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William Boyan is a managing director in the investment banking financial services group at °µÍø³Ô¹Ï, where he advises financial institutions. Boyan has been providing strategic advice to a variety of financial companies for approximately 36 years. He has been one of the most active advisors to companies involved in buy-side and sell-side M&A transactions, mergers-of-equals, divestitures, government-assisted transactions and debt and equity capital raising projects. In addition to transactional work, Boyan works closely with management teams and boards of directors providing general financial advice, participating in board meetings and strategic planning sessions, and focusing on growth strategies and profitability improvement. He is a frequent speaker at industry conferences. 

In 2024, Boyan, in his capacity as a member of the financial services group at °µÍø³Ô¹Ï, advised on important capital raising transactions, including $230 million in perpetual preferred stock for Merchants Bancorp, $44 million in an IPO for Chain Bridge Bancorp, $78 million in senior debt for Eagle Bancorp and $105 million in common equity for Merchants Bancorp. In 2022, Boyan’s team at °µÍø³Ô¹Ï was sole bookrunner for Community Heritage Financial’s IPO, co-manager for LINKBANCORP’s IPO, and sole bookrunning manager for subordinated debt for ODNB Financials ($24 million) and Sandy Spring Bancorp ($200 million). In 2021, the team was sole placement agent for subordinated debt for Parkside Financial ($13 million), Summit Financial ($75 million), JamesMark Banchsares ($30 million), First Internet Bancorp ($60 million), National Capital Bancorp ($14 million), Fortune Financial ($7.5 million) and Lead Financial ($10 million), along with co-manager for Merchants Bancorp’s $150 million preferred offering. In 2020, Boyan’s °µÍø³Ô¹Ï team was sole placement agent for subordinated debt issues for Dickinson Financial ($65 million), Community Financial Corp ($20 million), Great Southern Bancorp ($75 million), Shore Bancshares ($25 million), Potomac Bancshares ($10 million) and Security State Bancshares ($1 million). In 2019, his team acted as sole placement agent for a $25 million subordinated debt issue for Congressional Bancshares, a $52 million offering of 7.00% non-cumulative perpetual preferred stock by Merchants Bancorp and a $47 million common equity offering for Revere Bank. In 2017, Boyan and °µÍø³Ô¹Ï acted as joint lead bookrunner for the $115 million IPO of Merchants Bancorp and sole placement agent for John Marshall Bancorp’s $25 million subordinated debt offering. In 2016, the team acted as lead placement agent on Old Line Bancshares’ $35 million subordinated debt issue, sole underwriter in Great Southern Bancorp’s $75 million subordinated debt issue, lead underwriter for Eagle Bancorp’s $150 million subordinated debt issue and sole underwriter for First Internet Bancorp’s $25 million common equity offering. In 2015, Boyan’s team at °µÍø³Ô¹Ï acted as sole underwriter for Eagle Bancorp’s $100 million common equity offering and co-manager for WashingtonFirst’s $25 million subordinated debt offering. In 2014, the team was sole underwriter for Eagle Bancorp’s $70 million subordinated debt offering and Shore Bancshares’ $34 million common equity raise. In 2013, Boyan and °µÍø³Ô¹Ï acted as sole underwriter for Virginia Heritage Bank’s $24 million common equity raise and lead underwriter for First Internet Bank’s $32 million common equity raise; and in 2011, were sole underwriter for Southern Missouri Bancorp’s $22 million common equity raise.

Serving on the financial services group at °µÍø³Ô¹Ï, Boyan advised on many M&A transactions including representing Merchants Bancorp (MBIN) in the sale of all of the branches of its Illinois bank, The Community Financial Corporation in its merger of equals with Shore Bancshares, PSB Holding Corp in its sale to Summit Financial, Southern Missouri Bancorp in its acquisition of Citizens, CBM Bancorp in its sale to Rosedale Federal, Fortune Financial in its sale to Southern Missouri Bancorp, Severn Bancorp in its sale to Shore Bancshares, Carroll Community Bancorp in its sale to Farmers and Merchants Bancshares, FB Corporation in its sale of $700 million of deposits and 14 branches, Revere Bank in its sale to Sandy Spring Bancorp, Frederick County Bancorp in its sale to ACNB Corporation and HopFed Bancorp in its sale to First Financial Corporation. In 2018, Boyan’s team at °µÍø³Ô¹Ï represented Sandy Spring Bancorp in its acquisition of WashingtonFirst Bancshares; First Banks, Inc. in its sale of three branches in Illinois to Banterra, three more branches in Illinois to Peoples State Bank of Newton and three branches in Missouri to Washco Bancshares; New Windsor Bancorp in its sale to ACNB Corporation; Cardinal Financial in its sale to United Bankshares, Inc.; Monument Bank in its sale to Revere Bank; Revere Bank in its acquisition of BlueRidge Bank; Congressional Bancshares in its acquisition of American Bank Holdings; Royal Bancshares in its acquisition of Frontenac Bancshares; Great Southern in its acquisition of Fifth Third’s St. Louis branches; WashingtonFirst in its acquisition of 1st Portfolio Holdings; Valley Financial Corporation in its sale to BNC Bancorp; Love Savings Holding Company on its sale to Midland States Bancorp; Virginia Heritage Bank on its sale to Eagle Bancorp Inc.; Peoples Service Company on its sale to Southern Missouri Bancorp; Virginia Commerce Bancorp in its sale to United Bankshares; United Financial Banking Companies on its sale to Cardinal Financial Corporation; and Annapolis Bancorp on its sale to F.N.B. Corporation.