Mercer Capital Renders Fairness Opinion to Tennessee-based Bank

On January 23, 2020, Nashville-based CapStar Financial Holdings, Inc. (NASDAQ: CSTR), the parent company of CapStar Bank, announced a definitive merger agreement with FCB Corporation, its wholly-owned subsidiary The First National Bank of Manchester, and The Bank of Waynesboro providing FCB to merge with and into CapStar.

As of December 31, 2019, FCB Corporation and The Bank of Waynesboro had combined assets of $467 million. Upon completion of the transaction, CapStar is expected to have total consolidated assets of approximately $2.5 billion.

Mercer Capital rendered a fairness opinion on behalf of the Special Committee of Independent Directors of the Bank of Waynesboro.

Jeff Davis, Managing Director of the Financial Institutions Group of Mercer Capital, commented, “Consolidation in the banking industry shows no signs of slowing.  We were delighted to work with the independent committee which represented approximately 49% of the Bank’s shares that are not owned by FCB to evaluate the fairness of the consideration to be paid  and process followed that resulted in the merger agreement.”

Mercer Capital has provided business valuation, M&A and other financial advisory services to clients across the nation for more than 35 years. For more information, contact Jeff Davis.