Bank and Thrift Deals Completed in 2Q 2003
July 17, 2003, 10:08 a.m. EDT 1 Min Read
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Bank and Thrift Deals Completed in 2Q 2003
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Published July 17, 2003 | ||||||||||
Date | Price | Price at completion to: | Seller's: | |||||||
Buyer | Seller | Announced | Completed | Announced | Completed | Equity | 12-month net | Branches | Assets | |
1 | Seacoast Financial Services Corp. New Bedford, Mass. | Bay State Bancorp Inc. Brookline, Mass. | 12/19/02 | 31-May | $126,010 | $132,075 | 2.24 | 17.1 | 6 | $563,478 |
2 | SunTrust Banks Inc. Atlanta | Lighthouse Financial Services Hilton Head Island, S.C. | 1/22/03 | 2-Jun | 129,683 | 130,188 | 3.61 | 14.98 | 5 | 625,234 |
3 | Main Street Banks Inc. Kennesaw, Ga. | First Colony Bancshares Inc. Alpharetta, Ga. | 12/11/02 | 22-May | 95,960 | 101,400 | 3.68 | 25.3 | 3 | 313,894 |
4 | UnionBanCal Corp. San Francisco | Monterey Bay Bancorp Inc. Watsonville,Calif. | 4/8/03 | 30-Jun | 96,500 | 95,895 | 1.55 | 14.42 | 8 | 625,803 |
5 | Interchange Financial Services Corp. Saddle Brook, N.J. | Bridge View Bancorp Englewood Cliffs, N.J. | 11/18/02 | 30-Apr | 87,331 | 86,181 | 2.79 | 25.17 | 11 | 272,506 |
6 | Sky Financial Group Inc. Bowling Green, Ohio | Metropolitan Financial Corp. Highland Hills, Ohio | 10/24/02 | 30-Apr | 78,645 | 85,622 | 1.54 | NA | 24 | 1,496,838 |
7 | Kearny Financial Corp. N.J. | West Essex Bancorp Inc. Caldwell, N.J. | 9/11/02 | 30-Jun | 72,160 | 72,501 | 3.31 | 57.7 | 9 | 390,333 |
8 | Security Bank Corp. Macon, Ga. | Bank of Gray Ga. | 10/25/02 | 29-May | 43,278 | 63,701 | 2.75 | 21.14 | 1 | 225,613 |
9 | Bridgeview Bancorp Inc. Ill. | Upbancorp Inc. Chicago | 2/18/03 | 12-Jun | 56,700 | 56,700 | 1.63 | 12.28 | 11 | 407,120 |
10 | Wayne Bancorp Inc. Wooster, Ohio | Banc Services Corp. Orrville, Ohio | 12/10/02 | 31-May | 46,244 | 53,390 | 2.79 | 18.21 | 7 | 211,847 |
11 | Standard Bancshares Inc. Evergreen Park, Ill. | Security Financial Bancorp Inc. St. John, Ind. | 2/7/03 | 19-Jun | 45,953 | 45,953 | 1.26 | NA | 6 | 198,756 |
12 | United Community Banks Inc. Blairsville, Ga. | First Georgia Holding Inc. Brunswick | 1/23/03 | 1-May | 42,119 | 42,825 | 2.09 | 35.02 | 6 | 258,044 |
13 | TriCo Bancshares Chico, Calif. | North State National Bank Chico, Calif. | 10/7/02 | 4-Apr | 31,808 | 33,200 | 2.25 | 15.57 | 3 | 140,686 |
14 | Arvest Bank Group Inc. Bentonville, Ark. | Mountain Bancshares Inc. Yellville, Ark. | 2/27/03 | 24-Apr | 30,500 | 30,500 | 1.87 | 12.24 | 5 | 212,143 |
15 | Peoples Bancorp Inc. Marietta, Ohio | Kentucky Bancshares Inc. Russell | 12/2/02 | 9-May | 30,468 | 29,943 | 1.8 | 27.42 | 5 | 127,184 |
16 | Univest Corp. of Pennsylvania Souderton | First County Bank Doylestown, Pa. | 1/10/03 | 16-May | 29,431 | 29,431 | 2.26 | 33.63 | 5 | 138,653 |
17 | Standard Bancshares Inc. Evergreen Park, Ill. | East Side Bancorp. Chicago | 12/20/02 | 14-Apr | 27,500 | 27,500 | 1.28 | 75.55 | 7 | 255,361 |
18 | Alabama National BanCorp Birmingham | Millennium Bank Gainesville, Fla. | 1/29/03 | 19-Jun | 23,600 | 26,218 | 2.91 | 32.01 | 3 | 98,792 |
19 | Dickinson Financial Corp. Kansas City, Mo. | Founders Bancshares Inc. Chesterfield, Mo. | 3/28/03 | 13-Jun | 26,000 | 26,000 | 2.93 | 27.25 | 3 | 122,504 |
20 | First Community Bancshares Inc. Bluefield, Va. | CommonWealth Bank Richmond | 1/27/03 | 9-Jun | 24,767 | 25,877 | 2.77 | 24.84 | 4 | 134,136 |
21 | SouthTrust Corp. Birmingham, Ala. | Founders Bancshares Inc. Dallas | 12/5/02 | 4-Apr | 23,756 | 23,200 | 2.23 | 20.07 | 2 | 115,017 |
22 | MainSource Financial Group Inc. Greensburg, Ind. | First Community Bancshares Inc. Bargersville, Ind. | 11/20/02 | 12-Jun | 22,336 | 22,336 | 2.05 | 43.62 | 10 | 147,205 |
23 | Liberty Bancshares Inc. Jonesboro, Ark. | MSB Shares Inc. Jonesboro, Ark. | 3/11/03 | 2-Jun | 21,356 | 21,356 | 0.97 | NA | 9 | 323,554 |
24 | MountainBank Financial Corp. Hendersonville, N.C. | CNB Holdings Inc. Pulaski, Va. | 6/21/02 | 23-May | 13,942 | 16,306 | 1.88 | 36 | 2 | 55,583 |
25 | Prosperity Bancshares Inc. Houston | Abrams Centre National Bank Dallas | 2/3/03 | 6-May | 16,300 | 16,300 | 1.17 | 12.17 | 2 | 93,622 |
26 | Classic Bancshares Inc. Ashland, Ky. | First Federal Financial Bancorp Inc. Ironton, Ohio | 12/30/02 | 20-Jun | 11,635 | 13,103 | 1.35 | 28.79 | 3 | 68,967 |
27 | SNB Inc. Baton Rouge, La. | Algiers Bancorp Inc. New Orleans | 12/13/02 | 30-May | 7,900 | 7,900 | 1.22 | NA | 2 | 52,575 |
28 | Bank of the Ozarks Inc. Little Rock | RVB Bancshares Inc. Russellville, Ark. | 3/11/03 | 13-Jun | 7,090 | 7,840 | 1.93 | 15.3 | 1 | 53,884 |
29 | Sun Bancorp Inc. Lewisburg, Pa. | Steelton Bancorp Inc. Steelton, Pa. | 12/20/02 | 24-Apr | 7,200 | 7,200 | 1.16 | 49.76 | 2 | 56,743 |
30 | Prosperity Bancshares Inc. Houston | Dallas Bancshares Corp. | 3/5/03 | 2-Jun | 7,000 | 7,000 | 1.62 | 40.46 | 1 | 40,929 |
31 | Community Bancshares of Mississippi Inc. Brandon | First Lucedale Bancorp Inc. Miss. | 3/6/03 | 4-May | 5,000 | 5,000 | 0.85 | 3.82 | 3 | 81,128 |
32 | Reliance Bancshares Inc. Des Peres, Mo. | Bank of Godfrey Ill. | 10/25/02 | 30-May | 3,700 | 3,700 | 1.42 | 92.5 | 1 | 26,575 |
33 | Pocahontas Bancorp Inc. Jonesboro, Ark. | Marked Tree Bancshares Inc. Ark. | 10/9/02 | 30-Apr | 2,994 | 3,270 | 1.02 | 5.63 | 1 | 30,373 |
34 | Worldwide Financial Investors Inc. Marietta, Ga. | Metro Savings Bank Orlando | 4/12/02 | 18-Jun | 1,667 | 1,667 | 3.88 | NA | 1 | 8,620 |
35 | Advance Bank Baltimore | Berean Bank Philadelphia | 2/4/03 | 6-Jun | NA | NA | NA | NA | 2 | 51,012 |
36 | American State Bancshares Inc. Great Bend, Kan. | FAM Financial Inc. Macksville, Kan. | 3/15/03 | 30-Jun | NA | NA | NA | NA | 1 | 31,854 |
37 | Denison Bancshares Inc. Holton, Kan. | Countryside Square Bancshares Meriden, Kan. | 6/12/03 | 12-Jun | NA | NA | NA | NA | 1 | 39,745 |
38 | First Citizens Bancorp of South Carolina Columbia | First Banks Inc. Carnesville, Ga. | 9/17/02 | 1-Apr | NA | NA | NA | NA | 5 | 240,397 |
39 | Franklin Bank Corp. Austin | Highland Lakes Bancshares Corp. Kingsland, Tex. | 2/18/03 | 30-Apr | NA | NA | NA | NA | 1 | 77,088 |
40 | Liberty Bancshares Inc. Arnolds Park, Iowa | Hancock County Bank and Trust Garner, Iowa | 9/30/02 | 3-Apr | NA | NA | NA | NA | 2 | 118,280 |
Source: Sheshunoff Information Services, a division of Thomson Corp.
© 2003 American Banker