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Announced

Arizona Bank & Trust to acquire Johnson Bank’s Arizona branches.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private

Pending

Acquisition

United States

Friendly

banking

Single Bidder

Majority

Banks

Domestic

Synopsis

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Arizona Bank & Trust, a wholly-owned subsidiary of Heartland, a full-service commercial bank with assets of more than $866m, agreed to acquire Johnson Bank’s Arizona operations from Johnson Financial Group, a privately owned financial services company. Financial terms were not disclosed. “Johnson Bank’s four office locations will be a natural fit with the geographic footprint and culture of Arizona Bank & Trust, and we look forward to growing our relationships in the Phoenix market. We extend a warm welcome to Johnson Bank’s Arizona customers and employees to our organization. The leadership teams of the two institutions will be integrally working together to preserve our commitment to a quality customer experience,” Bruce Lee, Heartland President and CEO.

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