Eight Hungry Bank Buyers

These banks have money to spend, strong stocks and a stated goal of expansion through M&A. Look for them to buy a bank this year or early next year. After all, dealmaking takes time.

Related Articles: Bulls Could Drive Bank Buyers in Second Half

Ready, Aim ... Holding Fire on M&A

(Image: Thinkstock)

CVB Financial (CVBF) CVB Financial (CVBF) HQ: Ontario, Calif.
Assets: $6.2B
Tangible common equity: 11.4%
Tangible book value: $6.77/share
Closing Price on July 17: $12.68/share

CVB's last deal was for a failed bank in 2009, but CEO Chris Myers told investors in May that it is holding on to excess capital for use in an acquisition. "It's come a little slower than we would like," he said.

Related Articles: Ready, Aim ... Holding Fire on M&A

First California Relents, Agrees to Sell to PacWest

First Community Bancshares (FCBC) First Community Bancshares (FCBC) HQ: Greensboro, Va.
Assets: $2.7B
Tangible common equity: 9.59%
Tangible book value: $10.90/share
Closing Price on July 17: $16.75/share

Consolidation in Virginia is heating up, and First Community is widely viewed as a player. CEO John Mendez is meeting with executives at small banks in North Carolina and Virginia, KBW analysts say.

Related Articles: First Community in Virginia Boosted by Deals

More Bank M&A on the Way in Virginia

F.N.B. Corp (FNB) F.N.B. Corp (FNB) HQ: Hermitage, Pa.
Assets: $12.4B
Tangible common equity: 6.22%
Tangible book value: $5/share
Closing Price on July 17: $12.79/share

F.N.B., led by Vincent Delie Jr., has announced three small acquisitions in the last nine months and is expected to woo more sellers with its rich stock.

Related Article: F.N.B. Expands in Baltimore with BCSB Acquisition

Heartland Financial USA (HTLF) Heartland Financial USA (HTLF) HQ: Dubuque, Iowa.
Assets: $5B
Tangible common equity: 5.8%
Tangible book value: $16.52/share
Closing Price on July 17: $29.39/share

Heartland announced a deal in June in the Kansas City market, and CEO Lynn Fuller is aiming for three deals a year until prices get too high. He has 25 to 30 banks on his watchlist.

Related Article: Warning: Window Closing Fast on Affordable Bank Deals

IberiaBank Corp. (IBKC) IberiaBank Corp. (IBKC) HQ: Lafayette, La.
Assets: $13B
Tangible Common Equity: 8.75%
Tangible Book Value: $36.93/share
Closing Price on July 17: $56.64/share

The serial acquirer led by Daryl Byrd has been on the sidelines for a year since its acquisition of Florida Gulf Bancorp. Expect it to buy a bank, mostly likely in Tennessee or North Carolina, within the next year, KBW analysts say.

Related Article: How Bank M&A is Reshaping the South

(Image: Michael Chu)

Independent Bank Group (IBTX) Independent Bank Group (IBTX) HQ: McKinney, Texas
Assets: $1.8B
Tangible common equity: 10.4%
Tangible book value: $11.16/share
Closing Price on July 17: $31.57/share

The suburban Dallas bank was already the second busiest acquirer in the Lone Star State before raising $87 million in an initial public offering in April. CEO David Brooks is on the prowl for smaller banks that bigger buyers like Prosperity Bancshares would pass up.

Related Article: Fresh Off IPO, Independent in Texas Hunts for Deals

Old National Bancorp (ONB) Old National Bancorp (ONB) HQ: Evansville, Ind.
Assets: $9.6B
Tangible common equity: 8.96%
Tangible book value: $8.23/share
Closing Price on July 17: $14.31/share

Old National early this year agreed to buy 24 branches in southwest Michigan from Bank of America (BAC), but analysts predict it could cap 2013 with a whole-bank acquisition in Indiana or Michigan.

Related Article: Old National to Buy 24 B of A Branches in Indiana, Michigan

(Image: Thinkstock)

Wintrust Financial (WTFC) Wintrust Financial (WTFC) HQ: Rosemont, Ill.
Assets: $17.6B
Tangible Common Equity: 7.4%
Tangible Book Value: $29.25/share
Closing Price on July 17: $41.03

Chicago's busiest buyer last announced a deal in January, but CEO Ed Wehmer says his team is "very busy right now in this area." The holdup for has been that there is still a lot of stress at many of the targets, he says.

Related Article: Wintrust Raised Fee Income, Lowered Interest Cost in 2Q

These banks have money to spend, strong stocks and a stated goal of expansion through M&A. Look for them to buy a bank this year or early next year. After all, dealmaking takes time.

Comments (0)
Be the first to comment on this post using the section below.
Post a Comment
You must be registered to post a comment.
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.

 

Already a subscriber? Log in here
Please note you must now log in with your email address and password.