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Announced

Completed

Blue Ridge completed the merger with Bay Banks in a $100m deal.

Financials

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Transaction Value£77m
Consideration TypeOrdinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Domestic

bank holding company

Public

Banks

United States

Friendly

Merger

Majority

Single Bidder

Completed

Synopsis

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Blue Ridge Bankshares, the parent holding company of Blue Ridge Bank, completed the merger with Bay Banks, the parent holding company of Virginia Commonwealth Bank, in a $100m deal. "We have great respect for Brian, and the company Blue Ridge has built. Blue Ridge has achieved record revenue for the first half of 2020 driven by strong mortgage-related income. This is a great combination of two companies with rich Virginia histories dating back over 200 years combined," Randy Greene, Bay Banks CEO.

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