Bank and Thrift Deals Completed in the Second Quarter of 2006
Published August 02, 2006, 10:08 a.m. EDT
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Updated January 02, 1970, 9:08 a.m. EST
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Bank and Thrift Deals Completed in the Second Quarter of 2006
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| Published August 3, 2006 | ||||||||||
| Related Table: Top 10 Deals by price to Equity/price to net income | ||||||||||
| Rank | Buyer | Seller | Date | Price (millions) | Price at completion to: | Seller's | ||||
| Announced | Completed | Announced | Completed | Equity | 12-month net | Branches | Assets (000) | |||
| 1 | Sovereign Bancorp Inc. Philadelphia | Independence Community Bank Corp. Brooklyn, N.Y. | 10/24/2005 | 6/1/2006 | $3,591.20 | $3,591.20 | 1.57 | 17.43 | 126 | $18,500,360 |
| 2 | Marshall & Ilsley Corp. Milwaukee | Gold Banc Corp. Inc. Leawood, Kan. | 11/9/2005 | 4/1/2006 | 714.7 | 714.7 | 2.58 | 14.68 | 33 | 4,076,770 |
| 3 | BB&T Corp. Winston-Salem, N.C. | Main Street Banks Inc. Atlanta | 12/14/2005 | 6/1/2006 | 621.4 | 599.0 | 1.99 | 20.48 | 24 | 2,473,567 |
| 4 | New York Community Bancorp Inc. Westbury | Atlantic Bank of New York | 10/10/2005 | 4/28/2006 | 400.0 | 400.0 | 1.45 | 12.83 | 18 | 2,999,920 |
| 5 | Umpqua Holdings Corp. Portland, Ore. | Western Sierra Bancorp Cameron Park, Calif. | 2/7/2006 | 6/2/2006 | 356.3 | 351.6 | 2.61 | 19.06 | 33 | 1,292,573 |
| 6 | First Community Bancorp Rancho Santa Fe, Calif. | Foothill Independent Bancorp Glendora, Calif. | 12/14/2005 | 5/9/2006 | 238.0 | 244.0 | 3.47 | 21.62 | 12 | 794,070 |
| 7 | Prosperity Bancshares Inc. Houston | SNB Bancshares Inc. Sugar Land, Tex. | 11/16/2005 | 4/1/2006 | 242.7 | 238.8 | 2.89 | N.M. | 7 | 1,120,747 |
| 8 | Cascade Bancorp Bend, Ore. | F and M Holding Co. Boise, Idaho | 12/27/2005 | 4/20/2006 | 147.1 | 179.5 | 4.22 | 27.07 | 11 | 563,422 |
| 9 | Marshall & Ilsley Corp. Milwaukee | Trustcorp Financial Inc. St. Louis, Mo. | 12/21/2005 | 4/1/2006 | 180.1 | 179.2 | 3.14 | 18.5 | 7 | 705,359 |
| 10 | Placer Sierra Bancshares Sacramento, Calif. | Southwest Community Bancorp Carlsbad, Calif. | 2/15/2006 | 6/12/2006 | 175.0 | 175.0 | 3.24 | 15.65 | 9 | 656,503 |
| 11 | Susquehanna Bancshares Inc. Lititz, Pa. | Minotola National Bank Vineland, N.J. | 11/14/2005 | 4/21/2006 | 166.1 | 166.8 | 2.06 | 26.41 | 13 | 623,434 |
| 12 | Wintrust Financial Corp. Lake Forest, Ill. | Hinsbrook Bancshares Inc. Willowbrook, Ill. | 12/5/2005 | 5/31/2006 | 122.8 | 122.8 | 2.97 | 17.45 | 7 | 506,212 |
| 13 | FNB Corp. Asheboro, N.C. | Integrity Financial Corp. Hickory, N.C. | 9/18/2005 | 4/28/2006 | 128.4 | 122.0 | 1.81 | 25.45 | 17 | 668,298 |
| 14 | Whitney Holding Corp. New Orleans | First National Bancshares Inc. Bradenton, Fla. | 7/27/2005 | 4/13/2006 | 120.0 | 120.0 | 3.85 | 35.35 | 7 | 334,621 |
| 15 | Alabama National BanCorp. Birmingham | Florida Choice Bankshares Inc. Mount Dora | 10/27/2005 | 4/3/2006 | 108.8 | 117.6 | 3.21 | N.M. | 6 | 293,884 |
| 16 | Cathay General Bancorp Inc. Los Angeles | Great Eastern Bank New York | 2/16/2006 | 5/15/2006 | 101.0 | 101.0 | 3.12 | 36.11 | 6 | 320,510 |
| 17 | Bay View Capital Corp. San Mateo, Calif. | Great Lakes Bancorp Inc. Buffalo | 10/26/2005 | 5/1/2006 | 67.7 | 89.1 | 2.5 | N.M. | 9 | 745,003 |
| 18 | Synovus Financial Corp. Columbus, Ga. | Banking Corp. of Florida Naples Fla. | 10/24/2005 | 4/1/2006 | 82.6 | 84.5 | 3.14 | 17.91 | 3 | 322,398 |
| 19 | National City Corp. Cleveland | Forbes First Financial Corp. St. Louis, Mo. | 12/21/2005 | 5/1/2006 | 78.5 | 78.5 | 3.16 | 31.04 | 11 | 505,229 |
| 20 | Western Alliance Bancorp. Las Vegas | Bank of Nevada Las Vegas | 1/16/2006 | 4/29/2006 | 74.0 | 74.0 | 2.89 | 17.13 | 3 | 280,554 |
| 21 | F.N.B. Corp. Hermitage, Pa. | Legacy Bank Harrisburg, Pa. | 12/21/2005 | 5/26/2006 | 73.3 | 69.2 | 1.85 | 63.48 | 9 | 382,139 |
| 22 | First Place Financial Corp. Warren, Ohio | Northern Savings and Loan Co. Elyria, Ohio | 1/27/2006 | 6/27/2006 | 72.4 | 64.9 | 1.5 | 28.93 | 6 | 340,807 |
| 23 | RCB Holding Co. Claremore, Okla. | Pioneer Bancshares Inc. Ponca City, Okla. | 12/27/2005 | 4/15/2006 | 56.7 | 56.7 | 2.25 | 17.75 | 6 | 296,914 |
| 24 | Castle Creek Capital III LLC Rancho Santa Fe, Calif. | LDF Inc. Chicago | 9/20/2005 | 5/4/2006 | 53.2 | 53.2 | 2.33 | 11.18 | 2 | 410,254 |
| 25 | Seacoast Banking Corp. of Florida Stuart | Big Lake Financial Corp. Okeechobee, Fla. | 11/22/2005 | 4/1/2006 | 42.9 | 51.5 | 2.34 | 16.9 | 10 | 311,530 |
| 26 | Marquette National Corp. Chicago | Hemlock Federal Financial Corp. Oak Forest, Ill. | 12/29/2005 | 4/3/2006 | 49.0 | 49.0 | 1.97 | 20.45 | 6 | 292,330 |
| 27 | Flushing Financial Corp. Lake Success, N.Y. | Atlantic Liberty Financial Corp. Brooklyn, N.Y. | 12/20/2005 | 6/30/2006 | 41.5 | 43.2 | 1.52 | N.M. | 2 | 177,111 |
| 28 | MainSource Financial Group Inc. Greensburg, Ind. | Peoples Ohio Financial Corp. Troy | 9/28/2005 | 6/16/2006 | 41.9 | 41.9 | 1.62 | 21.54 | 5 | 199,881 |
| 29 | GBank and Trust Bancshares Inc. Gainesville, Ga. | Mountain Bancshares Inc. Dawsonville, Ga. | 12/19/2005 | 4/28/2006 | 41.9 | 40.8 | 3.31 | 30.7 | 2 | 124,346 |
| 30 | American Founders Bank Inc. Frankfort, Ky. | First Security Bancorp Inc. Lexington, Ky. | 12/12/2005 | 4/28/2006 | 38.4 | 38.4 | 1.83 | 42.86 | 4 | 203,515 |
| 31 | MainSource Financial Group Inc. Greensburg, Ind. | HFS Bank FSB Hobart, Ind. | 10/26/2005 | 5/24/2006 | 36.1 | 36.1 | 1.75 | 26.88 | 6 | 237,979 |
| 32 | Union Bankshares Corp. Bowling Green, Va. | Prosperity Bank and Trust Co. Springfield, Va. | 10/31/2005 | 4/1/2006 | 36.0 | 36.0 | 3.16 | 21.88 | 3 | 127,865 |
| 33 | Community Partners Bancorp Middletown, N.J. | Town Bank Westfield, N.J. | 8/16/2005 | 4/1/2006 | 41.2 | 34.7 | 2.15 | 22.52 | 2 | 147,068 |
| 34 | American National Bankshares Inc. Danville, Va. | Community First Financial Corp. Lynchburg, Va. | 10/18/2005 | 4/1/2006 | 33.1 | 34.4 | 2.51 | 39 | 4 | 164,930 |
| 35 | Orrstown Financial Services Inc. Shippensburg, Pa. | First National Bank of Newport Pa. | 11/21/2005 | 5/1/2006 | 33.6 | 32.9 | 2.43 | 22.63 | 5 | 123,155 |
| 36 | Stark Bank Group Fort Dodge, Iowa | Pelican Financial Inc. Ann Arbor, Mich. | 11/4/2005 | 4/21/2006 | 32.3 | 31.8 | 1.76 | N.M. | 6 | 194,488 |
| 37 | Texas United Bancshares Inc. La Grange | Northwest Bancshares Inc. Roanoke, Tex. | 11/22/2005 | 4/1/2006 | 31.0 | 31.0 | 2.76 | 17.7 | 5 | 124,871 |
| 38 | Tower Bancorp Inc. Greencastle, Pa. | FNB Financial Corp. McConnellsburg, Pa. | 9/21/2005 | 6/1/2006 | 31.2 | 29.9 | 1.91 | 23.53 | 6 | 180,686 |
| 39 | South Georgia Bank Holding Co. Omega | Community National Bancorp. Ashburn, Ga. | 6/16/2005 | 6/15/2006 | 25.3 | 25.3 | 1.7 | 18.04 | 3 | 131,418 |
| 40 | West Coast Bancorp Lake Oswego, Ore. | Mid-Valley Bank Woodburn, Ore. | 2/1/2006 | 6/26/2006 | 25.2 | 25.0 | 2.81 | 52.05 | 4 | 99,254 |
| 41 | First Mid-Illinois Bancshares Inc. Mattoon | Mansfield Bancorp Inc. Ill. | 2/14/2006 | 5/1/2006 | 24.0 | 24.0 | 1.57 | 17.57 | 3 | 122,147 |
| 42 | BankFinancial Corp. Burr Ridge, Ill. | University National Bank Chicago | 11/29/2005 | 4/5/2006 | 23.9 | 23.9 | 3.06 | 39.4 | 2 | 113,087 |
| 43 | Summit Bank Corp. Atlanta | Concord Bank Houston | 12/8/2005 | 4/1/2006 | 23.7 | 23.7 | 2.03 | 26.9 | 1 | 111,965 |
| 44 | FC Holdings Inc. Houston | Texas National Bancshares Inc. Tomball | 2/17/2006 | 6/1/2006 | 22.3 | 22.3 | 2.13 | 32.46 | 1 | 89,704 |
| 45 | First Banks Inc. Clayton, Mo. | First Independent National Bank Plano, Tex. | 1/18/2006 | 5/1/2006 | 19.2 | 19.2 | 2.41 | 59.75 | 2 | 76,452 |
| 46 | Heartland Financial USA Inc. Dubuque, Iowa | Bank of the Southwest Tempe, Ariz. | 12/30/2005 | 5/16/2006 | 18.0 | 18.0 | 1.49 | 13.88 | 1 | 74,764 |
| 47 | BlackRidge Financial Fargo, N.D. | Valley Bancshares Inc. Nisswa, Minn. | 11/16/2005 | 4/6/2006 | 17.5 | 17.5 | 1.29 | 17.32 | 6 | 89,152 |
| 48 | Northwest Bancorp Inc.Warren, Pa. | Maryland Permanent Bank and Trust Co. Owings Mills | 11/14/2005 | 5/19/2006 | 14.8 | 14.8 | 1.63 | N.M. | 2 | 86,466 |
| 49 | Wilshire Bancorp Inc. Los Angeles | Liberty Bank of New York | 8/1/2005 | 5/22/2006 | 15.7 | 14.3 | 1.58 | N.M. | 2 | 58,775 |
| 50 | First Fidelity Bancorp Inc. Oklahoma City | Apex Mortgage Co. Edmond, Okla. | 4/7/2006 | 6/14/2006 | 14.0 | 14.0 | 2.2 | 19.53 | 2 | 86,802 |
| 51 | Texas Independent Bancshares Inc. Texas City | Southeast Bancorp of Texas Winnie | 1/24/2006 | 4/1/2006 | 13.7 | 13.7 | 1.83 | 30.97 | 3 | 74,890 |
| 52 | ICB Financial Ontario, Calif. | Western State Bank Duarte, Calif. | 12/5/2005 | 5/22/2006 | 13.4 | 13.4 | 1.8 | N.M. | 2 | 55,755 |
| 53 | CBS Banc-Corp. Russellville, Ala. | Farmers Bank Cornersville, Tenn. | 12/31/2005 | 4/28/2006 | 12.1 | 12.1 | 1.5 | 29.37 | 2 | 80,992 |
| 54 | Norton Bankshares Inc. Norton, Kan. | First Bancshares of Hoxie Inc. Hoxie, Kan. | 12/19/2005 | 4/1/2006 | 10.8 | 10.8 | 1.42 | 18.31 | 1 | 66,827 |
| 55 | First Community Corp. Lexington, S.C. | Dekalb Bankshares Inc. Camden, S.C. | 12/7/2005 | 6/12/2006 | 10.0 | 9.5 | 1.84 | N.M. | 1 | 45,296 |
| 56 | Heritage Financial Corp. Olympia, Wash. | Western Washington Bancorp Federal Way | 1/24/2006 | 6/1/2006 | 9.0 | 9.0 | 2.42 | 20.85 | 1 | 58,079 |
| 57 | First Financial Banc Corp. El Dorado, Ark. | Cornerstone Bank Senatobia, Miss. | 2/9/2006 | 5/15/2006 | 8.3 | 8.3 | 2.05 | N.M. | 2 | 46,595 |
| 58 | Peoples Community Bancorp Inc. West Chester, Ohio | Mercantile Financial Corp. Cincinnati | 10/31/2005 | 6/9/2006 | 8.3 | 8.3 | 1.2 | N.M. | 1 | 56,922 |
| 59 | Waccamaw Bankshares Inc. Whiteville, N.C. | Bank of Heath Springs S.C. | 12/19/2005 | 4/28/2006 | 8.0 | 8.0 | 1.44 | 42.01 | 1 | 20,041 |
| 60 | Nutmeg Financial MHC Inc. Naugatuck, Conn. | Castle Bank and Trust Co. Meriden, Conn. | 10/7/2005 | 4/28/2006 | 8.0 | 8.0 | 1.39 | 51.26 | 2 | 74,265 |
| 61 | First M and F Corp. Kosciusko, Miss. | Crockett County Bancshares Inc. Bells, Tenn. | 10/13/2005 | 5/12/2006 | 7.4 | 7.4 | 1.59 | 33.33 | 1 | 31,648 |
| 62 | Exchange Financial Inc. Adair, Iowa | Adair Insurance Agency Inc. Iowa | 1/6/2006 | 5/1/2006 | 6.0 | 6.0 | 1.89 | N.M. | 2 | 41,686 |
| 63 | DBT Financial Corp. Dewitt, Ark. | Planters and Merchants Bancshares Inc. Gillett, Ark. | 12/8/2005 | 4/30/2006 | 5.8 | 5.8 | 1.66 | 48.74 | 1 | 27,402 |
| 64 | Gregg Bancshares Inc. Nixa, Mo. | Glasgow Savings Bank Mo. | 11/28/2005 | 4/1/2006 | 5.0 | 5.0 | 1.29 | N.M. | 1 | 29,506 |
| 65 | John R. Turner Holding Co. Jackson, Ky. | Middleburg Bancorp Inc. Ky. | 1/20/2006 | 4/7/2006 | 3.9 | 3.9 | 1.71 | 18.47 | 2 | 40,789 |
| 66 | Atlanta Bancorp. Inc. | Gibsonville Community Bank Inc. N.C. | 12/21/2004 | 4/28/2006 | 3.8 | 3.8 | 1.45 | 17.36 | 1 | 20,874 |
| 67 | First Banks Inc. Clayton, Mo. | Pittsfield Community Bancorp Inc. Ill. | 12/19/2005 | 4/28/2006 | 3.8 | 3.8 | 2.19 | N.M. | 3 | 21,398 |
| 68 | Frontier Bancshares Inc. Austin, Tex. | First National Bank of Holland Tex. | 1/23/2006 | 4/4/2006 | 3.0 | 3.0 | 2.95 | 51.72 | 1 | 9,211 |
| 69 | Kansasland Bancshares Inc. Quinter, Kan. | Flint Hills Financial Services Corp. Americus, Kan. | 12/30/2005 | 5/22/2006 | 2.1 | 2.1 | 2.28 | 30.37 | 1 | 13,917 |
| 70 | Indiana Bank Corp. Dana | First National Bank of Dana Ind. | 9/15/2005 | 4/20/2006 | 1.9 | 1.9 | 1.29 | 20.57 | 1 | 29,220 |
| 71 | Madison Bohemian Savings Bank Forest Hill, Md. | Back and Middle River Federal Savings and Loan Assn. Essex, Md. | 10/10/2005 | 4/8/2006 | NA | NA | NA | NA | 1 | 4,339 |
| 72 | Mercantil Servicios Financieros Caracas | Florida Savings Bank Pinecrest | 1/26/2006 | 5/5/2006 | NA | NA | NA | NA | 3 | 130,515 |
| 73 | Bank of East Asia Ltd. Hong Kong | National American Bancorp San Francisco | 1/3/2006 | 5/19/2006 | NA | NA | NA | NA | 3 | 86,085 |
| 74 | Wells Fargo & Co. San Francisco | Fremont National Bank of Canon City Colo. | 12/5/2005 | 6/1/2006 | NA | NA | NA | NA | 4 | 139,144 |
| 75 | Wells Fargo & Co. San Francisco | Centennial Bank of Pueblo Colo. | 12/5/2005 | 6/1/2006 | NA | NA | NA | NA | 3 | 32,790 |
| 76 | State Capital Corp. Greenwood, Miss. | Consumer National Bank Jackson, Miss. | 2/24/2006 | 6/1/2006 | NA | NA | NA | NA | 4 | 48,114 |
Source: SNL Finanical, Charlotte, Va. (www.snl.com)
© 2006 American Banker