Financial Advisor And Fairness Opinion
State Capital Corp.
M&A Advisory
Has Merged With
Transaction Details
- State Capital Corp. (“State Capital”), parent company of State Bank and Trust Company, announced today the signing of a definitive merger agreement with BancPlus Corporation (“BancPlus”), the parent company of BankPlus
- Combination between two of Mississippi’s oldest banks
- Combined company will have approximately $4.2 billion in assets and rank as the 6th largest bank by deposits in the state of Mississippi
- Transaction expands BankPlus’ footprint into Louisiana and Alabama
- Kirk Graves, Chief Executive Officer of State Bank, will join the senior executive management team of BankPlus upon completion of the merger
- State Capital shareholders will receive shares of BancPlus’ common stock for each outstanding share of State Capital common stock. The transaction is valued at approximately $136.5 million in the aggregate, or $38.75 per share
- Merger is expected to close in the first quarter of 2020
Sources: Company filings, SNL Financial and publicly available information.
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(1) Transaction multiples calculated based on the aggregate deal value and financial results as of or for the twelve months ended June 30, 2019.
(2) Reflects Q’2 2019 FR Y-9C financial data for State Capital Corp. and BancPlus Corporation.
(3) Bank-level.
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