trending Market Intelligence /marketintelligence/en/news-insights/trending/ghVRF9kYZV_gk1qmO-R-HA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Connecticut-based Liberty Bank to acquire SBT Bancorp in $71M deal

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Street Talk Episode 70 - Banks' Liquidity Conundrum Could Fuel M&A Activity

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go


Connecticut-based Liberty Bank to acquire SBT Bancorp in $71M deal

Middletown, Conn.-based Liberty Bank agreed to acquire Weatogue, Conn.-based SBT Bancorp Inc. and unit Simsbury Bank & Trust Co. in a deal valued at about $71 million.

Upon the deal completion, each SBT Bancorp shareholder will receive $51.32 per share in cash. The transaction is expected to close in September.

On a per-share basis, SNL calculates that the deal value is 202% of book and tangible book and 17.1x earnings.

SNL valuations for bank and thrift targets in the Northeast region between March 21, 2018, and March 21, 2019, averaged 163.26% of book and 158.65% of tangible book and had a median of 29.93x last-12-months earnings, on a per-share basis.

The deal has a one-day premium of 44.28%, based on SBT's closing price of $35.57 as of March 20, and a one-month premium of 43.35%, based on SBT's closing price of $35.80 as of Feb. 21.

Liberty Bank will expand in Hartford County, Conn., by six branches to be ranked eighth with a 2.39% share of approximately $39.42 billion in total market deposits.

Liberty Bank has $5.1 billion in assets and more than $738 million in capital. Simsbury Bank & Trust has total assets of about $480 million.

Cranmore FitzGerald & Meaney represented Liberty Bank in the deal. Piper Jaffray & Co. advised SBT Bancorp, while Day Pitney LLP served as its legal counsel.

To use S&P Global Market Intelligence's branch analytics tools to compare market overlap, click here. To create custom maps, click here.

SNL Image