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Completed in 1st Quarter '97
Listed in order of deal value
part 1 of 3
Rank Buyer Seller
1 Norwest Corporation, MN Central Bancorporation Inc, TX
2 UST Corp, NY Walden Bancorp, Inc., MA
3 Summit Bancorp, NJ B.M.J. Financial Corp., NJ
4 Regions Financial Corp, AL Allied Bankshares, Inc., GA
5 Webster Financial Corp., CT DS Bancor, Inc., CT
6 Huntington Bancshares Inc. , OCiti-Bancshares, Inc., FL
7 Valley National Bancorp, PA Midland Bancorporation, NJ
8 Commerce Bancorp, Inc., NJ Independence Bancorp, Inc., NJ
9 Colonial BancGroup Inc., AL Jefferson Bancorp, Inc., FL
10 Hinsdale Financial Corp., IL (Liberty Bancorp, Inc., IL (2)
11 Sovereign Bancorp, Inc., PA First State Financial Serv., NJ
12 Fulton Financial Corporation, Woodstown NB&TC, NJ
13 FNB Corporation, PA Southwest Banks, Inc., FL
14 Deposit Guaranty Corporation, Jefferson Guaranty Bk, LA
15 First Commercial Corporation, W. B. T. Holding Company, TN
part 2 of 3
Buyers'Cmm Buyers Total of
Shares Cmn. Share Pro Forma
Outstandingto be issuCmn. Shares
Rank Buyer 12/96 ($ mi($ million ($ million)
1 Norwest Corporation, MN 373.64 4.655 378.295
2 UST Corp, NY 203.572 10.126 213.698
3 Summit Bancorp, NJ 271.31 4.204 275.514
4 Regions Financial Corp, A 62.58 2.9 65.48
5 Webster Financial Corp., 3.546 3.626 7.172
6 Huntington Bancshares Inc 141.51 4.048 4.472
7 Valley National Bancorp, 36.684 3.834 40.518
8 Commerce Bancorp, Inc., N 12.04 2.985 15.025
9 Colonial BancGroup Inc., 16.293 1.927 18.22
10 Hinsdale Financial Corp., N/A N/A N/A
11 Sovereign Bancorp, Inc., 52.771 4.903 57.674
12 Fulton Financial Corporat 32.97 2.88 35.85
13 FNB Corporation, PA 9.047 2.851 11.898
14 Deposit Guaranty Corporat 38.927 1.568 40.495
15 First Commercial Corporat 28.548 1.362 29.91
part 3 of 3
Buyer: Seller Deal
EPS P/E rati EPS Value Effect of
Rank Buyer 1996 -2 1996 P/E rati Trans.
1 Norwest Corporat 3.07 15.105 1.96 42.07 Dilutive
2 UST Corp, NY 1.8 18.263 1.09 35.51 Dilutive
3 Summit Bancorp, 2.44 19.595 0.58 45.9 Dilutive
4 Regions Financia 3.7 15 0.19 66.57 Dilutive
5 Webster Financia 2.96 12.753 2.29 18.82 Dilutive
6 Huntington Bancs 1.8 14.583 1.73 10.03 Accretive
7 Valley National 1.84 14.809 17.4 46.987 Dilutive
8 Commerce Bancorp 2.11 14.277 0.98 30.29 Dilutive
9 Colonial BancGro 1.62 12.114 0.38 52.45 Dilutive
10 Hinsdale Financi N/A N/A N/A N/A N/A
11 Sovereign Bancor 0.72 17.507 1 5.99 Accretive
12 Fulton Financial 1.58 15.823 1.12 35.57 Dilutive
13 FNB Corporation, 1.99 11.935 0.47 45.8 Dilutive
14 Deposit Guaranty 2.16 14.352 4.16 24.61 Dilutive
15 First Commercial 3.02 14.114 1841 28.48 Dilutive
