Bank and Thrift Merger Deals
Published October 08, 2003, 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 Deals
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| Published October 8, 2003 | |||||||
| Related Tables: Top 10 Deals by announced price to equity capital/net income | |||||||
| Buyer | Seller | Date | Sale price | Announced price to: | Assets | ||
| Equity | Net | ||||||
| 1 | PNC Financial Services Group Pittsburgh | United National Bancorp Bridgewater, N.J. | Aug. 21 | $649,121 | 2.39 | 22.34 | $3,031,851 |
| 2 | New Haven Savings Bank Conn. | Connecticut Bancshares Inc. Manchester | July. 16 | 616,884 | 2.29 | 19.65 | 2,618,772 |
| 3 | First Niagara Financial Group Inc. Lockport, N.Y. | Troy Financial Corp. N.Y. | Aug. 11 | 354,941 | 2.14 | 24.3 | 1,247,755 |
| 4 | Texas Regional Bancshares McAllen | Southeast Texas Bancshares Inc. Beaumont | Sept.15 | 226,500 | 2.18 | 18.73 | 960,757 |
| 5 | FleetBoston Financial Corp. Boston | Progress Financial Corp. Blue Bell, Pa. | Aug. 28 | 205,607 | 2.96 | 30.92 | 1,109,882 |
| 6 | Fulton Financial Corp. Lancaster, Pa. | Resource Bankshares Corp. Virginia Beach, Va. | Aug. 25 | 196,673 | 3.31 | 24.7 | 737,109 |
| 7 | Citizens Financial Group Inc. Providence, R.I. | Thistle Group Holdings Co. Philadelphia | Sept.22 | 147,813 | 1.78 | 27.97 | 913,630 |
| 8 | Sterling Financial Corp. Spokane | Klamath First Bancorp Inc. Ore. | July. 15 | 147,293 | 1.17 | 37 | 1,449,887 |
| 9 | UnionBanCal Corp. San Francisco | Business Bancorp San Bernardino, Calif. | Sept.26 | 130,309 | 1.99 | 18.29 | 663,667 |
| 10 | Citizens Financial Group Inc. Providence, R.I. | Community Bancorp Inc. Hudson, Mass. | July. 30 | 116,906 | 2.93 | 20.57 | 451,920 |
| 11 | First Midwest Bancorp Inc. Itasca, Ill. | CoVest Bancshares Inc. Des Plaines, Ill. | Sept.11 | 100,785 | 1.88 | 14.71 | 624,238 |
| 12 | Humboldt Bancorp Roseville, Calif. | California Independent Bancorp Yuba City | Aug. 12 | 83,805 | 2.68 | 18.09 | 362,430 |
| 13 | BOK Financial Corp. Tulsa | Colorado Funding Co. Denver | July. 10 | 81,700 | 3.02 | 14.72 | 317,550 |
| 14 | Southern Community Financial Corp. Winston-Salem, N.C. | Community Bank Pilot Mountain, N.C. | July. 30 | 78,100 | 3.03 | 18.92 | 243,248 |
| 15 | Franklin Bank Corp. Austin | Jacksonville Bancorp Inc. Tex. | Aug. 12 | 73,664 | 1.59 | 10.72 | 446,073 |
| 16 | Provident Bancorp Inc. Montebello, N.Y. | Ellenville National Bank N.Y. | July. 2 | 73,546 | 2.46 | 19.12 | 324,562 |
| 17 | New Haven Savings Bank Conn. | Alliance Bancorp of New England Inc. Vernon, Conn. | July. 16 | 72,073 | 2.46 | 18.96 | 420,821 |
| 18 | Chemical Financial Corp. Midland, Mich. | Caledonia Financial Corp. Mich. | Sept.25 | 55,300 | 2.68 | 15.23 | 206,158 |
| 19 | Banknorth Group Inc. Portland, Maine | First and Ocean BanCorp Newburyport, Mass. | Sept.3 | 50,989 | 2.34 | 23.07 | 255,528 |
| 20 | Home Bancshares Inc. Conway, Ark. | Community Financial Group Inc. Cabot, Ark. | Aug. 5 | 43,000 | 1.61 | 44.7 | 308,880 |
| 21 | Prosperity Bancshares Inc. Houston | MainBancorp Inc. Austin | July. 21 | 40,640 | 1.76 | 24.74 | 206,708 |
| 22 | Sky Financial Group Inc. Bowling Green, Ohio | GLB Bancorp Inc. Mentor, Ohio | July. 16 | 39,878 | 1.31 | 27.63 | 206,713 |
| 23 | CNB Holdings Inc. * Alpharetta, Ga. | First Capital Bancorp Inc.* Norcross, Ga. | Sept.24 | 35,700 | 1.86 | 18.53 | 399,780 |
| 24 | First Commonwealth Financial Corp. Indiana, Pa. | Pittsburgh Financial Corp. Wexford, Pa. | Aug. 8 | 30,783 | 1.25 | 43.91 | 376,450 |
| 25 | Southern Financial Bancorp Inc. Warrenton, Va. | Essex Bancorp Inc. Norfolk, Va. | July. 24 | 28,633 | 1.1 | 9.53 | 327,499 |
| 26 | Boston Private Financial Holdings Boston | First State Bancorp Granada Hills, Calif. | July. 10 | 26,757 | 2.1 | NA | 168,690 |
| 27 | Crews Banking Corp. Wauchula, Fla. | Englewood Bank Fla. | Sept.4 | 26,100 | 2.31 | 21.39 | 151,852 |
| 28 | PremierWest Bancorp Medford, Ore. | Mid Valley Bank Red Bluff, Calif. | Sept.16 | 25,662 | 2.06 | NA | 173,057 |
| 29 | Monarch Community Bancorp Coldwater, Mich. | MSB Financial Inc. Marshall, Mich. | Sept.2 | 25,630 | 1.64 | 14.81 | 103,217 |
| 30 | Northwest Bancorp Inc. Warren, Pa. | Skibo Financial Corp. Carnegie, Pa. | Sept.11 | 22,798 | 2.29 | 79.96 | 157,413 |
| 31 | Kentucky Bancshares Inc. Paris | Kentucky First Bancorp Inc. Cynthiana | July. 8 | 22,239 | 1.55 | 23.53 | 74,515 |
| 32 | First National Bank Holding Co. Scottsdale, Ariz. | Access Anytime BanCorp Inc. Albuquerque | July. 21 | 22,000 | 1.47 | 20.54 | 196,689 |
| 33 | Wintrust Financial Corp. Lake Forest, Ill. | Advantage National Bancorp Inc. Elk Grove, Ill. | July. 2 | 21,510 | 2.06 | 83.68 | 104,333 |
| 34 | Northern States Financial Corp Waukegan, Ill. | Round Lake Bankcorp Inc. Ill. | Sept.11 | 19,800 | 2.1 | 18.68 | 104,233 |
| 35 | South Shore Savings Bank Weymouth, Mass. | Horizon Bank and Trust Co. Braintree, Mass. | July. 21 | 19,561 | 1.54 | 20.26 | 126,898 |
| 36 | Western Sierra Bancorp Cameron Park, Calif. | Auburn Community Bancorp Calif. | Aug. 21 | 18,973 | 2.27 | 15.77 | 84,961 |
| 37 | BancFirst Corp. Oklahoma City | Lincoln National Bancorp. Oklahoma City | July. 30 | 17,762 | 1.69 | NA | 109,437 |
| 38 | Sterling Bancshares Inc. Houston | South Texas Capital Group Inc. San Antonio | Aug. 19 | 17,511 | 3.27 | 15.92 | 77,930 |
| 39 | Community Capital Corp. Greenwood, S.C. | Abbeville Capital Corp S.C. | Aug. 19 | 15,000 | 2.13 | 15.99 | 69,109 |
| 40 | North American Bancshares Sherman, Tex. | Pioneer Bankshares Inc. Fredericksburg, Tex. | July. 24 | 12,697 | 2.1 | 19.65 | 73,391 |
| 41 | Cascade Bancorp Bend, Ore. | Community Bank of Grants Pass Ore. | July. 31 | 11,900 | 2.38 | 19.29 | 47,770 |
| 42 | Southwest Security Inc. Natchez, Miss. | Commercial Bank Woodville, Miss. | Aug. 7 | 11,172 | 1.31 | 14 | 60,579 |
| 43 | Page Bancshares Inc. Liberty, Mo. | Griffin Bancshares Inc. Cameron, Mo. | July. 1 | 11,000 | 1.73 | 6.83 | 78,521 |
| 44 | America Bancshares Inc. Newport, Minn. | PriVest Bank Santa Ana, Calif. | Sept.18 | 10,900 | 2.13 | 71.71 | 79,493 |
| 45 | Wintrust Financial Corp. Lake Forest, Ill. | Village Bancorp Inc. Arlington Hghts, Ill. | Aug. 7 | 9,000 | 1.93 | 24.79 | 71,647 |
| 46 | Investor Group Tex. | Snyder National Bank Tex. | Sept.30 | 8,546 | 1.22 | 12.81 | 105,075 |
| 47 | Tradition Bank* Houston | First National Bank of Bellaire* Houston | July. 18 | 8,087 | 1.15 | 12.37 | 79,739 |
| 48 | First Fontanelle Bancorp. Inc. Iowa | Corn Belt Bancorp. Inc. Anita, Iowa | July. 15 | 7,725 | 1.6 | 14.17 | 47,257 |
| 49 | Investor group Jacksonville, Fla. | First Bank of Jacksonville Fla. | July. 24 | 7,400 | 2.04 | NA | 17,906 |
| 50 | State Financial Services Corp Milwaukee | Hawthorn Corp. Mundelein, Ill. | Sept.15 | 6,400 | 2.71 | NA | 39,245 |
| 51 | First Sleepy Eye Bancorp. Inc. Sioux Falls, S.D. | Nichols Financial Inc. Lilydale, Minn. | July. 3 | 5,414 | 1.49 | 15.88 | 42,718 |
| 52 | Community Capital Bancshares Inc. Albany, Ga. | First Bank of Dothan Ala. | July. 3 | 5,004 | 1.53 | NA | 27,671 |
| 53 | Community Central Bank Corp. Mount Clemens, Mich. | North Oakland Community Bank Rochester Hills, Mich. | July. 9 | 4,380 | 1.42 | NA | 35,466 |
| 54 | Van Orin Bancorp Inc. Ill. | Malden Bancorp Inc. Ill. | Sept.16 | 2,500 | 1.4 | 11.9 | 13,536 |
| 55 | Campbell Hill Bancshares Inc. Ill. | Southwest Illinois Bancshares Inc. Coulterville | July. 24 | 2,313 | 1.2 | 14.02 | 16,087 |
| 56 | Quality Bankshares Inc. Fingal, N.D. | Page Bank Holding Co. N.D. | July. 15 | 890 | 1.73 | 63.57 | 8,935 |
| 57 | Ridgefield Bank Conn. | Fairfield County Savings Bank Norwalk, Conn. | Aug. 6 | NA | NA | NA | 353,587 |
| 58 | Marathon Banking Corp. New York | Interbank of New York | Sept.17 | NA | NA | NA | 276,492 |
| 59 | Adam Corp. Group Bryan, Tex. | Security Bank N.A. Garland, Tex. | Aug. 27 | NA | NA | NA | 177,078 |
| 60 | Capitol Bancorp. Inc. Pierre, S.D. | Arapahoe County Funding Co. Centennial, Colo. | July. 10 | NA | NA | NA | 158,175 |
| 61 | Gainesville Bank and TrustGa. | Southern Heritage Bancorp Inc. Flowery Branch, Ga. | Aug. 29 | NA | NA | NA | 97,895 |
| 62 | Perry Investment Co. Coon Rapids, Iowa | Dallas Investment Co. Coon Rapids, Iowa | Aug. 1 | NA | NA | NA | 73,573 |
| 63 | Investor Group Pa. | Eagle National Bank Upper Darby, Pa. | Sept.5 | NA | NA | NA | 67,523 |
| 64 | First Community Capital Corp. Houston | Grimes County Capital Corp. Houston | Sept.22 | NA | NA | NA | 51,312 |
| 65 | Investor Group Okla. | Bridgeview Bank N.A. Oklahoma City | July. 14 | NA | NA | NA | 35,069 |
| 66 | First National Bancorp Inc. Green Forest, Ark. | Madison Corp. Little Rock | Aug. 1 | NA | NA | NA | 28,452 |
| 67 | Citizens State Bank of Arlington S.D. | First State Bank of Sinai S.D. | Aug. 15 | NA | NA | NA | 17,523 |
*Merger of equals transaction
Source: Sheshunoff Information Services, a division of Thomson Corp
© 2003 American Banker