Grasshopper Bank Acquires Auto Club Trust, FSB
April 1, 2025
Grasshopper Bancorp, Inc. (through its subsidiary Grasshopper Bank, N.A.) completed the merger with Auto Club Trust, FSB in a cash-and-stock transaction, making Grasshopper the exclusive provider of depository and lending solutions (excluding credit cards) to more than 13 million AAA–The Auto Club Group members across a 14-state territory. The combined institution has approximately $1.4 billion in assets; Grasshopper raised roughly $34 million in new equity and issued The Auto Club Group an ownership stake, producing a 31% accretion to tangible book value.
- Buyers
- Grasshopper Bancorp, Inc., Grasshopper Bank, N.A.
- Targets
- Auto Club Trust, FSB
- Sellers
- The Auto Club Group, Auto Club Insurance Association
- Industry
- Financial Services
- Location
- Michigan, United States
- Transaction Type
- Buyout
Explore More
Related Acquisitions
-
West Shore Bank Acquires Wealth Management Business of Auto Club Trust, FSB
March 31, 2025
Wealth Management
West Shore Bank of Ludington, Michigan completed the acquisition of the Wealth Management, Investment Advisory and Trust services business of Auto Club Trust, FSB (Dearborn, MI) in an all-cash transaction effective March 31, 2025. Financial terms were not disclosed; West Shore Bank will continue to operate the business in Southeast Michigan (initially in Dearborn) and will welcome the acquired customers and employees into its wealth management operations.
-
EverBank Financial Corp Acquires Sterling Bank and Trust, F.S.B.
March 31, 2025
Financial Services
EverBank Financial Corp (through EverBank, N.A.) completed the acquisition of Sterling Bank and Trust, F.S.B. from Sterling Bancorp, Inc., acquiring 25 branches, approximately $900 million of loans and about $2.0 billion in deposits. Sterling Bancorp received a fixed purchase price of $261 million and will file a certificate of dissolution as Sterling Bank is merged into EverBank effective April 1, 2025.
-
AF Group (via Accident Fund) Acquires AmeriTrust Group
April 12, 2022
Financial Services
AF Group, through its subsidiary Accident Fund Insurance Co. of America, has agreed to acquire AmeriTrust Group. The deal — terms undisclosed — brings AmeriTrust’s specialty commercial property & casualty, workers’ compensation and automotive insurance programs into AF Group’s portfolio, expanding its specialty insurance capabilities.
-
US Auto Trust Acquires Boardwalk Auto Group (Dallas)
October 7, 2025
Automotive
US Auto Trust has acquired Boardwalk Auto Group's Dallas operations, adding Ferrari, Lamborghini, Maserati, Pagani and Czinger dealerships to its portfolio. The transaction expands US Auto Trust's luxury automotive retail footprint and strengthens its presence in the Texas high-end vehicle market.
-
Citizens Financial Group Acquires 80 HSBC East Coast Branches and National Online Deposit Business
February 22, 2022
Financial Services
Citizens Financial Group has closed its acquisition of 80 East Coast branches and the national online deposit business from HSBC Bank U.S.A., N.A., adding more than 800,000 customer accounts and rebranding the branches as Citizens. The deal expands Citizens' physical presence in the New York City metro, Mid-Atlantic and Southeast Florida markets and brings more than 500 former HSBC employees to Citizens as part of the conversion.
-
Hub International Acquires AFS 401(k) Retirement Services and AFS Financial Group
December 4, 2023
Financial Services
Hub International Limited has acquired the assets of AFS 401(k) Retirement Services, LLC and AFS Financial Group, LLC, two Bethesda, Maryland-based retirement plan consulting and wealth management firms. The acquisition will expand Hub's Retirement and Private Wealth capabilities and integrate the AFS team into Hub's Mid-Atlantic practice; terms were not disclosed.
Track M&A activity that matters to you
Get real-time deal alerts, build buyer lists with AI, and access our full acquisition database. Start your free trial today.