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Bank and Thrift Deals Completed in the Fourth Quarter of 2003

January 14, 2004, 10:08 a.m. EST 1 Min Read
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Bank and Thrift Deals Completed in the Fourth Quarter of 2003

Bank and Thrift Deals Completed in the Fourth Quarter of 2003
Ranked by price at completion. Dollars in thousands
Published January 14, 2004
      Date Price Price at completion to: Seller's
  Buyer Seller Announced Completed Announced Completed Equity 12-month net Branches Assets
1 New York Community Bancorp Inc. Westbury Roslyn Bancorp Jericho, N.Y. 6/27 10/31 $1,614,084 $2,168,083 3.83% 13.80% 35 $10,809,449
2 Wells Fargo & Co. San Francisco Pacific Northwest Bancorp Seattle 5/19 10/31 624,911 706,171 2.45 22.46 57 3,084,190
3 PNC Financial Services Group Pittsburgh United National Bancorp Bridgewater, N.J. 8/21 12/31 649,121 692,733 2.59 26.16 52 3,149,528
4 Cathay Bancorp Inc. Los Angeles GBC Bancorp Los Angeles 5/7 10/20 453,097 484,423 2.21 NM 21 2,406,685
5 MAF Bancorp Inc. Clarendon Hills, Ill. St. Francis Capital Corp. Brookfield, Wis. 5/21 12/1 263,623 357,707 1.72 13.45 23 2,254,341
6 Sterling Financial Corp. Spokane Klamath First Bancorp Inc. Klamath Falls, Ore. 7/15 12/31 147,293 186,117 1.48 74.16 51 1,537,118
7 South Financial Group Inc. Greenville, S.C. MountainBank Financial Corp. Hendersonville, N.C. 5/14 10/3 139,732 151,956 2.22 19.61 17 959,116
8 Keystone Savings Bank Bethlehem, Pa. First Colonial Group Inc. Nazareth, Pa. 3/6 10/31 85,446 148,753 3.32 33.25 17 642,244
9 United Bankshares Inc. Charleston, W.Va. Sequoia Bancshares Inc. Bethesda, Md. 4/7 10/10 111,008 119,269 3.69 17.96 12 539,617
10 Citizens Financial Group Inc. Providence, R.I. Community Bancorp Inc. Hudson, Mass. 7/30 10/31 116,906 117,566 2.84 20.91 11 457,270
11 First Midwest Bancorp Inc. Itasca, Ill. CoVest Bancshares Inc. Des Plaines, Ill. 9/11 12/31 102,441 102,372 1.84 14.56 3 609,137
12 FirstBank North West Corp. Lewiston, Idaho Oregon Trail Financial Corp. Baker City 2/24 10/31 73,151 85,522 1.31 15.73 9 370,149
13 Community Bank System Inc. De Witt, N.Y. Grange National Banc Corp. Tunkhannock, Pa. 6/9 11/24 80,138 83,976 2.83 18.82 13 284,983
14 First Federal Capital Corp. La Crosse, Wis. Liberty Bancshares Inc. St. Paul 4/10 10/13 76,359 80,500 2.05 16.02 1 402,933
15 BancTrust Financial Group Inc. Mobile, Ala. CommerceSouth Inc. Eufaula, Ala. 5/28 12/30 77,102 77,718 2.28 19.54 11 317,792
16 Franklin Bank Corp. Houston Jacksonville Bancorp Inc. Tex. 8/12 12/30 73,664 72,736 1.55 10.74 10 471,747
17 1867 Western Financial Corp. Stockton, Calif. Central Valley Bancorp Modesto, Calif. 6/19 11/17 66,804 66,804 2.28 17.21 4 304,598
18 Chemical Financial Corp. Midland, Mich. Caledonia Financial Corp. Mich. 9/25 12/1 55,300 55,300 3.01 15.98 4 209,863
19 Home Bancshares Inc. Conway, Ark. Russellville Bancshares Inc. Jonesboro, Ark. 12/23 12/23 54,000 54,000 1.41 10.45 4 399,347
20 Banknorth Group Inc. Portland, Maine First and Ocean BanCorp Newburyport, Mass. 9/3 12/31 50,989 50,989 2.38 20.84 8 273,861
21 Prosperity Bancshares Inc. Houston MainBancorp Inc. Austin 7/21 10/31 40,640 43,750 1.91 43.58 5 195,845
22 Home Bancshares Inc. Conway, Ark. Community Financial Group Inc. Cabot, Ark. 8/5 11/30 43,000 43,000 1.53 47.6 9 311,560
23 Sky Financial Group Inc. Bowling Green, Ohio GLB Bancorp Inc. Mentor, Ohio 7/16 10/19 39,878 42,665 1.4 29.53 13 206,713
24 Colonial BancGroup Inc. Montgomery, Ala. Sarasota BanCorp. Inc. Fla. 6/26 10/23 39,854 40,200 2.9 18.44 1 168,269
25 National Penn Bancshares Inc. Boyertown, Pa. HomeTowne Heritage Bank Lancaster, Pa. 5/1 12/12 37,601 37,601 2.61 47.66 2 144,119
26 Merchants and Manufacturers Bancorp Brookfield, Wis. Reedsburg Bancorp. Inc. Wis. 4/24 11/1 36,000 36,255 2.04 16.15 4 142,925
27 Webster Financial Corp. Waterbury, Conn. North American Bank and Trust Co. Waterbury, Conn. 6/5 11/7 29,900 32,823 2.15 28.75 11 197,646
28 Adam Corp. Group Bryan, Tex. Beltline Bancshares Inc. Dallas 8/27 12/15 30,600 30,600 2.24 NM 6 187,352
29 First Commonwealth Financial Corp. Indiana, Pa. Pittsburgh Financial Corp. Wexford, Pa. 8/8 12/5 30,783 30,346 1.23 43.34 7 376,450
30 Greene County Bancshares Inc. Greeneville, Tenn. Independent Bankshares Corp. Gallatin, Tenn. 6/18 11/21 30,110 28,423 1.81 19.81 7 172,842
31 LandAmerica Financial Group Inc. Richmond Orange County Bancorp Fountain Valley, Calif. 4/25 12/1 27,600 27,600 1.19 5.77 1 255,773
32 Univest Corp. of Pennsylvania Souderton, Pa. Suburban Community Bank Feasterville, Pa. 5/16 10/3 24,135 24,135 2.12 27.6 2 91,131
33 Mid-State Bancshares Arroyo Grande, Calif. Ojai Valley Bank Ojai, Calif. 6/30 10/31 20,245 23,691 3.03 23.43 2 88,397
34 Western Sierra Bancorp Cameron Park, Calif. Auburn Community Bancorp Calif. 8/21 12/12 18,973 23,212 2.81 18.33 3 89,772
35 Kentucky Bancshares Inc. Paris Kentucky First Bancorp Inc. Cynthiana 7/8 11/7 22,239 22,239 1.55 23.53 2 74,515
36 Prosperity Bancshares Inc. Houston First State Bank of North Texas Cedar Hill 10/6 12/9 21,413 21,264 2.18 7.98 4 93,792
37 Centrue Financial Corp. Kankakee, Ill. Aviston Financial Corp. Trenton, Ill. 5/28 10/9 13,495 18,729 1.72 49.47 2 98,273
38 BancFirst Corp. Oklahoma City Lincoln National Bancorp. Oklahoma City 7/30 10/14 17,762 17,762 1.69 NM 4 117,082
39 Sterling Bancshares Inc. Houston South Texas Capital Group Inc. San Antonio 8/19 10/31 17,511 17,438 3.09 11.86 3 82,821
40 Great River Holding Co. Morris, Minn. First Federal Holding Co. Morris, Minn. 6/11 11/18 14,000 14,000 1.75 14.48 3 77,913
41 State Financial Services Corp. Milwaukee Lakes Region Bancorp Inc. Grayslake, Ill. 6/20 12/8 13,500 13,500 2.12 19.26 2 83,032
42 Northwest Financial Corp. Spencer, Iowa First Heartland Bancorp Sioux Center, Iowa 8/29 11/10 11,850 11,850 1.51 13.99 1 87,037
43 Heritage Oaks Bancorp Paso Robles, Calif. Hacienda Bank Santa Maria, Calif. 6/11 10/31 10,691 11,706 1.88 28.78 3 79,936
44 Carlinville National Bank Shares Ill. Cornerstone Bank and Trust Carrollton, Ill. 3/17 10/17 11,300 11,300 1.64 14.73 3 93,964
45 Southwest Security Inc. Natchez, Miss. Commercial Bank Woodville, Miss. 8/7 10/31 11,172 11,172 1.28 16.88 3 60,173
46 Wintrust Financial Corp. Lake Forest, Ill. Village Bancorp Inc. Arlington Hights, Ill. 8/7 12/5 9,000 10,910 2.17 22.3 2 73,959
47 Bunker Hill Bancorp Inc. St. Louis NS&L Bancorp Inc. Neosho, Mo. 5/23 10/9 10,600 10,600 1.47 34.98 1 67,341
48 Blue River Bancshares Inc. Shelbyville, Ind. Unified Banking Co. Lexington, Ky. 6/9 11/19 8,200 8,200 1.16 38.32 1 80,631
49 Tradition Bank * Houston First National Bank of Bellaire * Houston 7/18 10/2 8,087 8,087 1.15 12.58 1 82,949
50 Farmers and Merchants Bancshares * Houston Houston Commercial Bank * 6/19 10/31 8,021 8,021 1.49 41.56 1 37,100
51 First Fontanelle Bancorp Inc. Iowa Corn Belt Bancorp. Anita, Iowa 7/15 10/17 7,725 7,725 1.56 13.77 3 47,735
52 State Financial Services Corp. Milwaukee Hawthorn Corp. Mundelein, Ill. 9/15 12/8 6,400 6,400 2.71 NM 1 45,505
53 Red River Bancshares Inc. Alexandria, La. Bank of Lecompte La. 6/5 10/31 5,884 5,931 1.05 24.21 3 42,921
54 Premier Bancshares Inc. Dallas Synergy Bank Waco, Tex. 2/17 10/24 5,928 5,928 1.25 6.01 1 107,493
55 First National Bancorp Inc. Libby, Mont. Montana First National Bancorp. Kalispell 1/2 11/22 5,512 5,512 1.55 12.89 1 27,195
56 Community Central Bank Corp. Mount Clemens, Mich. North Oakland Community Bank Rochester Hills, Mich. 7/9 10/17 4,389 4,389 1.42 NM 1 32,095
57 New England Bancshares Inc. Enfield, Conn. Windsor Locks Community Bank Conn. 1/22 12/12 3,350 3,221 1.39 20.13 2 37,334
58 Tomah Bancshares Inc. Wis. Wabeno Bancorp Inc. Wis. 6/10 11/10 2,666 2,666 1.92 49.37 2 13,925
59 Campbell Hill Bancshares Inc. Ill. Southwest Illinois Bancshares Inc. Coulterville, Ill. 7/24 10/1 2,313 2,313 1.2 15.63 1 16,163
60 Quality Bankshares Inc. Fingal, N.D. Page Bank Holding Co. Page, N.D. 7/15 10/23 890 890 1.73 NM 1 7,736
61 IBC Bancorp Inc. Chicago Sable Bancshares Inc. Chicago 11/25 11/25 NA NA NA NA 1 50,689
62 First Nebraska Bancs Inc. Sidney Deuel County Interstate Banc Co. Chappell, Neb. 10/1 10/31 NA NA NA NA 2 62,622
63 Perry Investment Co. Coon Rapids, Iowa Dallas Investment Co. Coon Rapids, Iowa 8/1 10/27 NA NA NA NA 3 69,978
64 Vision Bancshares Inc. Laredo, Tex. Somerset Bancshares Corp. Tex. 8/15 10/24 NA NA NA NA 1 18,725
65 First Citizens BancShares Inc. Raleigh Avery County Bank Newland, N.C. 5/28 10/20 NA NA NA NA 1 73,466
66 River Valley Bancorp Inc. Davenport, Iowa Cedar Valley Holding Co. St. Ansgar, Iowa 6/24 10/1 NA NA NA NA 1 12,330


*Merger-of-equals transaction
Source: Sheshunoff Information Services, a division of Thomas Corp.
© 2004 American Banker

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