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    Banking, Finance & Insurance Q1 2020

    Q1 2020 Banking Finance Insurance

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Privilege Underwriters, Inc.
    • HCC Insurance Holdings Inc.
    • $3,100.00
    • AmeriLife Group, LLC
    • Thomas H. Lee Partners, L.P.
    • $1,000.00
    • Mutual of Omaha Bank
    • CIT Bank, National Association
    • $988.12
    • TB&T Bancshares, Inc.
    • First Financial Bankshares, Inc.
    • $210.11
    • Bankmanagers Corp.
    • First Midwest Bancorp, Inc.
    • $193.81
    • ASE/ DMS/ IDG/ OSI/ SAC/SAC Admin/ SAC Insurance/Smart AutoCare/Smart AutoCare Admin/FIC
    • Tiptree Warranty Holdings, LLC
    • $190.00
    • Two River Bancorp
    • OceanFirst Financial Corp.
    • $184.40
    • State Bank Corp.
    • Glacier Bancorp, Inc.
    • $135.29
    • Bancorp Of New Jersey, Inc.
    • ConnectOne Bancorp, Inc.
    • $117.47
    • Country Bank Holding Company, Inc.
    • OceanFirst Financial Corp.
    • $102.23

     

    Source S&P Capital IQ as of 4/20/2020 and PCE Proprietary Data

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    Contacts

    David Jasmund

    Orlando Office

    407-621-2111

    Michael Poole

    Orlando Office

    407-621-2112

    Data Assumptions

    This report represents transaction activity as mergers & acquisitions, consolidations, restructurings and spin-offs. Targets are defined as U.S. Based companies with either foreign or U.S. based buyers. Transaction information provided is based on closed dates only.

    Glossary

    EBIT - Earnings Before Interest and Taxes
    EBITDA - Earnings Before Interest, Taxes, Depreciation, Amortization
    LTM - Last Twelve Months
    TEV - Total Enterprise Value

    Sources:

    1. Simon, Ruth, and Peter Rudegeair. “In Race for Small-Business Loans, Winning Hinged on Where Firms Bank.” The Wall Street Journal, Dow Jones & Company, 20 Apr. 2020.
    2. Frankel, Matthew. “Goldman Sachs Earnings Aren't as Bad as You Might Think.” Nasdaq, 15 Apr. 2020.
    3. Son, Hugh. “Goldman's Profit Tumbles 46%, but Bank Posts Strongest Bond-Trading Results in 5 Years.” CNBC, CNBC, 15 Apr. 2020.
    4. Rudegeair, Peter. "Square Gets Green Light to Open a Bank." The Wall Street Journal, Dow Jones & Company, 18 Mar. 2020.
    5. Roof, Katie. "Robinhood is Raising New Funds at About $8 Billion Value, Sources Say." Bloomberg.com, Bloomberg, 15 Apr. 2020.
    6. Wilkinson, Claire. “Members of Congress Push Plan to Force Insurers to Cover Virus Losses.” Business Insurance, 15 Apr. 2020.
    7. "2020: Global Property-Casulaty Insurance M&A in 2019 - Distribution Dominates." Conning.

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