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

SouthPoint Bancshares Acquires Merchants Financial Services

January 6, 2022

Financial Services

SouthPoint Bancshares, Inc. completed a strategic merger with Merchants Financial Services, Inc., with SouthPoint as the surviving entity. Merchants Bank of Alabama was merged into SouthPoint Bank as a division, creating a combined organization with over $1.0 billion in assets, approximately $0.9 billion in deposits and 10 branches, extending SouthPoint’s franchise along the I‑65 corridor into Cullman, Hanceville and Arab, Alabama.

Community Financial System to Acquire ClearPoint Federal Bank & Trust for $40 Million

January 16, 2026

Financial Services

Community Financial System agreed to acquire ClearPoint Federal Bank & Trust in an all-cash transaction valued at $40 million. The deal is expected to expand Community Financial’s wealth management capabilities through ClearPoint’s trust administration platform for the death care industry, with ClearPoint retaining its brand and offerings.

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

February 22, 2021

Financial Services

M&T Bank Corporation will acquire People’s United Financial in an all-stock transaction valued at approximately $7.6 billion. Under the definitive agreement, People’s United shareholders will receive 0.118 shares of M&T common stock for each share they own, and the combined company is expected to create a community-focused banking franchise across 12 states plus Washington, D.C.

Old National Bancorp and First Midwest Bancorp Announce $6.5 Billion Merger

June 1, 2021

Financial Services

Old National Bancorp (NASDAQ: ONB) and First Midwest Bancorp (NASDAQ: FMBI) have entered into a definitive merger agreement to combine in an all-stock merger of equals valued at $6.5 billion. The combined company will operate under the Old National Bancorp and Old National Bank names with dual headquarters in Evansville, Indiana and Chicago, Illinois, and the deal is expected to close in late 2021 or early 2022 subject to approvals.

United Bancorporation of Alabama, Inc. Acquires Town-Country National Bank

March 16, 2021

Financial Services

United Bancorporation of Alabama, Inc. (United Bank) signed a definitive agreement to acquire Town-Country National Bank, a Camden, Alabama community bank with approximately $126.2 million in assets, for aggregate cash consideration of $28.5 million. Town-Country will rebrand as Town-Country United Bank and operate as a separate banking subsidiary; TCNB shareholders will receive cash consideration (with a portion paid as a special dividend) and the deal is expected to close in early Q3 2021 subject to shareholder and regulatory approvals.

Colony Bankcorp to Acquire TC Bancshares in $86.1 Million Merger

July 23, 2025

Financial Services

Colony Bankcorp, Inc. (NYSE: CBAN) announced it has signed a definitive merger agreement to acquire 100% of TC Bancshares, Inc. (OTCQX: TCBC) in a combined stock-and-cash transaction valued at approximately $86.1 million. The deal is expected to create a stronger community banking franchise with expanded capabilities and long-term growth in key Georgia and Florida markets, and is expected to close in Q4 2025 subject to regulatory and shareholder approvals.