Financial Advisor
Citizens Bancorp Investment, Inc.
M&A Advisory
Acquired
Transaction Details
- On July 9, 2020, Citizens Bancorp Investment, Inc. (“Citizens”), parent company of Citizens Bank of Lafayette, and American Bancshares Corp. (“American”), parent company of American Bank & Trust of the Cumberlands, announced the signing of a definitive agreement providing for the merger of American with and into Citizens
- Based on March 31, 2020 results, the combined bank will have total assets of approximately $1.2 billion with $794 million in loans and $1.0 billion in deposits
- This combination will create the largest bank headquartered in the Upper Cumberland Region of Tennessee
- The transaction is expected to close in Q4’2020
Sources: Company Filings, S&P Global Market Intelligence and publicly available information.
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Note: Bank-level Call Report data as of March 31, 2020.
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