Bank and Thrift Deals Completed in the First Quarter of 2004
Published April 14, 2004, 10:08 a.m. EDT
|
Updated January 02, 1970, 9:08 a.m. EST
1 Min Read
View Table
Printer Friendly Version
Bank and Thrift Deals Completed in the First Quarter of 2004
| | ||||||||||
| Published April 14, 2004 | ||||||||||
| Related Table: Deals with highest announced price to equity/price to net income | ||||||||||
| Rank | Buyer | Seller | Date | Price | Price at completion to: | Seller's | ||||
| Announced | Completed | Announced | Completed | Equity | 12-month net | Branches | Assets | |||
| 1 | PNC Financial Services Group Pittsburgh | United National Bancorp Bridgewater, N.J. | 08/21/03 | 01/01/04 | $649,121 | $692,733 | 2.59% | 26.16% | 52 | $3,149,528 |
| 2 | Sovereign Bancorp Inc. Philadelphia | First Essex Bancorp Inc. Andover, Mass. | 06/13/03 | 02/06/04 | 400,369 | 490,309 | 2.96 | 22.32 | 20 | 1,746,085 |
| 3 | First Niagara Financial Group Inc. Lockport, N.Y. | Troy Financial Corp. N.Y. | 08/11/03 | 01/16/04 | 354,941 | 356,026 | 2.14 | 25.88 | 23 | 1,365,456 |
| 4 | FleetBoston Financial Corp. | Progress Financial Corp. Blue Bell, Pa. | 08/28/03 | 01/30/04 | 205,607 | 235,755 | 3.52 | 31.27 | 21 | 1,178,550 |
| 5 | Texas Regional Bancshares McAllen | Southeast Texas Bancshares Inc. Beaumont | 09/15/03 | 03/12/04 | 226,469 | 234,732 | 2.04 | 19.77 | 28 | 1,103,691 |
| 6 | Sterling Financial Corp. Spokane | Klamath First Bancorp Inc. Klamath Falls, Ore. | 07/15/03 | 01/02/04 | 147,293 | 186,117 | 1.48 | 74.16 | 51 | 1,537,118 |
| 7 | Citizens Financial Group Inc. Providence, R.I. | Thistle Group Holdings Co. Philadelphia | 09/22/03 | 01/05/04 | 147,813 | 147,314 | 1.81 | 31.78 | 12 | 850,253 |
| 8 | Pacific Capital Bancorp Santa Barbara, Calif. | Pacific Crest Capital Inc. Agoura Hills, Calif. | 10/16/03 | 03/05/04 | 135,941 | 135,941 | 2.74 | 15.27 | 5 | 592,278 |
| 9 | UnionBanCal Corp. San Francisco | Business Bancorp San Bernardino, Calif. | 09/26/03 | 01/15/04 | 130,309 | 133,311 | 1.98 | 18.24 | 15 | 676,285 |
| 10 | Alabama National BanCorp. Birmingham | Indian River Banking Co. Vero Beach, Fla. | 10/22/03 | 02/27/04 | 109,307 | 109,783 | 2.88 | 20.93 | 9 | 518,796 |
| 11 | TowneBank Portsmouth, Va. | Harbor Bank Newport News, Va. | 10/23/03 | 03/22/04 | 84,277 | 98,492 | 3.58 | 39.97 | 7 | 271,944 |
| 12 | Humboldt Bancorp Roseville, Calif. | California Independent Bancorp Yuba City | 08/12/03 | 01/06/04 | 83,805 | 88,441 | 2.93 | 19.91 | 11 | 375,901 |
| 13 | Southern Community Financial Corp. Winston-Salem, N.C. | Community Bank Pilot Mountain, N.C. | 07/30/03 | 01/09/04 | 78,100 | 87,510 | 3.28 | 20.88 | 10 | 248,314 |
| 14 | Provident Bancorp Inc. Montebello, N.Y. | E.N.B. Holding Co. Inc. Ellenville, N.Y. | 07/02/03 | 01/14/04 | 73,546 | 76,467 | 2.60 | 22.29 | 9 | 357,399 |
| 15 | Synovus Financial Corp Columbus, Ga. | Peoples Florida Banking Corp. Palm Harbor | 10/07/03 | 01/30/04 | 70,730 | 68,418 | 3.80 | 22.00 | 4 | 249,983 |
| 16 | NBC Capital Corp. Starkville, Miss. | Enterprise Bancshares Inc. Memphis | 12/11/03 | 03/31/04 | 53,131 | 53,131 | 2.40 | 43.34 | 4 | 292,370 |
| 17 | Southwest Bancorp. of Texas Houston | Reunion Bancshares Inc. Dallas | 10/27/03 | 01/30/04 | 50,000 | 50,000 | 2.91 | 29.19 | 6 | 216,106 |
| 18 | Southern Financial Bancorp Inc. Warrenton, Va. | Essex Bancorp Inc. Norfolk, Va. | 07/24/03 | 02/27/04 | 28,633 | 45,958 | 2.35 | 14.44 | 5 | 389,753 |
| 19 | First Community Bancshares Inc. Bluefield, Va. | PCB Bancorp Inc. Johnson City, Tenn. | 12/31/03 | 03/31/04 | 36,531 | 36,531 | 2.60 | 19.52 | 5 | 172,283 |
| 20 | Yadkin Valley Bank and Trust Co. Elkin, N.C. | High Country Financial Corp. Boone, N.C. | 05/28/03 | 01/01/04 | 36,684 | 35,104 | 2.01 | 26.93 | 5 | 182,434 |
| 21 | Bank of Montreal Toronto | Lakeland Financial Corp. Round Lake Heights, Ill. | 11/24/03 | 03/01/04 | 34,600 | 34,600 | 2.46 | 8.17 | 2 | 169,760 |
| 22 | Boston Private Financial Holdings Boston | First State Bancorp Granada Hills, Calif. | 07/10/03 | 02/17/04 | 26,757 | 30,728 | 2.17 | NM | 2 | 187,807 |
| 23 | Citizens First Bancorp Inc. Port Huron, Mich. | Metro Bancorp Inc. Farmington Hills, Mich. | 05/22/03 | 01/09/04 | 30,000 | 30,000 | 1.80 | 22.99 | 4 | 152,095 |
| 24 | Capital City Bank Group Inc. Tallahassee, Fla. | Quincy State Bank Fla. | 01/08/04 | 03/19/04 | 28,100 | 28,100 | 2.51 | 10.58 | 2 | 119,221 |
| 25 | Alabama National BanCorp. Birmingham | Cypress Bankshares Inc. Palm Coast, Fla. | 10/15/03 | 02/20/04 | 26,671 | 27,179 | 2.90 | 31.30 | 2 | 110,347 |
| 26 | PremierWest Bancorp Medford, Ore. | Mid Valley Bank Red Bluff, Calif. | 09/16/03 | 01/23/04 | 25,662 | 27,092 | 2.12 | 21.58 | 5 | 180,465 |
| 27 | Simmons First National Corp. Pine Bluff, Ark. | Alliance Bancorp. Inc. Hot Springs, Ark. | 10/08/03 | 03/22/04 | 25,474 | 25,615 | 2.29 | 17.23 | 5 | 135,620 |
| 28 | Northern States Financial Corp. Waukegan, Ill. | Round Lake Bankcorp Inc. Ill. | 09/11/03 | 01/05/04 | 19,800 | 19,800 | 2.06 | 27.27 | 2 | 111,727 |
| 29 | South Shore Savings Bank Weymouth, Mass. | Horizon Bank and Trust Co. Braintree, Mass. | 07/21/03 | 02/19/04 | 19,561 | 19,561 | 1.43 | 17.70 | 1 | 126,958 |
| 30 | IberiaBank Corp. New Iberia, La. | Alliance Bank of Baton Rouge La. | 11/17/03 | 02/29/04 | 15,472 | 18,074 | 1.85 | 35.81 | 1 | 76,032 |
| 31 | Pacific Financial Corp. Aberdeen, Wash. | BNW Bancorp Inc. Bellingham, Wash. | 10/22/03 | 02/27/04 | 17,658 | 17,658 | 2.40 | 23.40 | 5 | 97,892 |
| 32 | Liberty Bancshares Inc. Arnolds Park, Iowa | StateFed Financial Corp. Des Moines | 11/18/03 | 03/11/04 | 17,648 | 17,648 | 1.27 | NM | 3 | 94,692 |
| 33 | Community Capital Corp. Greenwood, S.C. | Abbeville Capital Corp S.C. | 08/19/03 | 03/04/04 | 15,000 | 15,736 | 2.11 | 17.47 | 1 | 69,795 |
| 34 | Community Bancshares of Mississippi Inc. Brandon | Security Bancshares Inc. Amory, Miss. | 11/14/03 | 02/28/04 | 15,000 | 15,000 | 1.41 | 16.38 | 5 | 146,170 |
| 35 | Fentura Financial Inc. Fenton, Mich. | West Michigan Financial Corp. Hudsonville | 10/15/03 | 03/15/04 | 13,250 | 12,923 | 2.46 | 50.50 | 3 | 123,758 |
| 36 | North American Bancshares Sherman, Tex. | Pioneer Bankshares Inc. Fredericksburg, Tex. | 07/24/03 | 01/01/04 | 12,697 | 12,697 | 2.61 | NM | 2 | 75,213 |
| 37 | Cascade Bancorp Bend, Ore. | Community Bank of Grants Pass Ore. | 07/31/03 | 01/01/04 | 11,900 | 12,640 | 2.23 | 21.26 | 1 | 49,059 |
| 38 | America Bancshares Inc. Newport, Minn. | PriVest Bank Santa Ana, Calif. | 09/18/03 | 01/08/04 | 10,900 | 10,900 | 1.91 | 20.79 | 2 | 83,917 |
| 39 | Capitol Bancorp Ltd. Lansing, Mich. | First Carolina State Bank Rocky Mount, N.C. | 12/01/03 | 03/31/04 | 10,743 | 10,743 | 1.74 | 38.92 | 1 | 62,304 |
| 40 | Southwest Georgia Financial Corp. Moultrie | First Bank Holding Co. Sylvester, Ga. | 11/24/03 | 02/27/04 | 9,756 | 9,720 | 1.30 | 25.15 | 1 | 45,087 |
| 41 | Liberty Bancshares Inc. Jonesboro, Ark. | Spring Rivers Bancshares Inc. Imboden, Ark. | 11/18/03 | 03/19/04 | 8,119 | 8,119 | 1.48 | NM | 3 | 82,002 |
| 42 | Franklin Bank Corp. Houston, Tex. | Lost Pines Bancshares Inc. Smithville, Tex. | 11/13/03 | 03/01/04 | 6,900 | 6,900 | 1.64 | 17.65 | 2 | 40,514 |
| 43 | ColoEast Bankshares Lamar, Colo. | First National Bank of Tribune Kan. | 10/08/03 | 02/06/04 | 4,600 | 4,600 | 1.37 | 52.27 | 1 | 36,677 |
| 44 | Pine River Bank Corp. Bayfield, Colo. | First National Bank of Lake City Colo. | 01/14/04 | 03/04/04 | 2,600 | 2,600 | 1.00 | 22.03 | 2 | 32,783 |
| 45 | Van Orin Bancorp Inc. Ill. | Malden Bancorp Inc. Ill. | 09/16/03 | 03/01/04 | 2,500 | 2,500 | 1.42 | 13.97 | 1 | 13,101 |
| 46 | Treaty Oak Holdings Inc. Austin, Tex. | Texline State Bank Tex. | 05/16/03 | 03/10/04 | 2,200 | 2,225 | 2.03 | NM | 1 | 11,539 |
| 47 | MSB Capital Corp. Columbus, Ohio | First State Bank West Manchester, Ohio | 11/24/03 | 02/13/04 | 684 | 684 | 0.50 | NM | 1 | 15,886 |
| 48 | First Data Corp. Greenwood Village, Colo. | Concord EFS Inc. Memphis | 04/02/03 | 02/26/04 | NA | NA | NA | NA | 3 | 2,423,279 |
| 49 | Ridgefield Bank Ridgefield, Conn. | Fairfield County Savings Bank Norwalk, Conn. | 08/06/03 | 01/01/04 | NA | NA | NA | NA | 7 | 374,416 |
| 50 | First Security Bancorp Searcy, Ark. | First National Bank of Springdale Ark. | 10/08/03 | 01/02/04 | NA | NA | NA | NA | 5 | 344,428 |
| 51 | Marathon Banking Corp. New York | Interbank of New York New York | 09/17/03 | 01/23/04 | NA | NA | NA | NA | 4 | 281,967 |
| 52 | Sulphur Springs Bancshares Tex. | Hawkins Financial Corp. Tex. | 12/19/03 | 02/27/04 | NA | NA | NA | NA | 3 | 38,885 |
| 53 | Centrue Financial Corp. Kankakee, Ill. | Parish Bank and Trust Co. Momence, Ill. | 10/29/03 | 03/12/04 | NA | NA | NA | NA | 2 | 20,374 |
| 54 | Tremont Bancorp Inc. Ill. | Hopedale Investment Co. Hopedale, Ill. | 12/24/03 | 03/12/04 | NA | NA | NA | NA | 1 | 13,950 |
| 55 | Fidelity Financial Corp. Wichita | Bridgeview Bank, N.A. Oklahoma City | 01/14/04 | 01/14/04 | NA | NA | NA | NA | 1 | NA |
Source: Sheshunoff Information Services, a division of Thomson Corp.
© 2004 American Banker