City Holding Company completed its acquisition of Citizens Commerce Bancshares, the parent company of Citizens Commerce Bank, headquartered in Versailles, KY. The acquisition became effective as of the close of business on March 10.
Renasant Corporation and its wholly-owned subsidiary, Renasant Bank, acquired Republic Business Credit in an all-cash transaction. RBC is a commercial finance company with average earning assets in excess of $100 million.
City Holding Company, the parent company of City National Bank of West Virginia, signed a definitive merger agreement in which City will acquire Citizens Commerce Bancshares, the parent company of Citizens Commerce Bank, Versailles, KY.
Austin Financial Services, a California-based provider of asset-based lending solutions to small and medium sized businesses for more than 40 years, closed a $115 million debt recapitalization with two lenders, lowering the company’s overall cost of capital.
Arizona Federal Credit Union will acquire substantially all of the assets and assume substantially all of the liabilities of Horizon Community Bank for cash consideration of $91.4 million, subject to certain adjustments.
Peoples Bank entered into a definitive agreement to acquire Vantage Financial, a provider of equipment financing headquartered in Excelsior, MN. Peoples Bank will purchase 100% of the equity of Vantage Financial for total cash consideration of $54 million.
Great Elm Capital, a business development company, acquired a majority equity interest in Sterling Commercial Credit, an asset-based lender.
Clarus Capital launched as a new commercial finance company focused on delivering capital solutions to finance tangible assets for leveraged middle-market companies. The new company was founded by former executives of NewStar Financial.
Seacoast Banking Corporation of Florida, the holding company for Seacoast Bank, entered into agreements to acquire Sabal Palm Bancorp, parent company of Sabal Palm Bank, and Business Bank of Florida, parent company of Florida Business Bank.