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Bank and Thrift Merger Bids Announced

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Bank and Thrift Merger Bids Announced

Bank and Thrift Merger Bids Announced
Through April 30, 2004. Ranked by price. Dollars in thousands
Published May 25, 2004
            Price to:   Seller's
  Buyer Target Announced Completed Price Equity 12-mo. Net Buyer's assets Assets Employees Branches
1 J.P. Morgan Chase & Co. New York Bank One Corp. Chicago Jan. 14 pending $59,239,713 2.47 16.37 $770,912,000 $326,563,000 66,768 1,799
2 North Fork Bancorp. Melville, N.Y. GreenPoint Financial Corp. New York Feb. 16 pending 6,272,137 3.41 13.29 20,961,641 22,985,000 4,683 86
3 Regions Financial Corp.* Birmingham, Ala. Union Planters Corp.* Memphis Jan. 23 pending 6,008,634 1.93 11.87 48,597,996 31,910,729 10,640 717
4 National City Corp. Cleveland Provident Financial Group Inc. Cincinnati Feb. 17 pending 2,094,179 2.23 20.72 113,933,460 17,017,505 3,177 65
5 BancWest Corp. Honolulu, Hawaii Community First Bankshares Fargo, N.D. 16-Mar pending 1,216,815 3.29 15.85 38,352,215 5,465,107 2,162 155
6 Sovereign Bancorp Inc. Philadelphia Seacoast Financial Services Corp. New Bedford, Mass. Jan. 26 pending 1,099,213 2.41 32.42 43,505,329 4,385,136 852 53
7 Sovereign Bancorp Inc. Philadelphia Waypoint Financial Corp. Harrisburg, Pa. 9-Mar pending 981,207 2.33 22.62 43,505,329 5,329,902 942 65
8 Silver Acquisition Corp. Leawood, Kan. Gold Banc Corp. Inc. Leawood, Kan. Feb. 25 pending 665,866 2.63 22.29 NA 4,322,625 883 57
9 First Niagara Financial Group Inc. Lockport, N.Y. Hudson River Bancorp Inc. Hudson, N.Y. 2-Apr pending 619,020 2.18 19.42 3,589,507 2,579,259 707 50
10 Associated Banc-Corp Green Bay, Wis. First Federal Capital Corp. La Crosse, Wis. 28-Apr pending 613,668 2.18 17.35 15,247,894 3,308,324 1,213 91
11 Huntington Bancshares Inc. Columbus, Ohio Unizan Financial Corp. Canton, Ohio Jan. 27 pending 576,489 1.89 24.6 30,483,804 2,727,249 735 46
12 Commercial Capital Bancorp Inc. Irvine, Calif. Hawthorne Financial Corp. El Segundo, Calif. Jan. 27 pending 492,841 2.4 15.62 1,723,139 2,674,003 386 12
13 Central Pacific Financial Corp. Honolulu CB Bancshares Inc. Honolulu 23-Apr pending 420,772 2.27 19.45 2,170,268 1,903,661 520 22
14 International Bancshares Corp. Laredo, Tex. Local Financial Corp. Oklahoma City Jan. 22 pending 383,426 2.07 12.95 6,578,310 2,881,543 846 52
15 Popular Inc. Hato Rey, Puerto Rico Quaker City Bancorp Inc. Whittier, Calif. 19-Mar pending 369,612 2.41 15.55 36,434,715 1,755,062 248 18
16 Umpqua Holdings Corp. Portland, Ore. Humboldt Bancorp Roseville, Calif. 15-Mar pending 338,242 2.28 9.24 2,963,815 1,044,561 377 22
17 Sky Financial Group Inc. Bowling Green, Ohio Second Bancorp Inc. Warren, Ohio Jan. 8 pending 320,108 2.28 13.52 12,896,494 2,116,761 607 33
18 BancWest Corp. Honolulu USDB Bancorp Stockton, Calif. 27-Apr pending 245,000 2.58 19.52 38,352,215 1,166,767 384 19
19 Bank of Montreal Toronto New Lenox Holding Co.Ill. Feb. 4 pending 228,500 2.97 13.69 31,129,301 997,659 233 7
20 First National Bankshares of Florida Inc. Naples Southern Community Bancorp Orlando 22-Mar pending 226,000 2.96 32.79 3,751,164 899,249 194 16
21 Omega Financial Corp. State College, Pa. Sun Bancorp Inc. Lewisburg, Pa. 20-Apr pending 181,989 2.03 30.32 1,140,166 1,027,836 301 25
22 FBOP Corp. Oak Park, Ill. California Savings Bank San Francisco 8-Mar pending 170,000 1.71 48.01 11,491,675 784,095 196 19
23 South Financial Group Inc. Greenville, S.C. Florida Banks Inc. Jacksonville 17-Mar pending 163,450 3.02 40.01 10,719,401 944,461 243 15
24 South Financial Group Inc. Greenville, S.C. CNB Florida Bancshares Inc. Jacksonville Jan. 21 pending 159,889 2.67 22.91 10,719,401 819,935 265 16
25 Castle Creek Capital LLC Rancho Santa Fe, Calif. Centennial Bank Holdings Inc. Eaton, Colo. 4-Mar pending 155,000 2.63 22.45 NA 708,148 179 12
26 SouthTrust Corp. Birmingham, Ala. FloridaFirst Bancorp Inc. Lakeland Feb. 5 pending 154,242 1.41 25.19 51,924,888 821,190 238 19
27 Provident Bancorp Inc. Montebello, N.Y. Warwick Community Bancorp Inc. N.Y. 16-Mar pending 153,403 1.99 22.71 1,305,958 759,996 144 11
28 MB Financial Inc. Chicago First SecurityFed Financial Inc. Chicago Jan. 12 pending 149,913 1.66 17.34 4,355,093 494,411 95 5
29 TierOne Corp. Lincoln, Neb. United Nebraska Financial Co. Grand Island 31-Mar pending 97,300 1.88 16.99 2,207,868 554,926 211 17
30 Sun Bancorp Inc. Vineland, N.J. Community Bancorp of New Jersey Freehold Feb. 17 pending 83,608 3.16 31.5 2,599,487 427,825 104 9
31 Community Bank System Inc. DeWitt, N.Y. First Heritage Bank Wilkes Barre, Pa. Jan. 6 pending 73,870 2.04 19.41 3,855,397 272,429 51 3
32 Whitney Holding Corp. New Orleans Madison BancShares Inc. Palm Harbor, Fla. 19-Mar pending 65,839 3.66 28.19 7,754,982 204,909 65 6
33 WesBanco Inc. Wheeling, W.Va. Western Ohio Financial Corp. Springfield 1-Apr pending 65,737 1.42 25.23 3,445,006 399,540 93 8
34 Peoples Holding Co. Tupelo, Miss. Renasant Bancshares Inc. Germantown, Tenn. Feb. 17 pending 56,700 2.98 39.09 1,415,214 226,222 51 3
35 First Community Corp. Lexington, S.C. DutchFork Bancshares Inc. Newberry, S.C. 13-Apr pending 50,884 1.49 13.64 215,029 225,585 39 3
36 Texas United Bancshares Inc. La Grange GNB Bancshares Inc. Gainesville, Tex. 29-Apr pending 44,726 2.38 44.82 637,684 229,310 109 7
37 Independent Bank Corp. Ionia, Mich. Midwest Guaranty Bancorp Troy, Mich. Feb. 5 pending 43,000 2.27 18.21 2,358,557 235,211 73 6
38 First Busey Corp. Urbana, Ill. First Capital Bankshares Inc. Peoria, Ill. Jan. 6 pending 41,390 2.72 25.35 1,522,084 218,195 51 5
39 Prosperity Bancshares Inc. Houston Liberty Bancshares Inc. Austin 26-Apr pending 40,985 2.53 19.82 2,398,683 193,210 49 6
40 Leesport Financial Corp. Wyomissing, Pa. Madison Bancshares Group Ltd. Blue Bell, Pa. 16-Apr pending 40,500 2.51 21.14 622,252 208,844 117 10
41 Lincoln Bancorp Plainfield, Ind. First Shares Bancorp Inc. Greenwood, Ind. 11-Mar pending 37,700 2.69 32.22 591,685 175,788 92 8
42 Independent Bank Corp. Rockland, Mass. Falmouth Bancorp Inc. Mass. Jan. 9 pending 36,864 1.92 NA 2,436,755 158,109 39 4
43 First Citizens Banc Corp. Sandusky, Ohio FNB Financial Corp. Shelby, Ohio 4-Mar pending 35,464 1.37 NA 636,423 214,841 78 8
44 Heartland Financial USA Inc. Dubuque, Iowa Rocky Mountain Bancorp. Billings, Mont. Feb. 9 pending 34,500 1.67 18.6 2,018,366 369,617 136 8
45 Cascade Financial Corp. Everett, Wash. Issaquah Bancshares Inc. Wash. Feb. 11 pending 34,422 3.34 20.43 885,220 127,607 31 2
46 Carver Bancorp Inc. New York Independence Federal Savings Bank Washington 15-Mar pending 32,603 1.49 NA 529,571 217,492 65 5
47 Alabama National BanCorp. Birmingham Coquina Bank Ormond Beach, Fla. 31-Mar pending 30,563 2.56 21.11 3,820,112 100,352 25 2
48 Rock Bancshares Inc. Camden, Ark. HCB Bancshares Inc. Camden, Ark. Jan. 14 pending 28,332 0.97 55.36 NA 232,458 73 4
49 Capital City Bank Group Inc. Tallahassee, Fla. Quincy State Bank Fla. Jan. 8 19-Mar 28,100 2.44 10.17 1,846,502 127,168 33 2
50 Northbrook Investments LLC Ill. North Bancshares Inc. Chicago 24-Mar pending 26,407 1.93 70.38 NA 133,746 33 2
51 Metropolitan Bank Group Inc. Chicago Citizens Bank Illinois Berwyn, Ill. 2-Apr pending 26,250 1.92 34.09 1,751,305 187,822 29 3
52 Investor group Ill. Strategic Capital Bancorp Inc. Champaign, Ill. Jan. 3 pending 24,921 1.59 NA NA 187,272 27 1
53 United Community Banks Inc. Blairsville, Ga. Fairbanco Holding Co. Fairburn, Ga. 16-Mar pending 23,632 1.65 15.39 4,068,834 191,660 45 4
54 North Valley Bancorp Redding, Calif. Yolo Community Bank Woodland, Calif. 26-Apr pending 23,408 2.53 18.85 677,693 101,601 35 3
55 Central Bancompany Inc. Jefferson City, Mo. Community Bancs of Oklahoma Inc. Tulsa Feb. 12 pending 22,075 3.19 13.02 6,218,935 144,997 48 3
56 FSB Bancshares Inc. Henderson, Tenn. American City Bancorp Tullahoma, Tenn. 8-Mar pending 22,020 2.38 14.59 133,551 125,830 44 3
57 Citizens Bank of Frostproof Frostproof, Fla. American Banking Corp. Lake Wales, Fla. Jan. 12 pending 21,920 2.07 40.05 113,163 125,216 59 6
58 Capitol Bancorp Ltd. Lansing, Mich. AEA Bancshares Inc. Seattle Jan. 14 pending 20,000 1.43 21.91 2,737,062 147,696 26 1
59 Harrodsburg First Financial Bancorp Inc. Ky. Independence Bancorp New Albany, Ind. Jan. 22 pending 17,136 2.45 21.89 173,845 108,479 51 4
60 Crosstown Holding Co. Blaine, Minn. State Bank of Loretto Minn. 15-Mar pending 17,000 1.85 6.55 204,787 113,371 17 1
61 Farmers Capital Bank Corp. Frankfort, Ky. Citizens Bank Georgetown, Ky. Feb. 13 pending 14,500 1.87 NA 1,318,565 79,163 47 5
62 Summit Bancshares Inc. Fort Worth ANB Financial Corp. Arlington, Tex. Feb. 5 pending 13,779 2.65 30.22 795,478 90,074 45 4
63 First Financial Bankshares Inc. Abilene, Tex. Liberty National Bank Granbury, Tex. 4-Mar pending 12,763 2.17 14.88 2,092,571 60,282 18 1
64 Central Banking Services Inc. St. Cloud, Minn. St. Joseph Bancshares Inc. Minn. Jan. 7 pending 12,500 2.18 8.97 NA 61,763 17 1
65 HGroup Acquisition Co. Dallas Heritage Bancshares Inc. Terrell, Tex. Jan. 14 pending 12,423 1.57 NA NA 51,596 26 1
66 Fairfield County Bank Corp. Norwalk, Conn. Bank of Westport Conn. Feb. 10 pending 11,187 1.7 NA 365,038 71,856 21 3
67 Camco Financial Corp. Cambridge, Ohio London Financial Corp. Ohio 26-Mar pending 10,090 1.81 20.6 1,039,151 56,453 15 1
68 Teche Holding Co. Franklin, La. St. Landry Financial Corp. Opelousas, La. 4-Mar pending 10,061 1.19 49.65 565,755 69,521 22 2
69 Independent Bank Corp. Ionia, Mich. North Bancorp Inc. Gaylord, Mich. 5-Mar pending 8,526 2.14 NA 2,358,557 172,588 68 3
70 Vision Bancshares Inc. Gulf Shores, Ala. BankTrust of Florida Wewahitchka Feb. 27 pending 7,500 1.26 23.36 206,634 43,668 20 3
71 GB+T Bancshares Inc. Gainesville, Ga. Lumpkin County Bank Dahlonega, Ga. Feb. 11 pending 5,346 1.17 NA 944,278 70,888 22 2
72 Larch Bancorp. Inc. Larchwood, Iowa Ellsworth Bancshares Inc. Minn. Feb. 17 pending 4,332 1.21 51.57 91,420 33,174 6 1
73 Pine River Bank Corp. Bayfield, Colo. First National Bank of Lake City Colo. Jan. 14 4-Mar 2,600 1 18.31 87,942 31,764 15 2
74 Investor group Holland, Tex. First National Bank of Holland Tex. Feb. 22 pending 2,500 2.65 35.71 NA 8,850 7 1
75 First Holding Co. Cavalier, N.D. Argyle Financial Services Minn. Feb. 14 pending 2,083 1.55 28.93 80,704 17,413 7 1
76 MFB Corp. Mishawaka, Ind. Sobieski Bank South Bend, Ind. 26-Apr pending 1,027 NA NA 429,559 110,452 31 4
77 Center Financial Corp. Los Angeles Liberty Bank of New York Feb. 20 pending NA NA NA 1,027,366 73,504 29 2
78 Pinnacle Bancorp Inc. Central City, Neb. Financial Services of the Rockies Inc. Colorado Springs 29-Apr pending NA NA NA 3,372,997 79,560 30 4
79 EuroBancshares Inc. Hato Rey, Puerto Rico Bank and Trust of Puerto Rico Hato Rey Feb. 25 pending NA NA NA 1,319,541 576,236 146 6
80 Galva Investment Inc. Ill. Whaples and Farmers State Bank Neponset, Ill. 1-Apr pending NA NA NA 46,492 10,298 3 1
81 American State Bancshares Inc. Great Bend, Kan. First United Holding Co. St. John, Kan. 22-Mar pending NA NA NA 105,897 50,177 17 1
82 Haines Financial Corp. Woodward, Okla. First National Bank of Medford Okla. 31-Mar pending NA NA NA NA 26,455 10 1
83 NI Bancshares Corp. Sycamore, Ill. LNB National Bank Leland, Ill. 23-Apr pending NA NA NA 401,566 80,861 24 3
84 State National Bancshares Lubbock, Tex. Mercantile Bank Texas Fort Worth 26-Apr pending NA NA NA 1,126,840 200,030 72 4
85 Fidelity Financial Corp. Wichita Bridgeview Bank Oklahoma City Jan. 14 Jan. 14 NA NA NA 1,355,897 35,284 14 1
86 First Banks Inc. St. Louis Continental Mortgage Corp. Aurora, Ill. 12-Apr pending NA NA NA 7,106,940 158,554 43 2
87 Happy Bancshares Inc. Canyon, Tex. Sun Banc Corp. Sunray, Tex. Jan. 2 pending NA NA NA 171,478 122,608 46 3
88 Sunflower Banks Inc. Salina, Kan. Citizens Financial Corp. Liberal, Kan. 27-Apr pending NA NA NA 985,161 61,766 26 1
89 National Bankshares Inc. Blacksburg, Va. Community National Bank Pulaski, Va. Feb. 3 pending NA NA NA 708,560 67,780 25 2


*Merger of equals. Note: Subsequent to April 30, Royal Bank of Scotland Group PLC announced it will buy Charter One Financial Inc. for $10.5 billion (May 4); SunTrust Banks Inc. said it will acquire National Commerce Financial Corp. for $7 billion (May 9).
Source: Highline Banking Data Services (877-299-9424), formerly Sheshunoff Information Services
© 2004 American Banker

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