Bank and Thrift Merger Bids
January 07, 2004, 10:08 a.m. EST 1 Min Read
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Bank and Thrift Merger Bids
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| Published January 7, 2004 | |||||||
| Related Table: Top 10 Deals by Announced Price to Equity | |||||||
| Announced price to: | |||||||
| Rank | Buyer | Target | Date | Sale price | Equity | Net | Seller's assets |
| 1 | Bank of America Corp. Charlotte | FleetBoston Financial Corp. | Oct. 27 | $49,604,484 | 2.72 | 22.50 | $196,398,000 |
| 2 | Independence Community Bank Corp. Brooklyn, N.Y. | Staten Island Bancorp Inc. New York | Nov. 25 | 1,498,248 | 2.26 | 16.87 | 7,554,089 |
| 3 | North Fork Bancorp Melville, N.Y. | Trust Co. of New Jersey Jersey City | Dec. 16 | 725,619 | 2.56 | 22.98 | 4,291,333 |
| 4 | Provident Financial Services Inc. Jersey City | First Sentinel Bancorp Inc. Woodbridge, N.J. | Dec. 22 | 643,818 | 2.99 | 24.23 | 2,245,130 |
| 5 | National City Corp. Cleveland | Allegiant Bancorp Inc. St. Louis | Nov. 20 | 489,003 | 2.43 | 20.17 | 2,458,878 |
| 6 | Webster Financial Corp. Waterbury, Conn. | Firstfed America Bancorp Swansea, Mass. | Oct. 7 | 464,527 | 2.16 | 17.08 | 2,512,296 |
| 7 | BB&T Corp. Winston-Salem, N.C. | Republic Bancshares Inc. St. Petersburg, Fla. | Dec. 2 | 437,059 | 2.03 | 47.54 | 2,776,226 |
| 8 | Partners Trust Financial Group Inc. Utica, N.Y. | BSB Bancorp Inc. Binghamton, N.Y. | Dec. 24 | 344,689 | 2.30 | 20.61 | 2,173,104 |
| 9 | Provident Bankshares Corp. Baltimore | Southern Financial Bancorp Inc. Warrenton, Va. | Nov. 3 | 332,848 | 2.78 | 26.09 | 1,106,906 |
| 10 | Banknorth Group Inc. Portland, Maine | CCBT Financial Cos. Inc. South Yarmouth, Mass. | Dec. 9 | 304,112 | 2.63 | 48.59 | 1,352,913 |
| 11 | Hanmi Financial Corp. Los Angeles | Pacific Union Bank Los Angeles | Dec. 22 | 299,117 | 2.76 | 25.31 | 1,057,804 |
| 12 | Hibernia Corp. New Orleans | Coastal Bancorp Inc. Houston | Dec. 2 | 232,893 | 1.65 | 13.17 | 2,641,056 |
| 13 | Susquehanna Bancshares Inc. Lititz, Pa. | Patriot Bank Corp. Pottstown, Pa. | Dec. 11 | 205,391 | 3.05 | 23.46 | 1,011,121 |
| 14 | First Commonwealth Financial Corp. Indiana, Pa. | GA Financial Inc. Pittsburgh | Dec. 12 | 186,046 | 1.86 | 24.76 | 882,962 |
| 15 | National Penn Bancshares Inc. Boyertown, Pa. | Peoples First Inc. Oxford, Pa. | Dec. 18 | 148,872 | 2.99 | 28.27 | 456,377 |
| 16 | Colonial BancGroup Inc. Montgomery, Ala. | P.C.B. Bancorp Inc. Clearwater, Fla. | Dec. 23 | 143,134 | 3.08 | 23.76 | 660,113 |
| 17 | Seacoast Financial Services Corp. New Bedford, Mass. | Abington Bancorp Inc. Mass. | Oct. 21 | 141,313 | 2.25 | 28.91 | 950,600 |
| 18 | Pacific Capital Bancorp Santa Barbara, Calif. | Pacific Crest Capital Inc. Agoura Hills, Calif. | Oct. 16 | 135,941 | 2.74 | 15.27 | 592,278 |
| 19 | Alabama National BanCorp. Birmingham | Indian River Banking Co. Vero Beach, Fla. | Oct. 22 | 109,307 | 2.82 | 20.25 | 516,536 |
| 20 | Lakeland Bancorp Inc. Oak Ridge, N.J. | Newton Financial Corp. N.J. | Oct. 27 | 96,999 | 2.86 | 31.67 | 320,160 |
| 21 | Banknorth Group Inc. Portland, Maine | Foxborough Savings Bank Mass. | Nov. 25 | 89,600 | 2.98 | 22.17 | 231,074 |
| 22 | First Place Financial Corp. Warren, Ohio | Franklin Bancorp Inc. Southfield, Mich. | Nov. 10 | 84,640 | 1.81 | 55.72 | 536,172 |
| 23 | TowneBank Portsmouth, Va. | Harbor Bank Newport News, Va. | Oct. 23 | 84,277 | 3.08 | 40.38 | 262,983 |
| 24 | Synovus Financial Corp. Columbus, Ga. | Peoples Florida Banking Corp. Palm Harbor | Oct. 7 | 70,730 | 4.13 | 24.14 | 247,841 |
| 25 | Union Bankshares Corp. Bowling Green, Va. | Guaranty Financial Corp. Charlottesville, Va. | Dec. 19 | 54,273 | 2.68 | 27.75 | 197,075 |
| 26 | Home Bancshares Inc. Conway, Ark. | Russellville Bancshares Inc. Jonesboro, Ark. | Dec. 23 | 54,000 | 1.41 | 10.45 | 399,347 |
| 27 | NBC Capital Corp. Starkville, Miss. | Enterprise Bancshares Inc. Memphis | Dec. 11 | 53,100 | 2.38 | 36.97 | 262,169 |
| 28 | Southwest Bancorp. of Texas Houston | Reunion Bancshares Inc. Dallas | Oct. 27 | 50,000 | 2.95 | 30.19 | 213,913 |
| 29 | Investor group** Mentor, Ohio | GLB Bancorp Inc.** Mentor, Ohio | Oct. 12 | 48,165 | 1.58 | 33.28 | 206,713 |
| 30 | Harleysville National Corp. Pa. | Millennium Bank Malvern, Pa. | Oct. 15 | 46,000 | 3.04 | N/M | 181,513 |
| 31 | First Community Bancshares Inc. Bluefield, Va. | PCB Bancorp Inc. Johnson City, Tenn. | Dec. 31 | 36,531 | 2.52 | 17.28 | 166,802 |
| 32 | First Community Bancorp Rancho Santa Fe, Calif. | Harbor National Bank Newport Beach, Calif. | Dec. 1 | 35,500 | 2.40 | 48.72 | 167,983 |
| 33 | Bank of Montreal Toronto | Lakeland Financial Corp. Round Lake Heights, Ill. | Nov. 24 | 34,600 | 2.48 | N/M | 171,362 |
| 34 | Investor group** Ark. | HCB Bancshares Inc.** Camden, Ark. | Dec. 15 | 28,392 | 1.00 | 58.99 | 242,098 |
| 35 | Alabama National BanCorp. Birmingham | Cypress Bankshares Inc. Palm Coast, Fla. | Oct. 15 | 26,671 | 2.84 | 32.72 | 108,044 |
| 36 | Simmons First National Corp. Pine Bluff, Ark. | Alliance Bancorp Inc. Hot Springs, Ark. | Oct. 8 | 25,474 | 2.27 | 17.74 | 138,557 |
| 37 | Upson Bankshares Inc. * Thomaston, Ga. | First Polk Bancshares Inc. * Cedartown, Ga. | Dec. 5 | 23,745 | 1.29 | 10.35 | 150,759 |
| 38 | Prosperity Bancshares Inc. Houston | First State Bank of North Texas Cedar Hill | Oct. 6 | 21,413 | 2.19 | 8.03 | 93,792 |
| 39 | Landmark Bancorp Inc. Manhattan, Kan. | First Kansas Financial Corp. Osawatomie | Nov. 13 | 17,911 | 1.06 | 32.87 | 151,583 |
| 40 | Pacific Financial Corp. Aberdeen, Wash. | BNW Bancorp Inc. Bellingham, Wash. | Oct. 22 | 17,658 | 2.40 | 21.65 | 92,313 |
| 41 | Liberty Bancshares Inc. Arnolds Park, Iowa | StateFed Financial Corp. Des Moines | Nov. 18 | 17,648 | 1.26 | N/M | 94,692 |
| 42 | Iberiabank Corp. New Iberia, La. | Alliance Bank of Baton Rouge La. | Nov. 17 | 15,472 | 1.61 | 32.48 | 77,514 |
| 43 | American Community Bancshares Inc. Monroe, N.C. | FNB Bancshares Inc. Gaffney, S.C. | Nov. 5 | 15,404 | 1.84 | 22.68 | 74,370 |
| 44 | Community Bancshares of Mississippi Inc. Brandon | Security Bancshares Inc. Amory, Miss. | Nov. 14 | 15,000 | 0.79 | 14.27 | 146,650 |
| 45 | Salisbury Bancorp Inc. Lakeville, Conn. | Canaan National Bancorp Inc. Conn. | Nov. 18 | 14,904 | 1.73 | 19.34 | 107,237 |
| 46 | MainSource Financial Group Inc. Greensburg, Ind. | Peoples Financial Corp. Linton, Ind. | Dec. 16 | 13,289 | 1.15 | 27.29 | 120,251 |
| 47 | Fentura Financial Inc. Mich. | West Michigan Financial Corp. Hudsonville | Oct. 15 | 13,100 | 2.43 | 45.02 | 125,436 |
| 48 | Capitol Bancorp Ltd. Lansing, Mich. | First Carolina State Bank Rocky Mount, N.C. | Dec. 1 | 10,737 | 1.65 | 84.36 | 57,584 |
| 49 | Bancshares of Florida Inc. Naples | Horizon Financial Corp. Pembroke Pines, Fla. | Dec. 18 | 10,496 | 1.82 | 43.37 | 83,077 |
| 50 | Southwest Georgia Financial Corp. Moultrie | First Bank Holding Co. Sylvester, Ga. | Nov. 24 | 9,756 | 1.42 | 25.41 | 46,942 |
| 51 | Foundation Bancorp Inc. Cincinnati | Lenox Bancorp Inc. Cincinnati | Oct. 10 | 7,200 | 1.34 | N/M | 55,826 |
| 52 | Franklin Bank Corp. Houston | Lost Pines Bancshares Inc. Smithville, Tex. | Nov. 13 | 6,900 | 1.64 | 16.16 | 40,529 |
| 53 | 1st United Bancorp Boca Raton, Fla. | First Western Bank Cooper City, Fla. | Dec. 16 | 6,600 | 1.77 | 25.98 | 30,539 |
| 54 | United Security Bancshares Fresno | Taft National Bank Calif. | Dec. 11 | 6,465 | 1.89 | N/M | 55,235 |
| 55 | Shore Bancshares Inc. Easton, Md. | Midstate Bancorp Inc. Felton, Del. | Nov. 12 | 6,407 | 2.04 | 14.50 | 47,506 |
| 56 | Gulf Atlantic Financial Group Inc. Tallahassee, Fla. | First National Bank Tarpon Springs, Fla. | Oct. 22 | 6,000 | 2.00 | 47.24 | 28,274 |
| 57 | Wayne Savings Bancshares Inc. Wooster, Ohio | Stebbins Bancshares Inc. Creston, Ohio | Oct. 31 | 5,200 | 1.53 | N/M | 28,836 |
| 58 | ColoEast Bankshares Lamar, Colo. | First National Bank of Tribune Kan. | Oct. 8 | 4,600 | 1.36 | 38.66 | 35,969 |
| 59 | Patapsco Bancorp Inc. Dundalk, Md. | Parkville Federal Savings Bank Baltimore | Nov. 12 | 4,380 | 1.26 | 21.39 | 48,501 |
| 60 | Franklin Financial Group Southfield, Mich. | Approved Financial Corp. Virginia Beach | Oct. 1 | 2,559 | 1.00 | 8.07 | 59,152 |
| 61 | Synovus Financial Corp Columbus, Ga. | Trust One Bank Memphis | Dec. 17 | NA | NA | NA | 423,545 |
| 62 | IBC Bancorp Inc. Chicago | Sable Bancshares Inc. Chicago | Nov. 25 | NA | NA | NA | 50,689 |
| 63 | Liberty Bancshares Inc. Jonesboro, Ark. | Spring Rivers Bancshares Inc. Imboden, Ark. | Nov. 18 | NA | NA | NA | 84,054 |
| 64 | Undisclosed acquirer | North Country Financial Corp. Manistique, Mich. | Nov. 16 | NA | NA | NA | 453,725 |
| 65 | City Bancorp * Springfield, Mo. | Signature Bancshares Inc. * Springfield, Mo. | Oct. 30 | NA | NA | NA | 305,321 |
| 66 | Centrue Financial Corp. Kankakee, Ill. | Parish Bank and Trust Co. Momence, Ill. | Oct. 29 | NA | NA | NA | 20,388 |
| 67 | KSB Bancorp Inc. Kaplan, La. | Teche Bancshares Inc. St. Martinville, La. | Oct. 27 | NA | NA | NA | 70,417 |
| 68 | Western Bancshares Inc. Van Horn, Tex. | First National Bank Lubbock, Tex. | Oct. 15 | NA | NA | NA | 35,641 |
| 69 | PanAmerican Bancorp Hollywood, Fla. | Gulf Bank Miami | Oct. 15 | NA | NA | NA | 76,730 |
| 70 | First Security Bancorp Searcy, Ark. | First National Bank of Springdale Ark. | Oct. 8 | NA | NA | NA | 349,072 |
| 71 | First Nebraska Bancs Inc. Sidney | Deuel County Interstate Banc Co. Chappell, Neb. | Oct. 1 | NA | NA | NA | 62,622 |
* Merger-of-equals transaction ** Hostile or unsolicited bid
Source: Sheshunoff Information Services, a division of Thomson Corp.
© 2004 American Banker