M&A · Financials · State Commercial Banks
Citizens Financial Services Inc to acquire HV Bancorp, Inc.
Announced Oct 19, 2022 · Closed Jun 16, 2023
Deal value$68M
Premium44.0%To unaffected price
EV / Adj. EBITDA—
ConsiderationCash and stock$30.50 per share
Transaction
- Acquirer
- Citizens Financial Services Inc (CZFS)
- Target
- HV Bancorp, Inc. (HVBC)
- Buyer type
- Strategic
- Offer price per share
- $30.50
- Enterprise value
- —
- Status
- Closed Jun 16, 2023
Deal protections
- Break fee (target pays)
- —
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Janney Montgomery Scott
- To the target
- The Kafafian Group
Sector context · Financials
- Comparable deals
- 84 in the prior 24 months
- Premium
- 44.0% vs. 31.0% sector median
- EV / Adj. EBITDA
- Sector median 23.7x
- Break fee
- Sector median 3.6%
Timeline
- AnnouncedOct 19, 2022
- Proxy filedJan 5, 2023
- Definitive proxyJan 5, 2023
- Shareholder voteFeb 15, 2023
- ClosedJun 16, 2023