Nothing but negotiation

The Gap Partnership

Park Sterling and Citizens South merge

Citizens South and Park Sterling have merged.

14 May 2012

Park Sterling Corporation and Citizens South Banking Corporation have been in business negotiations and have announced they have signed a definitive merger agreement.

Under the terms of the transaction, Citizens South will be acquired by Park Sterling for $77.8 million (£48.38 million).

Furthermore, preferred stock valued at $20.5 million will be transferred to the Department of the Treasury in the US as part of Citizens South's participation in the nation's Small Business Banking Fund.

Negotiation skills have enabled the agreement to have been approved unanimously by each company's board of directors.

The combined enterprise will have 45 branches, spreading across North Georgia and the Carolinas, as well as total assets of approximately $2.2 billion.

"Our proposed merger with Citizens South is the culmination of extensive due diligence and thoughtful discussions," Park Sterling chief executive officer James Cherry revealed.

Recently, Park Sterling Bank and CapitalBank merged, with all of CapitalBank's branches operating under the Park Sterling logo.

Posted by Ron Maverick

Source: Joint press release, May 14th

Gap News

March 2014

The Negotiation Roadshow 2014

Generating value through creative negotiation

Read more

July 2013

Trading Global: Negotiating in the Far East

The Gap Partnership are hosting a complimentary Lunch & Learn seminar in association with UK Trade & Investment

Read more

April 2013

GroceryAid Negotiation Event Raises £26,550

The Gap Partnership, in conjunction with Asda, SC Johnson and Waitrose, host one-day negotiation workshop

Read more

February 2013

Trading Global - Negotiating in the Far East

What is the impact of cultural differences on your negotiations?

Read more

December 2012

The Gap Partnership Release New Negotiation Video

The Nothing but Negotiation video series continues with collaborative negotiation

Read more