Bank and Thrift Merger Bids
Published April 08, 2004, 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 Merger Bids
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| Published April 8, 2004 | |||||||
| Related Table: Deals with highest announced price to equity and price to net income | |||||||
| Buyer | Target | Date | Price | Equity | Net | Targets assets | |
| 1 | J.P. Morgan Chase & Co. New York | Bank One Corp. Chicago | Jan. 14 | $59,239,713 | 2.47 | 16.37 | $326,563,000 |
| 2 | North Fork Bancorp Melville, N.Y. | GreenPoint Financial Corp. New York | Feb. 16 | 6,272,137 | 3.41 | 13.3 | 22,985,000 |
| 3 | Regions Financial Corp. * Birmingham, Ala. | Union Planters Corp. * Memphis | Jan. 23 | 6,008,634 | 1.93 | 11.87 | 31,910,729 |
| 4 | National City Corp. Cleveland | Provident Financial Group Inc. Cincinnati | Feb. 17 | 2,094,179 | 2.25 | 21.52 | 17,607,633 |
| 5 | BancWest Corp. Honolulu | Community First Bankshares Fargo | Mar. 16 | 1,216,815 | 3.29 | 15.85 | 5,465,107 |
| 6 | Sovereign Bancorp Inc. Philadelphia | Seacoast Financial Services Corp. New Bedford, Mass. | Jan. 26 | 1,099,213 | 2.41 | 32.42 | 4,385,136 |
| 7 | Sovereign Bancorp Inc. Philadelphia | Waypoint Financial Corp. Harrisburg, Pa. | Mar. 9 | 981,207 | 2.27 | 21.63 | 5,429,818 |
| 8 | Silver Acquisition Corp. Leawood, Kan. | Gold Banc Corp. Inc. Leawood, Kan. | Feb. 25 | 665,866 | 2.63 | 22.29 | 4,322,625 |
| 9 | Huntington Bancshares Inc. Columbus, Ohio | Unizan Financial Corp. Canton, Ohio | Jan. 27 | 576,489 | 1.89 | 24.6 | 2,727,249 |
| 10 | Commercial Capital Bancorp Inc. Irvine, Calif. | Hawthorne Financial Corp. El Segundo, Calif. | Jan. 27 | 492,841 | 2.4 | 15.62 | 2,574,319 |
| 11 | International Bancshares Corp. Laredo, Tex. | Local Financial Corp. Oklahoma City | Jan. 22 | 383,426 | 2.07 | 12.95 | 2,940,697 |
| 12 | Popular Inc. Hato Rey, Puerto Rico | Quaker City Bancorp Inc. Whittier, Calif. | Mar. 19 | 369,612 | 2.41 | 15.55 | 1,755,062 |
| 13 | Umpqua Holdings Corp. Portland, Ore. | Humboldt Bancorp Roseville, Calif. | Mar. 15 | 338,242 | 2.28 | 9.24 | 1,038,314 |
| 14 | Sky Financial Group Inc. Bowling Green, Ohio | Second Bancorp Inc. Warren, Ohio | Jan. 8 | 320,108 | 2.28 | 13.52 | 2,116,761 |
| 15 | Bank of Montreal Toronto, Canada | New Lenox Holding Co. Ill. | Feb. 4 | 228,500 | 3.12 | 14.47 | 980,857 |
| 16 | First National Bankshares of Florida Inc. Naples | Southern Community Bancorp Orlando | Mar. 22 | 226,000 | 3.06 | 39.13 | 856,619 |
| 17 | FBOP Corp. Oak Park, Ill. | California Savings Bank San Francisco | Mar. 8 | 170,000 | 1.72 | 42.63 | 796,758 |
| 18 | South Financial Group Inc. Greenville, S.C. | Florida Banks Inc. Jacksonville | Mar. 17 | 163,450 | 3.02 | 40.01 | 965,079 |
| 19 | South Financial Group Inc. Greenville, S.C. | CNB Florida Bancshares Inc. Jacksonville | Jan. 21 | 159,889 | 2.67 | 22.91 | 819,935 |
| 20 | Castle Creek CapitalRancho Santa Fe, Calif. | Centennial Bank Holdings Inc. Eaton, Colo. | Mar. 4 | 155,000 | 2.69 | 24.8 | 708,099 |
| 21 | SouthTrust Corp. Birmingham, Ala. | FloridaFirst Bancorp Inc. Lakeland | Feb. 5 | 154,242 | 1.41 | 25.19 | 821,190 |
| 22 | Provident Bancorp Inc. Montebello, N.Y. | Warwick Community Bancorp Inc. N.Y. | Mar. 16 | 153,403 | 1.99 | 22.71 | 759,996 |
| 23 | MB Financial Inc. Chicago | First SecurityFed Financial Inc. Chicago | Jan. 12 | 149,376 | 1.72 | 16.83 | 490,842 |
| 24 | TierOne Corp. Lincoln, Neb. | United Nebraska Financial Co. Grand Island | Mar. 31 | 97,300 | 1.88 | 16.99 | 554,926 |
| 25 | Sun Bancorp Inc. Vineland, N.J. | Community Bancorp of New Jersey Freehold | Feb. 17 | 83,608 | 3.05 | 30.29 | 432,964 |
| 26 | Community Bank System Inc. DeWitt, N.Y. | First Heritage Bank Wilkes Barre, Pa. | Jan. 6 | 73,870 | 2.11 | 19.47 | 287,999 |
| 27 | Whitney Holding Corp. New Orleans | Madison BancShares Inc. Palm Harbor, Fla. | Mar. 19 | 65,839 | 3.81 | 29.74 | 197,429 |
| 28 | Peoples Holding Co. Tupelo, Miss. | Renasant Bancshares Inc. Germantown, Tenn. | Feb. 17 | 56,700 | 3.03 | 42.66 | 213,535 |
| 29 | Independent Bank Corp. Ionia, Mich. | Midwest Guaranty Bancorp Troy, Mich. | Feb. 5 | 43,000 | 2.28 | 17.91 | 233,580 |
| 30 | First Busey Corp. Urbana, Ill. | First Capital Bankshares Inc. Peoria, Ill. | Jan. 6 | 41,390 | 2.78 | 25.04 | 216,628 |
| 31 | Lincoln Bancorp Plainfield, Ind. | First Shares Bancorp Inc. Greenwood, Ind. | Mar. 11 | 37,700 | 2.94 | 52.28 | 181,156 |
| 32 | Independent Bank Corp. Rockland, Mass. | Falmouth Bancorp Inc. Mass. | Jan. 9 | 36,864 | 1.92 | N/M | 158,109 |
| 33 | First Citizens Banc Corp. Sandusky, Ohio | FNB Financial Corp. Shelby, Ohio | Mar. 4 | 35,464 | 1.32 | N/M | 218,580 |
| 34 | Heartland Financial USA Inc. Dubuque, Iowa | Rocky Mountain Bancorp Billings, Mont. | Feb. 9 | 34,500 | 1.67 | 18.6 | 367,393 |
| 35 | Cascade Financial Corp. Everett, Wash. | Issaquah Bancshares Inc. Wash. | Feb. 11 | 34,422 | 3.34 | 21.14 | 139,070 |
| 36 | Carver Bancorp Inc. New York | Independence Federal Savings Bank Washington | Mar. 15 | 32,603 | 1.49 | N/M | 217,492 |
| 37 | Alabama National BanCorp. Birmingham | Coquina Bank Ormond Beach, Fla. | Mar. 31 | 30,563 | 2.56 | 21.11 | 100,352 |
| 38 | Rock Bancshares Inc. Camden, Ark. | HCB Bancshares Inc. Camden, Ark. | Jan. 14 | 28,332 | 0.97 | 55.36 | 232,458 |
| 39 | Capital City Bank Group Inc. Tallahassee, Fla. | Quincy State Bank Fla. | Jan. 8 | 28,100 | 2.51 | 10.58 | 119,221 |
| 40 | Investor group Ill. | Strategic Capital Bancorp Inc. Champaign, Ill. | Jan. 3 | 25,000 | 2.08 | 90.25 | 157,042 |
| 41 | United Community Banks Inc. Blairsville, Ga. | Fairbanco Holding Co. Fairburn, Ga. | Mar. 16 | 24,500 | 1.41 | 22.54 | 195,903 |
| 42 | Citizens Bank of Frostproof Fla. | American Banking Corp. Lake Wales, Fla. | Jan. 12 | 21,920 | 2.07 | 35 | 116,697 |
| 43 | Capitol Bancorp Ltd. Lansing, Mich. | AEA Bancshares Inc. Seattle | Jan. 14 | 20,000 | 1.43 | 21.73 | 143,521 |
| 44 | Harrodsburg First Financial Bancorp Inc. Ky. | Independence Bancorp New Albany, Ind. | Jan. 22 | 17,136 | 2.45 | 25.93 | 102,749 |
| 45 | Farmers Capital Bank Corp. Frankfort, Ky. | Citizens Bank Georgetown, Ky. | Feb. 13 | 14,500 | 1.86 | N/M | 80,042 |
| 46 | Summit Bancshares Inc. Fort Worth, Tex. | ANB Financial Corp. Arlington, Tex. | Feb. 5 | 13,800 | 2.65 | 23.59 | 91,474 |
| 47 | First Financial Bankshares Inc. Abilene, Tex. | Liberty National Bank Granbury, Tex. | Mar. 4 | 12,800 | 2.05 | 12.16 | 62,841 |
| 48 | Central Banking Services Inc. St. Cloud, Minn. | St. Joseph Bancshares Inc. Minn. | Jan. 7 | 12,500 | 2.33 | 9.08 | 61,758 |
| 49 | HGroup Acquisition Co. Dallas | Heritage Bancshares Inc. Terrell, Tex. | Jan. 14 | 12,423 | 1.57 | N/M | 52,828 |
| 50 | Fairfield County Bank Corp. Norwalk, Conn. | Bank of Westport Conn. | Feb. 10 | 11,200 | 1.72 | N/M | 67,200 |
| 51 | Camco Financial Corp. Cambridge, Ohio | London Financial Corp. London, Ohio | Mar. 26 | 10,090 | 1.81 | 20.6 | 58,941 |
| 52 | Teche Holding Co. Franklin, La. | St. Landry Financial Corp. Opelousas, La. | Mar. 4 | 10,061 | 1.19 | 37.62 | 71,314 |
| 53 | Independent Bank Corp. Ionia, Mich. | North Bancorp Inc. Gaylord, Mich. | Mar. 5 | 8,526 | 2.14 | N/M | 198,482 |
| 54 | Vision Bancshares Inc. Gulf Shores, Ala. | BankTrust of Florida Wewahitchka | Feb. 27 | 7,500 | 1.27 | 26.41 | 46,340 |
| 55 | Gainsville Bank and Trust Bancshares Inc. Ga. | Lumpkin County Bank Dahlonega, Ga. | Feb. 11 | 5,480 | 1.27 | N/M | 73,609 |
| 56 | Larch Bancorp. Inc. Larchwood, Iowa | Ellsworth Bancshares Inc. Minn. | Feb. 17 | 4,332 | 1.18 | 22.1 | 32,824 |
| 57 | Pine River Bank Corp. Bayfield, Colo. | First National Bank of Lake City Colo. | Jan. 14 | 2,600 | 1 | 22.03 | 32,783 |
| 58 | Investor group Holland, Tex. | First National Bank of Holland Holland, Tex. | Feb. 22 | 2,500 | 2.68 | 43.1 | 8,266 |
| 59 | Haines Financial Corp. Woodward, Okla. | First National Bank of Medford Okla. | Mar. 31 | NA | NA | NA | 26,455 |
| 60 | Northbrook Investments LLC ** Ill. | North Bancshares Inc. ** Chicago | Mar. 24 | NA | NA | NA | 129,981 |
| 61 | American State Bancshares Inc. Great Bend, Kan. | First United Holding Co. St John, Kan. | Mar. 22 | NA | NA | NA | 46,523 |
| 62 | EuroBancshares Inc. Hato Rey, Puerto Rico | Bank and Trust of Puerto Rico Hato Rey | Feb. 25 | NA | NA | NA | 651,107 |
| 63 | Center Financial Corp. Los Angeles | Liberty Bank of New York | Feb. 20 | NA | NA | NA | 75,874 |
| 64 | First Holding Co. Cavalier, N.D. | Argyle Financial Services Minn. | Feb. 14 | NA | NA | NA | 14,264 |
| 65 | National Bankshares Inc. Blacksburg, Va. | Community National Bank Pulaski, Va. | Feb. 3 | NA | NA | NA | 69,249 |
| 66 | Fidelity Financial Corp. Wichita | Bridgeview Bank Oklahoma City | Jan. 14 | NA | NA | NA | 33,930 |
| 67 | Happy Bancshares Inc. Canyon, Tex. | Sun Banc Corp. Sunray, Tex. | Jan. 2 | NA | NA | NA | 122,738 |
*Merger-of-equals transaction
**Hostile or unsolicited bid
Source: Sheshunoff Information Services, a division of Thomson Corp.
© 2004 American Banker