Sparta Union Bancshares, Inc. (Sparta) hired Baker Tilly Capital to sell the holding company. The Sparta Board of Directors decided the time was right to sell the holding company and its wholly-owned subsidiary, Union National Bank & Trust, as the operating bank faced an environment of increased regulatory demands and higher operating costs. Our client sought a larger local buyer to acquire the bank and preserve as many jobs as possible while increasing the bank’s presence in the area.
Baker Tilly Capital solution
The investment banking team at Baker Tilly Capital worked closely with Sparta’s Board of Directors throughout the sale process. Leveraging deep banking industry knowledge, our team carefully narrowed down the list of prospective buyers to not only provide the highest purchase price, but also maintain the bank’s operations in the community, and also assisted the Board in evaluating complex issues during the due diligence and regulatory review processes.
The Baker Tilly Capital team identified and evaluated potential buyers, eventually recommending River Holding Company, which already owned two community banks in the region, River Bank and Wisconsin River Bank. River Holding Company intends to consolidate some back-office operations but keep Union National Bank & Trust a stand-alone local bank, preserving jobs and the bank’s legacy.
“I thoroughly enjoyed working with the Baker Tilly Capital team as they advised and guided the Board through a complex process and obtained a result that met all of our goals.”
Ron Wall, Shareholder and Board Member – Sparta Union Bancshares, Inc.
For more information on this deal, or to learn how Baker Tilly Capital specialists can help, contact our team.