953, for roughly $2 billion in cash. The transaction is expected to close before the end of 2022. read more

White Oak Healthcare Finance Supports Recent United Dental Acquisitions

White Oak Healthcare Finance acted as sole lender and administrative agent of a senior credit facility to United Dental to finance four acquisitions in Arizona, California, Georgia and Colorado. read more

OceanFirst Financial and Partners Bancorp Terminate Merger Agreement

OceanFirst Financial and Partners Bancorp agreed to terminate the merger agreement announced on Nov. 4, 2021, effective immediately. read more

Ritchie Bros. Acquires IAA for $7.3B

Ritchie Bros. Auctioneers and IAA entered into a definitive agreement under which Ritchie Bros. will acquire IAA in a stock and cash transaction valued at approximately $7.3 billion, including the assumption of $1 billion of net debt. read more

TIAA to Sell TIAA Bank to New Investors

TIAA entered into a definitive agreement to sell TIAA Bank to new investors with experience in financial services, including Stone Point Capital, Warburg Pincus, Reverence Capital Partners, Sixth Street and Bayview Asset Management. read more

Assurant Buys American Lease Insurance

American Lease Insurance (ALI) was sold to American Bankers Insurance Group (ABIG), a $10 billion global insurance provider and publicly traded Fortune 500 company that does business as Assurant. read more

Equitable Bank Completes Acquisition of Concentra Bank

Equitable Bank, a wholly-owned subsidiary of EQB, completed the acquisition of Concentra Bank for a premium of $35.7 million to its $459.7 million book value of common equity, subject to final standard closing purchase price adjustments. read more

M&A Forecast Strong Despite Rising Interest Rates

According to a new Grant Thornton survey of merger and acquisition professionals, 72% of respondents expect deal volume to increase over the next six months despite rising interest rates threatening access to capital and uncertainty about a potential increase in capital gains taxes. read more

Republic Bank Acquires CBank, Expands in Cincinnati

Republic Bancorp, the parent company of Republic Bank & Trust, and Cincinnati-based CBank signed an agreement and plan of merger under which Republic will acquire CBank and its wholly-owned subsidiary, Commercial Industrial Finance. read more

Peoples Bancorp and Limestone Bancorp Sign Merger Agreement

Peoples Bancorp and Limestone Bancorp signed a merger for Peoples to acquire Limestone. Limestone will merge into Peoples and will subsequently merge with Peoples' wholly-owned subsidiary, Peoples Bank, in a transaction valued at approximately $208.2 million. read more

Mitsubishi HC Capital Approves CAI International & Beacon Intermodal Leasing Merger

Mitsubishi HC Capital’s executive committee approved the merger of CAI International and Beacon Intermodal Leasing, LLC. The merger will be effective Jan. 1, 2023. read more

US Bank’s MUFG Union Bank Acquisition to Close Dec. 1

Mitsubishi UFJ Financial Group (MUFG) reported that the final required regulatory approvals for the sales of MUFG Union Bank to U.S. Bank have been obtained, with the acquisition now expected to close on Dec. 1. read more

US Bank Receives All Required US Regulatory Approvals for MUFG Acquisition

U.S. Bank has received all required U.S. regulatory approvals to complete its previously announced acquisition of MUFG Union Bank’s core regional banking franchise from Mitsubishi UFJ Financial Group (MUFG). read more

Seacoast Acquires Apollo Bank and Drummond Community Bank

Seacoast Banking of Florida, the holding company for Seacoast National Bank, acquired Apollo Bancshares, parent company of Drummond Community Bank, effective Oct. 7. read more

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