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    Banking, Finance & Insurance Q4 2021

    Q4 2021 Banking Finance Insurance

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Allstate Life Insurance Company/Allstate Assurance Company
    • Blackstone Inc.
    • $3,050.00
    • Cadence Bancorporation
    • Cadence Bank
    • $2,869.29
    • SAFG Retirement Services, Inc.
    • Blackstone Inc.
    • $2,200.00
    • Service Finance Company, LLC
    • Truist Bank
    • $2,000.00
    • EnerBank USA
    • Regions Bank
    • $960.00
    • Altabancorp
    • Glacier Bancorp, Inc.
    • $933.63
    • Kroll Bond Rating Agency, LLC
    • PCP Managers, L.P.
    • $900.00
    • Align financial holdings, LLC
    • DUAL North America Inc.
    • $800.00
    • Century Bancorp, Inc.
    • Eastern Bankshares, Inc.
    • $641.87
    • Spending Account Business of MII Life Insurance, Incorporated/SamCo Services, LLC
    • Viking Acquisitions Corp.
    • $500.00

    Other Financial Buyer Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Ability Insurance Company
    • Mount Logan Capital Inc.
    • $18.92

    Other Strategic Buyer Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Gabi Personal Insurance Agency, Inc.
    • Experian plc
    • $320.00
    • Select Bancorp, Inc.
    • First Bancorp
    • $314.27
    • Community Bankers Trust Corporation
    • United Bankshares, Inc.
    • $304.70
    • West Suburban Bancorp, Inc.
    • Old Second Bancorp, Inc.
    • $297.22
    • TGR Financial, Inc.
    • First Foundation Inc.
    • $295.07
    • Homeowners Association Services Division of MUFG Union Bank, National Association
    • Pacific Western Bank
    • $255.00
    • Pacific Mercantile Bancorp
    • Banc of California, Inc.
    • $246.41
    • The Westchester Bank Holding Corporation
    • Valley National Bancorp
    • $243.90
    • All assets of Jacobson, Goldfarb & Scott, Inc.
    • Armfield, Harrison & Thomas, LLC; Millennial Specialty Insurance, LLC
    • $238.78
    • County Bancorp, Inc.
    • Nicolet Bankshares, Inc.
    • $218.95
    • Landmark Community Bank (Memphis, TN)
    • Simmons Bank
    • $146.39
    • Triumph Bancshares, Inc.
    • Simmons Bank
    • $131.70
    • Riverview Financial Corporation
    • Mid Penn Bancorp, Inc.
    • $127.05
    • Cortland Bancorp
    • Farmers National Banc Corp.
    • $124.04
    • Summit Funding Group, Inc.
    • First Financial Bancorp.
    • $121.28
    • FNBH Bancorp, Inc.
    • Arbor Bancorp, Inc.
    • $116.52
    • Aquesta Financial Holdings, Inc.
    • United Community Banks, Inc.
    • $105.37

     

    Source S&P Capital IQ as of 1/11/2022 and PCE Proprietary Data

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    PCE Transactions

    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. Lerner, Matthew. "Insurance Sector M&A Activity Accelerating: PWC." Business Insurance, PricewaterhouseCoopers LLP, 9 Dec. 2021.
    2. Motavalli, Jim. "Hagerty Goes Public, amidst Rapid Collector Car Expansion." Autoweek, Autoweek, 6 Dec. 2021.
    3. Steinberg, Julie. "Allianz Strikes Deal over Management of $35 Billion in U.S. Annuities." The Wall Street Journal, Dow Jones & Company, 3 Dec. 2021.
    4. Kar-gupta, Sudip, and Nichola Saminather. "Bank of Montreal Expands U.S. Presence with $16 Bln Purchase of Bank of the West from BNP Paribas." Reuters, Thomson Reuters, 20 Dec. 2021.
    5. Ackerman, Andrew. "Fannie Mae, Freddie Mac to Back Home Loans of Nearly $1 Million." The Wall Street Journal, Dow Jones & Company, 30 Nov. 2021.
    6. Lim, Dawn, and Justin Baer. "Blackrock to Pull $2 Trillion in Assets from State Street." The Wall Street Journal, Dow Jones & Company, 7 Dec. 2021.
    7. Gottfried, Miriam, and Corrie Driebusch. "TPG Launches IPO Roadshow Seeking Valuation around $9.5 Billion." The Wall Street Journal, Dow Jones & Company, 4 Jan. 2022.

     

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