FAIRNESS OPINION
Community Unity Bank
M&A Advisory
Has Agreed To Be Acquired By
Transaction Details
On March 17, 2025, Community Unity Bank (“CUB”) announced it has entered into a definitive agreement to be acquired by OakNorth Bank PLC (“OakNorth”) in a stock-for-stock transaction.
The acquisition, which is subject to regulatory approval, follows authorization which OakNorth received in August 2024 from the Federal Reserve and the New York State Department of Financial Services for a Representative Office in New York.
Since it began operating in the US in mid-2023, OakNorth has lent over $700m to businesses in the United States.
The acquisition of CUB will enable OakNorth, through CUB, to expand its business lending throughout the United States, as well as in Michigan.
About the company
Community Unity Bank
Launched in 2023, Community Unity Bank is a home-grown, FDIC-insured community bank in Oakland County, Michigan. The bank offers a full suite of banking products and services and was formed by bringing together entrepreneurs from around Oakland County with diverse backgrounds to meet a growing need for small business lending. As business owners and executives, it knows that access to capital means everything, and CUB was started to meet that need, lending during up cycles and down cycles. Visit https://www.communityunity.bank/ for more information.
OakNorth Bank PLC
Launched in September 2015 and founded by entrepreneurs, OakNorth is a digital bank focused on serving and empowering the lower mid-market (businesses with £$1m-$100m in turnover), that are seeking to scale but are routinely underserved or overlooked by traditional banks. To date, it has provided approximately $16bn to these businesses across a wide range of sectors, achieving performance metrics that place it amongst the top 1% of commercial banks globally. Its loans have directly contributed to the creation of 56,000 jobs, and over 34,000 new homes across the UK and the US – the majority of which are affordable and social housing. It is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Visit www.oaknorth.co.u for more information.
Sources: Company Press Release.
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