United Bankshares in Charleston, W.Va., has agreed to buy Community Bankers Trust in Richmond, Va.The $27 billion-asset United said in a press release Thursday that it will pay $303.3 million in stock for the $1.7 billion-asset parent of Essex Bank. The deal, which is expected to close in the fourth quarter, priced Community Bankers Trust at 167% of its tangible book value. Community Bankers Trust has 18 branches in Virginia and

First Foundation in Dallas is moving into Florida with an agreement to buy TGR Financial in Naples.The $7.1 billion-asset First Foundation said in a press release Thursday that it will pay $294.8 million in stock for the $2.3 billion-asset parent of First Florida Integrity Bank. The deal, which is expected to close in the second half of this year, priced TGR at 174% of its tangible book value.First Florida has

First Bancorp in Southern Pines, N.C., has agreed to buy Select Bancorp in Dunn, N.C.  The $7.7 billion-asset First Bancorp said in a press release Tuesday that it will pay $314.3 million in stock for the $1.8 billion-asset Select. The deal, which is expected to close in the fourth quarter, priced Select at 185% of its tangible book value. Select has 22 branches and three loan-production offices across North Carolina,

Old National Bancorp in Evansville, Ind., has agreed to buy First Midwest Bancorp in Chicago. The $23.7 billion-asset Old National said in a press release Tuesday that it will pay $2.5 billion in stock for the $21 billion-asset First Midwest. The deal, which is expected to close by early 2022, priced First Midwest at 165% of its tangible book value.First Midwest shareholders will own about 44% of Old National’s stock. The

A wave of large bank mergers has lifted aggregate deal value for 2021 above last year's levels.The overall value for transactions announced through June 1 was $28.9 billion, or more than triple the amount for deals struck over the same period a year earlier, based on data compiled by S&P Global Market Intelligence. The value for all deals announced in 2020 was $27.9 billion.Five proposed sellers in 2021 — People's United

People's Bank of Commerce in Medford, Ore., is one step closer to forming a holding company.Shareholders of the $808 million-asset bank voted on May 19 to create PBCO Financial. People's Bank would become a PBCO subsidiary."The bank has considered the formation of a bank holding company for several years," Ken Trautman, People's Bank's CEO, said in a Wednesday press release."In light of the recent merger with Williamette Community Bank and

United Community Banks in Blairsville, Ga., has agreed to buy Aquesta Financial Holdings in Cornelius, N.C. The $18.6 billion-asset United said in a press release Thursday that it will pay $131 million in cash and stock for the $752 million-asset Aquesta, which is one of the few remaining banks based around Charlotte, N.C. The deal, which is expected to close in the fourth quarter, priced Aquesta at 216.8% of its

HSBC Holdings is selling a majority of its U.S. branches to Citizens Financial Group in Providence, R.I., and Cathay General Bancorp in Los Angeles.The $187.2 billion-asset Citizens agreed to buy 80 branches along the East Coast, along with HSBC's national online deposit business. Citizens said in a press release Wednesday that the deal includes $9 billion of deposits and $2.2 billion of loans. Citizens said it should gain about 800,000 customers