trending Market Intelligence /marketintelligence/en/news-insights/trending/hxYoLmzsC9hg_BhUHNSxTQ2 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

In Pennsylvania, Fidelity D & D Bancorp to acquire MNB for $78.5M

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments


In Pennsylvania, Fidelity D & D Bancorp to acquire MNB for $78.5M

Dunmore, Pa.-based Fidelity D & D Bancorp Inc. agreed to acquire Bangor, Pa.-based MNB Corp. for $78.5 million, or $69.30 on a per-share basis, based on Fidelity's 20-day average closing price as of Dec. 6.

MNB shareholders will receive 1.039 Fidelity D & D Bancorp common share for each MNB common share that they own as of the closing date. The deal is expected to close in the second quarter of 2020.

MNB unit Merchants Bank of Bangor will merge into Fidelity Deposit and Discount Bank. Two representatives from MNB will join the boards of Fidelity D & D Bancorp and the unit, respectively, at the closing of the deal.

S&P Global Market Intelligence calculates the deal is 200.4% of common equity and 200.4% of tangible common equity and 20.9x earnings, on an aggregate basis. The deal value is 19.06% of assets, 21.95% of deposits and the tangible book premium to core deposits ratio is 11.56%.

S&P Global Market Intelligence valuations for bank and thrift targets in the Mid Atlantic region between Dec. 10, 2018, and Dec. 10, 2019, averaged 140.58% of book and 148.41% of tangible book and had a median of 15.66x last-12-months earnings, on an aggregate basis.

Based on financial results as of Sept. 30, the combined company would have pro forma total assets of approximately $1.46 billion, total deposits of approximately $1.28 billion and loans of approximately $1 billion. Once the deal closes, Fidelity Deposit and Discount Bank will operate 21 retail community banking offices in northeastern and eastern Pennsylvania.

Fidelity D & D Bancorp will enter Northampton County, Pa., with nine branches to be ranked seventh with a 5.71% share of approximately $6.19 billion in total market deposits.

Bybel Rutledge LLP is the legal counsel and Commonwealth Advisors is the financial adviser to Fidelity D & D Bancorp. Mette Evans & Woodside is legal counsel, and Olsen Palmer LLC is the financial adviser to MNB Corp.

As of Sept. 30, Fidelity Deposit and Discount Bank had total assets of $1.01 billion and Merchants Bank of Bangor had total assets of $412.8 million.

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