Vista Bancshares, Inc. Announces Agreement To Acquire Charis Holdings, Inc.
Jan 30, 2023•almost 3 years ago
Acquiring Company
Vista Bancshares
Acquired Company
Charis Holdings
FinanceFinancial ServicesBankingLending
Description
Vista Bancshares, Inc. ("Vista"), the holding company for Vista Bank, announced that it has entered into a definitive agreement to acquire Charis Holdings, Inc. ("Charis") and its subsidiary, Charis Bank. Working with Charis' historically strong core deposit base in a high-growth market and partnering with their well-respected, community-leading investors, the transaction will expand Vista Bank's footprint and lending ability while maintaining the Bank's commitment to responsible growth and strategic M&A.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed