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Bank and Thrift Deals Completed in 2Q 2003

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Bank and Thrift Deals Completed in 2Q 2003

Bank and Thrift Deals Completed in 2Q 2003
Ranked by price at completion. Dollars in thousands
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

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