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Acquisition Of Bank By Financial Services Company

Location  United States
Asking Price Range  $10.0M - $20.0M
Gross Revenues  $6200000
Net Profit / Cash Flow  $800000
Cash Flow Type  EBITDA
Seller Finance  Not Disclosed
Year Established  1965
Number of Employees  20 - 34
Relocatable  No
Number of Employees  20 - 34
Real Estate  Leased
Reason for Sale  Seeking $12 million debt & equity financing.

Investment Highlights: **$51 million in assets with $6.2 million in retained earnings **Bank in business 42 years **Current bank president 35 years tenure with bank **Bank VP is a CPA with 23 years tenure with bank **5-year average pretax earnings $782,000 **2007 midyear pretax earnings $832,000 **No exposure to subprime losses **Bank owns branch location real estate **Acquisition integrates with all current activity The Financial Services Company, headquartered in the state of Washington, is seeking $12 million in debt and equity financing to acquire a Midwest bank in order to diversify its business lines. Already a successful loan originator, contract processor, and settlement service provider in 30 U.S. states, The Company is adding a federally chartered single-branch conservative Midwest bank with an insurance subsidiary to its business holdings. Having survived the recent troubles in the mortgage industry, The Company will be able to leverage the licensing and assets of the bank to introduce new and existing customers to new product lines, thereby building value through proven cross-selling of products and services. The bank's federal charter will allow The Company to eliminate multiple state licensing requirements for its originators, which will greatly enhance the already vibrant growth. The Company will begin deploying its on staff experts to build a web portal to enable offering online banking and insurance services, and is planning to open a Washington state branch of the bank in 2008. The bank is located in the Midwest and specializes in serving its small business and farming community. The bank is a perfect fit for this Financial Services Company, which is already situated in a community built on small business and surrounded by agricultural-related activities.

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