M&A · Financials · Savings Institution, Federally Chartered
Cambridge Financial Group, Inc. to acquire First Seacoast Bancorp, Inc.
Announced May 5, 2026 · Closed Oct 1, 2026
Deal value$81M
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash
Transaction
- Acquirer
- Cambridge Financial Group, Inc.
- Target
- First Seacoast Bancorp, Inc. (FSEA)
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Oct 1, 2026
Deal protections
- Break fee (target pays)
- $3.5M · 4.3%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Piper Sandler
- To the target
- Stifel
Sector context · Financials
- Comparable deals
- 74 in the prior 24 months
- Premium
- Sector median 35.9%
- EV / Adj. EBITDA
- Sector median 13.7x
- Break fee
- 4.3% vs. 3.7% sector median
Timeline
- AnnouncedMay 5, 2026
- Proxy filedJun 23, 2026
- Definitive proxyJul 23, 2026
- Shareholder voteAug 27, 2026
- ClosedOct 1, 2026
Valuation · fairness opinions
Discounted cash flow$8.47$11.92
Implied value per First Seacoast Bancorp, Inc. share by analysis, from Stifel · DCF discount rate 13%–16%.