News & Knowledge
Troutman Sanders Advises BNC Bancorp on $1.9 Billion Merger with Pinnacle Financial Partners
ATLANTA, January 26, 2017 - Troutman Sanders LLP advised BNC Bancorp in connection with the signing of a definitive merger agreement with Pinnacle Financial Partners, Inc. On a pro forma basis, Pinnacle is expected to be a top 50 public U.S. banking franchise by assets, with $20 billion in assets. Based on Pinnacle’s 20-day trailing average closing price as of Friday, January 20, 2017, the transaction is valued at approximately $35.70 per share, or $1.9 billion in the aggregate. Detailed information on the transaction can be found here.
Troutman Sanders previously advised BNC in connection with its acquisitions of High Point Bank Corporation and Southcoast Financial Corporation and its purchase of seven South Carolina branches of CertusBank, N.A.
The firm’s Financial Institutions Practice has a long history of service to financial institutions. Its lawyers have substantial experience in mergers and acquisitions, public and private offerings, de novo formations, securities reporting, corporate governance and regulatory compliance and negotiations. Troutman Sanders is advising on more currently pending M&A transactions in the Southeast than any other law firm. According to S&P Global Market Intelligence data, since January 1, 2013, Troutman Sanders has advised on more M&A transactions involving companies acquired in its primary market area – Georgia, Virginia and the Carolinas – than any other law firm.
About Troutman Sanders LLP
Troutman Sanders LLP is an international law firm with more than 650 lawyers in 16 offices located throughout North America and Asia. Founded in 1897, the firm’s lawyers provide counsel and advice in practically every aspect of civil and commercial law related to the firm’s core practice areas: Corporate, Energy and Industry Regulation, Finance, Litigation and Real Estate. Firm clients range from multinational corporations to individual entrepreneurs, federal and state agencies to foreign governments, and non-profit organizations to businesses representing virtually every sector and industry. See troutmansanders.com for more information.