M&T Bank Corporation to Acquire People’s United Financial in $7.6 Billion All-Stock Deal

United Bankshares to Acquire Piedmont Bancorp

May 10, 2024

Financial Services

United Bankshares entered into a definitive merger agreement to acquire Piedmont Bancorp, the parent company of The Piedmont Bank, in an all-stock transaction valued at approximately $267 million. The deal received all required regulatory approvals, with the merger expected to close in early 2025 and Piedmont to merge into United.

Goldman Sachs to Acquire People Corporation for $1.13 Billion

December 18, 2020

Staffing & HR

Goldman Sachs Group Inc.’s merchant banking division entered into an arrangement agreement to acquire all of the issued and outstanding common shares of People Corporation for $15.22 per share in cash, valuing the equity at about $1.13 billion. The transaction is supported by People Corporation’s board and comes after a strategic alternatives review by an independent directors’ special committee.

FNB Corporation to Acquire UB Bancorp (Union Bank) in All-Stock Merger

July 21, 2022

Financial Services

UB Bancorp, parent of Union Bank, announced that it has signed a definitive merger agreement under which FNB Corporation will acquire UB Bancorp in an all-stock transaction. The deal is contemplated to close during the fourth quarter of 2022, subject to regulatory approval and UB Bancorp and FNB shareholder approvals.

Peoples Financial Services Corp. Completes Merger with FNCB Bancorp, Inc.

July 30, 2024

Financial Services

Peoples Financial Services Corp. (PFIS) completed the merger with FNCB Bancorp, Inc., effective July 1, 2024, and merged FNCB Bank into Peoples Security Bank and Trust Company (PSBT). PFIS executives rang the Nasdaq closing bell on July 30, 2024 to commemorate the combination, which PFIS says will expand its market presence and strengthen service capabilities across its community banking footprint.

Peoples Bank (Peoples Bancorp) Acquires Vantage Financial

February 16, 2022

Financial Services

Peoples Bank, a wholly owned subsidiary of Peoples Bancorp Inc., acquired Vantage Financial for $54 million in cash and agreed to repay approximately $21 million of Vantage recourse debt; the deal closed in March 2022. Vantage will continue to operate under its name as a subsidiary, with the majority of its leadership staying in place while co-founder Bob Murphy retires.

TowneBank to Acquire Old Point Financial Corporation in $203 Million Merger

April 7, 2025

Financial Services

TowneBank and Old Point Financial Corporation announced an agreement and plan of merger in which TowneBank will acquire Old Point and Old Point National Bank. The all-cash or stock consideration values the deal at approximately $203 million based on Old Point’s outstanding common stock, and the transaction is expected to close in late 2025 subject to customary conditions.