Bank and Thrift M&A Announcements in First Quarter
April 05, 2001, 10:08 a.m. EDT 1 Min Read
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Bank and Thrift M&A Announcements in First Quarter
| in First Quarter | |
| | |
| Rank | Buyer | Target | Date | Price | Price to book | Price to 12-month net | Target's assets |
| 1 | Royal Bank of Canada Toronto | Centura Banks Inc. Rocky Mount, N.C. | Jan. 26 | $2,314,467 | 2.5 | 23.31 | $11,389,045 |
| 2 | Citigroup Inc. New York | European American Bank Uniondale, N.Y. | Feb. 12 | 1,950,000 | 2.72 | 11.45 | 15,384,023 |
| 3 | BB&T Corp. Winston-Salem, N.C. | F & M National Corp Winchester, Va. | Jan. 24 | 1,157,308 | 3.06 | 21.72 | 3,528,216 |
| 4 | New York Community Bancorp* Flushing, N.Y. | Richmond County Financial Corp. New York | 27-Mar | 782,044 | 2.35 | 19.97 | 3,213,063 |
| 5 | Charter One Financial Inc . Cleveland, Ohio | Alliance Bancorp Hinsdale, Ill. | Jan. 23 | 241,301 | 1.47 | 12.15 | 1,971,597 |
| 6 | Bank of Montreal Toronto | First National Bancorp Inc. Joliet, Ill. | 2-Mar | 219,840 | 2.36 | 20.7 | 1,075,980 |
| 7 | BB&T Corp. Winston-Salem, N.C. | Virginia Capital Bancshares Inc. Fredericksburg, Va. | Jan. 24 | 175,581 | 1.12 | 21.36 | 528,852 |
| 8 | North Fork Bancorp. Melville, N.Y. | Commercial Bank of New York New York | Feb. 13 | 175,191 | 1.82 | 17.58 | 1,355,743 |
| 9 | First Virginia Banks Inc. Falls Church, Va. | James River Bankshares Inc Suffolk, Va. | 5-Mar | 109,762 | 1.96 | 18.79 | 505,601 |
| 10 | Connecticut Bancshares Manchester, Conn. | First Federal S&L Association of East Hartford Conn. | Feb. 8 | 109,481 | 1.37 | 13.36 | 1,086,657 |
| 11 | United Parcel Service Inc. Atlanta | First International Bancorp Hartford, Conn. | Jan. 16 | 78,514 | 1.3 | 10.68 | 322,046 |
| 12 | Wesbanco Inc. Wheeling, W.Va. | American Bancorp. Wheeling, W.Va. | Feb. 22 | 74,017 | 2.16 | 14.52 | 715,370 |
| 13 | Chittenden Corp. Burlington, Vt. | Maine Bank Corp. Portland, Maine | Jan. 26 | 49,250 | 1.84 | 14.26 | 234,623 |
| 14 | Hancock Holding Co. Gulfport, Miss. | Lamar Capital Corp. Purvis, Miss. | Jan. 31 | 47,379 | 1.35 | 12.25 | 407,317 |
| 15 | Texas Financial Bancorp. Minneapolis | First National Bank of Texas Decatur, Tex. | Jan. 26 | 43,493 | 1.71 | 10.34 | 324,975 |
| 16 | MB Financial Inc. Chicago | FSL Holdings Inc. S Holland, Ill. | Feb. 9 | 41,305 | 1.27 | 19.76 | 211,039 |
| 17 | Promistar Financial Corp . Johnstown, Pa. | FNH Corp. Irwin, Pa. | Feb. 25 | 40,421 | 1.34 | 16.63 | 284,460 |
| 18 | Royal Bancshares of Pennsylvania Narberth, Pa. | Crusader Holding Co. Philadelphia | 13-Mar | 37,300 | 0.97 | 4.24 | 406,349 |
| 19 | GB&T Bancshares Inc. Gainesville, Ga. | Community Trust Finanical Services Hiram, Ga. | Feb. 2 | 37,049 | 2.24 | 26.42 | 142,000 |
| 20 | Pulaski Financial Corp.** St Louis, Mo. | First Bancorp of Indiana Inc. Evansville, Ind. | Jan. 30 | 35,924 | 0.99 | 31.13 | 132,659 |
| 21 | First Financial Corp. Terre Haute, IN | Community Financial Corp. Olney, Ill. | 30-Mar | 33,562 | 1.05 | NM | 233,964 |
| 22 | Sterling Bancshares Inc. Houston | Lone Star Bancorp. Inc. Houston | 1-Mar | 31,570 | 3.51 | 49.48 | 143,537 |
| 23 | Community First Banking Co . Carrollton, Ga. | First Deposit Bancshares Inc. Douglasville, Ga. | Jan. 18 | 29,670 | 1.18 | 18.84 | 139,163 |
| 24 | First Merchants Corp. Muncie, Ind. | Francor Financial Inc. Wabash, Ind. | Feb. 9 | 29,179 | 1.63 | 17.39 | 157,938 |
| 25 | Pocahontas Bancorp Pocahontas, Ark. | Walden/Smith Financial Group Inc. Jonesboro, Ark. | Jan. 4 | 27,919 | 1.78 | NA | 163,496 |
| 26 | Bannister Bank &Trust Co. Kansas City, Mo. | Pembroke Bancshares Inc . Kansas City, Mo. | Jan. 2 | 26,000 | 3.59 | 23.85 | 189,238 |
| 27 | ABC Bancorp Moultrie, Ga. | Golden Isles Financial Holdings St Simons Island, Ga. | Feb. 21 | 25,449 | 1.83 | 20.21 | 148,413 |
| 28 | Three Rivers Bancorp Monroeville, Pa. | Pennsylvania Capital Bank Pittsburgh | Feb. 1 | 19,766 | 1.87 | 19.53 | 144,091 |
| 29 | Jefferson County Bancshares Festus, Mo. | Perry County Financial Corp. Perryville, Mo. | Jan. 26 | 17,657 | 1.47 | NM | 93,949 |
| 30 | NBT Bancorp Norwich, N.Y. | First National Bancorp Inc. Norfolk, N.Y. | Jan. 2 | 15,064 | 1.6 | 20.01 | 112,501 |
| 31 | Sun Bancorp Selinsgrove, Pa. | Guaranty Bank NA Shamokin, Pa. | Jan. 16 | 14,400 | 1.87 | 10.41 | 121,908 |
| 32 | Ida Grove Bancshares Ida Grove, Iowa | Alliance Bancshares Inc. Rockwell City, Iowa | Feb. 14 | 12,000 | 1.61 | 13.51 | 63,153 |
| 33 | State Financial Services Corp Hales Corners, Wis. | LB Bancorp Inc. Milwaukee | 7-Mar | 12,000 | 1.38 | 13.42 | 91,732 |
| 34 | Commercial Bancgroup Harrogate, Tenn. | Cumberland Mountain Bancshares Middlesboro, Ky. | Feb. 9 | 9,528 | 1.11 | NM | 125,339 |
| 35 | Liberty Bank Middletown, Conn. | Hometown Bank Moodus, Conn. | Jan. 23 | 9,300 | 1.57 | 15.53 | 59,994 |
| 36 | ACME Holding Co. Mulberry, Ark. | Mansfield Bankstock Inc. Mansfield, Ark. | 9-Mar | 5,000 | 1.32 | 15.29 | 37,053 |
| 37 | Katy Bancshares Katy, Tex. | Katy Bank, N.A. Katy, Tex. | Feb. 1 | 4,875 | 1.78 | 16.7 | 32,425 |
| 38 | Peoples State Bank of Newton , Ill. | First National Bancshares Newton, Ill. | Jan. 16 | 4,100 | 0.85 | 12.42 | 39,434 |
| 39 | First Mid-Illinois Bancshares Mattoon, Ill. | American Bank of IL-Highland Highland, Ill. | Jan. 25 | 3,700 | 1.26 | 68.52 | 31,136 |
| 40 | Heartland Bancorp Bloomington, Ill. | Court Acceptance Co. Pekin, Ill. | Jan. 25 | 3,650 | 1.7 | 33.49 | 24,158 |
| 41 | Cowboy State Bancorp Ranchester, Wyo. | Tongue River Valley Bancshares Ranchester, Wyo. | Feb. 8 | 3,180 | 1.71 | 8.66 | 19,058 |
| 42 | Spectrum Bancorp. Omaha | Founders Trust National Bank Sioux Falls, S.D. | Jan. 24 | 2,752 | 1.25 | NM | 38,436 |
| 43 | One American Corp. Vacherie, La. | Schwegmann Bank & Trust Co. Harvey, La. | Feb. 2 | 2,675 | 1.12 | NM | 33,730 |
| 44 | Investor Group Melville, N.Y. | CGB&L Financial Group Inc. Cerro Gordo, Ill. | Jan. 12 | 2,346 | 1.34 | 38.19 | 7,951 |
| 45 | Native American Bancorp Denver | Blackfeet National Bank Browning, Mont. | Jan. 10 | 1,634 | 1.45 | NM | 18,128 |
| 46 | American Bancorp. Cedar Falls, Iowa | Newburg Corp. Saint Ansgar, Iowa | Jan. 9 | 1,363 | 3 | 34.08 | 9,985 |
| 47 | FMS Financial Corp. Burlington, N.J. | CloverBank Pennsauken, N.J. | Jan. 31 | NA | NA | NA | 30,196 |
| 48 | Investor Group | Dewey State Bank Dewey, Ill. | Jan. 23 | NA | NA | NA | 16,982 |
| 49 | Investor Group | Bank of Sierra Blanca Sierra Blanca, Tex. | Jan. 8 | NA | NA | NA | 12,371 |
| 50 | Citizens State Bank of Dickinson Dickinson, Tex. | League City Bank and Trust Co. League City, Tex. | Jan. 17 | NA | NA | NA | 106,884 |
| 51 | First National Bancshares Edmond, Okla. | Rockwell Bancorp Oklahoma City | Feb. 7 | NA | NA | NA | 44,333 |
| 52 | Persons Banking Co Lithonia, Ga. | Farmers Bank Forsyth, Ga. | Feb. 7 | NA | NA | NA | 46,619 |
| 53 | CIB Marine Bancshares Pewaukee, Wis. | Citrus Financial Services Vero Beach, Fla. | 6-Mar | NA | NA | NA | 93,616 |
| 54 | Southern Development Bancorp Arkadelphia, Ark. | Delta Bank and Trust Drew, Miss. | 20-Mar | NA | NA | NA | 16,871 |
| 55 | Third Federal Savings and Loan, MHC Cleveland | Ohio Central Savings Dublin, Ohio | Feb. 16 | NA | NA | NA | 42,015 |
*Merger-of-equals transaction
**Hostile/unsolicited bid
© 2001 American Banker