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(Dollars in millions)
part 1 of 5
Buyer
1 NationsBank Corp., Charlotte, N.C.
2 Travelers Group, New York
3 Norwest Corp., Minneapolis
4 First Union Corp., Charlotte, N.C.
5 Banc One Corp., Columbus, Ohio
6 NationsBank Corp., Charlotte, N.C.
7 Star Banc Corp., Cincinnati
8 National City Corp., Cleveland
9 Washington Mutual Inc., Seattle
10 Bank One Corp., Columbus, Ohio
11 Regions Financial Corp., Birmingham, Ala.
12 First American Corp., Nashville
13 Union Planters Corp., Memphis
14 California Federal Bank, San Francisco
15 Astoria Financial Corp., Lake Success, N.Y.
16 National City Corp., Cleveland
17 North Fork Bancorp, Melville, N.Y.
18 First Hawaiian Inc., Honolulu
19 M&T Bank Corp., Buffalo
20 Charter One Financial Inc., Cleveland
21 H.F. Ahmanson & Co., Irwindale, Calif.
22 Fifth Third Bancorp, Cincinnati
23 Peoples Heritage Financial, Portland, Ore.
24FCitiFed Bancorp Inc., Dayton Ohio
25 StarBanc Corp., Cincinatti
Totals and averages for the top 25 completed deals
Median for the top 25 completed deals
Weighted average for the top 25 completed deals
Totals and averages for all completed deals
Median for all completed deals
Weighted average for all completed deals
Source: Sheshunoff Information Services Inc., Austin, Tex.
part 2 of 5
Top 25 Bank Mergers Completed
(Dollars in millions)
Completed
Seller Date
1 BankAmerica Corp., San Francisco Sept. 30
2 Citicorp, New York Oct. 7
3 Wells Fargo & Co., San Francisco Nov. 2
4 CoreStates Financial Corp., Philadelphi 27-Apr
5 First Chicago NBD Corp. Oct. 1
6 Barnett Banks Inc., Jacksonville, Fla. Jan. 9
7 Firstar Corp., Milwaukee Nov. 19
8 First of America Bank Corp., Kalamazoo, Mar. 31
9 H.F. Ahmanson & Co., Irwindale, Calif. Oct. 1
10 First Commerce Corp., New Orleans 12-Jun
11 First Commercial Corp., Little Rock, Ar 31-Jul
12 Deposit Guaranty Corp., Jackson, Miss. 30-Apr
13 Magna Group, St. Louis 30-Jun
14 Golden State Bancorp, Glendale, Calif. Sept. 11
15 Long Island Bancorp, Melville, N.Y. Sept. 30
16 Fort Wayne National Corp., Indiana Mar. 30
17 New York Bancorp Mar. 27
18 BancWest Corp., San Francisco Nov. 1
19 Onbancorp, Syracuse, N.Y. Mar. 31
20 Albank Financial Corp., Albany, N.Y. Nov. 30
21 Coast Savings, Newport Beach, Calif. Feb. 13
22 State Savings Co., Columbus, Ohio 19-Jun
23 CFX Corp., Keene, N.H. 10-Apr
24FJan. 14 726.8
25 Great Financial Corp., Louisville, KY Feb. 6
part 3 of 5
Top 25 Bank Mergers Completed
(Dollars in millions) Completed
Announced Completed Price per
Seller Deal Price Deal Price Share
1 BankAmeric $62,029.20 $42,215.10 $60.13
2 Citicorp, 74,313.40 38,197.70 79.38
3 Wells Farg 34,521.60 32,273.30 371.88
4 CoreStates 17,103.80 20,202.40 98.42
5 First Chic 29,807.50 19,092.20 64.7
6 Barnett Ba 15,567.70 14,700.00 70.06
7 Firstar Co 7,228.60 8,106.90 54.25
8 First of A 7,118.00 7,827.30 87.98
9 H.F. Ahman 9,894.40 6,320.30 51.87
10 First Comm 3,050.20 3,464.10 79.46
11 First Comm 2,715.40 2,628.90 68.85
12 Deposit Gu 2,697.00 2,382.40 57.7
13 Magna Grou 2,250.00 2,117.00 56.96
14 Golden Sta 2,700.00 1,800.00 35.57
15 Long Islan 1,764.00 1,232.20 48.44
16 Fort Wayne 847 1,048.50 54.75
17 New York B 833.9 1,036.00 46.04
18 BancWest C 971.3 1,032.80 N/A
19 Onbancorp, 880.4 1,002.90 77.19
20 Albank Fin 1,044.50 963.1 67.33
21 Coast Savi 909 949.2 48.49
22 State Savi 903.2 918.6 153,092
23 CFX Corp., 710.1 843.3 33.39
24FJan. 14 826.9 61.05 3.49
25 Great Fina 656.9 768.2 51.11
Total A Top 25 $281,243.90 $211,949.20
Total A Com Deals $344,314.10 $280,639.60
part 4 of 5
Completed Completed
Price-to Price-to Efficiency Ratio
Book (x) Latest 12 Mo. Qtr before
Seller Net Inc. (x) Close
1 BankAmeric 2.09 12.45 59.02
2 Citicorp, 1.74 10.12 63.96
3 Wells Farg 2.42 24.62 59.11
4 CoreStates 6.14 24.46 54.88
5 First Chic 2.24 11.95 55.3
6 Barnett Ba 3.71 23.5 62.59
7 Firstar Co 4.32 25.76 60.95
8 First of A 4.09 24.36 56.87
9 H.F. Ahman 1.69 13.09 54.07
10 First Comm 3.94 26.74 59.84
11 First Comm 4.13 25.32 59.81
12 Deposit Gu 3.71 25.53 65.06
13 Magna Grou 3.17 23.11 56.47
14 Golden Sta 1.66 17.23 58.85
15 Long Islan 2.03 20.95 51.77
16 Fort Wayne 3.42 27.63 60.45
17 New York B 5.81 19.17 32.22
18 BancWest C 2.51 15.32 55.68
19 Onbancorp, 3.02 19.82 57.54
20 Albank Fin 10.43 81.99 62.8
21 Coast Savi 1.85 16.46 60.43
22 State Savi 3.44 28.84 52.39
23 CFX Corp., 3.33 43.21 67.17
24FJan. 14 26.81 68.51 68.51
25 Great Fina 2.16 27.79 70.96
Total 3.56 25.25 58.87
Median 3.42 24.46 59.46
Weight 2.9 18.28 59.3
Total 2.47 23.56 66.79
Median 2.25 20.6 59.46
Weight 2.88 19.05 59.45
part 5 of 5
Top 25 Bank Mergers Completed Seller's Last 12 months
(Dollars in millions)
Qtr before
Seller Announcement
1 BankAmerica Corp., San Franc 58.83
2 Citicorp, New York 62.77
3 Wells Fargo & Co., San Franc 61.99
4 CoreStates Financial Corp., 55.44
5 First Chicago NBD Corp. 54.92
6 Barnett Banks Inc., Jacksonv 60.16
7 Firstar Corp., Milwaukee 60.5
8 First of America Bank Corp., 60.73
9 H.F. Ahmanson & Co., Irwinda 53.52
10 First Commerce Corp., New Or 58.34
11 First Commercial Corp., Litt 60.65
12 Deposit Guaranty Corp., Jack 66.12
13 Magna Group, St. Louis 56.1
14 Golden State Bancorp, Glenda 57.5
15 Long Island Bancorp, Melvill N/A
16 Fort Wayne National Corp., I 60.45
17 New York Bancorp 32.22
18 BancWest Corp., San Francisc 55.67
19 Onbancorp, Syracuse, N.Y. 57.54
20 Albank Financial Corp., Alba 55.95
21 Coast Savings, Newport Beach 59.05
22 State Savings Co., Columbus, 52.39
23 CFX Corp., Keene, N.H. 63.38
24FJan. 14
25 Great Financial Corp., Louis 70.96
Total 58.7
Median 59.05
Weight 59.63
Total 65.37
Median 59.05
Weight 59.34