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Bank and Thrift Merger Deals

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Bank and Thrift Merger Deals

Bank and Thrift Merger Deals
Announced in the second quarter of 2004, dollars in thousands
Published July 9, 2004
Related Table: Top 10 deals by announced price to equity and announced price to net income
Rank Buyer Seller Date Sale price Announced price to: Assets
Equity Net
1 Wachovia Corp. Charlotte SouthTrust Corp. Birmingham, Ala. June 21 $14,266,628 3.04 19.38 $52,672,941
2 Citizens Financial Group Inc. Providence, R.I. Charter One Financial Inc. Cleveland May 04 10,529,597 3.05 18.61 41,278,929
3 SunTrust Banks Inc. Atlanta National Commerce Financial Corp. Memphis May 09 7,025,030 2.45 20.34 23,038,522
4 First Niagara Financial Group Inc. Lockport, N.Y. Hudson River Bancorp Inc. Hudson, N.Y. April 02 621,008 2.08 18.80 2,618,830
5 Associated Banc-Corp. Green Bay, Wis. First Federal Capital Corp. La Crosse, Wis. April 28 613,689 2.12 17.34 3,743,097
6 Central Pacific Financial Corp. Honolulu CB Bancshares Inc. Honolulu April 23 420,772 2.27 15.19 1,873,523
7 BancWest Corp. Honolulu USDB Bancorp Stockton, Calif. April 27 245,000 2.58 19.52 1,166,767
8 Banknorth Group Inc. Portland, Maine BostonFed Bancorp Inc. Burlington, Mass. June 21 195,190 1.92 32.21 1,667,866
9 KeyCorp Cleveland EverTrust Financial Group Inc. Everett, Wash. June 25 194,480 1.95 25.03 770,072
10 Omega Financial Corp. State College, Pa. Sun Bancorp Inc. Lewisburg, Pa. April 20 181,989 2.03 30.32 1,027,836
11 National City Corp. Cleveland Wayne Bancorp Inc. Wooster, Ohio June 04 181,883 1.79 19.03 813,670
12 Southwest Bancorp of Texas Houston Klein Bancshares Inc. Spring, Tex. May 20 165,000 3.58 22.55 571,022
13 MAF Bancorp Inc. Clarendon Hills, Ill. Chesterfield Financial Corp. Chicago June 05 128,454 1.63 56.15 360,899
14 Fulton Financial Corp. Lancaster, Pa. First Washington Financial Corp. Windsor, N.J. June 14 123,411 3.12 23.17 482,612
15 MidCountry Financial Corp. Macon, Ga. FSF Financial Corp. Hutchinson, Minn. May 14 89,173 1.58 16.79 515,804
16 F.N.B. Corp. Hermitage, Pa. Slippery Rock Financial Corp. Pa. May 06 78,943 2.44 40.13 334,104
17 Capital City Bank Group Inc. Tallahassee, Fla. Farmers and Merchants Bank Dublin, Ga. May 13 66,545 2.22 5.86 394,140
18 WesBanco Inc. Wheeling, W.Va. Western Ohio Financial Corp. Springfield April 01 65,737 1.42 25.23 399,540
19 State National Bancshares Lubbock Mercantile Bank Texas Fort Worth April 26 51,285 3.12 25.66 200,030
20 First Community Corp. Lexington, S.C. DutchFork Bancshares Inc. Newberry, S.C. April 13 50,884 1.49 13.64 225,585
21 Monmouth Community Bancorp * Long Branch, N.J. Allaire Community Bank * Sea Girt, N.J. June 30 50301 3.20 27.83 182,020
22 Wintrust Financial Corp. Lake Forest, Ill. Northview Financial Corp. Northfield, Ill. May 10 47,570 2.47 22.99 338,320
23 Columbia Banking System Inc. Tacoma Bank of Astoria Ore. June 07 46,975 3.14 19.36 154,865
24 Texas United Bancshares Inc. La Grange GNB Bancshares Inc. Gainesville, Tex. April 29 44,726 2.38 44.82 229,310
25 Sterling Financial Corp. Lancaster, Pa. Pennsylvania State Banking Co. Camp Hill June 14 44,245 2.72 29.93 191,586
26 Wintrust Financial Corp. Lake Forest, Ill. Town Bankshares Ltd. Delafield, Wis. June 14 41,438 2.28 27.11 216,616
27 Leesport Financial Corp. Wyomissing, Pa. Madison Bancshares Group Ltd. Blue Bell, Pa. April 16 41,366 2.49 21.00 208,844
28 Prosperity Bancshares Inc. Houston Liberty Bancshares Inc. Austin April 26 40,985 2.53 19.82 193,210
29 Boston Private Financial Holdings Encino State Bank Calif. June 15 33,099 2.88 37.04 172,387
30 East West Bancorp Inc. San Marino, Calif. Trust Bancorp Monterey Park, Calif. June 03 32,900 1.87 18.47 229,862
31 Metropolitan Bank Group Inc. Chicago Citizens Bank of Illinois Berwyn April 02 26,250 1.81 34.09 187,822
32 Community Bancorp Inc. Escondido, Calif. Cuyamaca Bank Santee, Calif. June 28 25,883 2.64 32.27 104,028
33 North Valley Bancorp Redding, Calif. Yolo Community Bank Woodland, Calif. April 26 23,408 2.53 18.85 101,601
34 MidSouth Bancorp Inc. Lafayette, La. Lamar Bancshares Inc. Beaumont, Tex. May 27 22,405 2.06 10.84 115,031
35 Prosperity Bancshares Inc. Houston Village Bank and Trust Lakeway, Tex. May 13 20,200 1.92 20.12 108,389
36 BBVA Bancomer Financial Holdings Inc. San Juan, Puerto Rico Valley Bank Moreno Valley, Calif. May 24 16,700 2.08 N/M 83,167
37 Investor group Fla. Liberty Bancorp Longwood, Fla. April 01 15,400 2.24 N/M 68,294
38 ABC Bancorp Moultrie, Ga. Citizens Bancshares Inc. Crawfordville, Fla. May 18 11,750 2.75 N/M 54,810
39 Pinnacle Bancorp Inc. Central City, Neb. Financial Services of the Rockies Inc. Colorado Springs, Colo. April 29 11,200 2.68 16.00 79,560
40 First National Bankshares of Florida Inc. Naples First Bradenton Bank Bradenton , Fla. June 30 8,314 1.71 19.98 54,058
41 First Federal Bank of Louisiana Lake Charles First Allen Parish Bancorp Inc. Oakdale, La. June 17 6,586 1.37 25.04 53,325
42 Parkway Bancorp Inc. Harwood Heights, Ill. United Arizona Bank Cave Creek May 15 5,100 1.83 N/M 25,171
43 First Banks Inc. St. Louis Continental Mortgage Corp. Aurora, Ill. April 12 4,206 1.44 N/M 158,554
44 Porter Bancorp Inc. Shepherdsville, Ky. United Community Bank Glasgow, Ky. April 30 4,000 1.67 N/M 38,230
45 Investor group Tex. Western Dakota Holding Co. Timber Lake, S.D. April 06 2,975 1.48 16.81 16,518
46 Waumandee Bancshares Ltd. Wis. First State Bank Fountain City, Wis. May 10 2,600 1.67 17.57 21,403
47 Platte Valley Financial Service Cos. Inc. Scottsbluff, Neb. North Park Bancshares Inc. Walden, Colo. May 24 1,409 1.25 N/M 12,776
48 MFB Corp. Mishawaka, Ind. Sobieski Bank South Bend, Ind. April 26 1,027 N/M N/M 110,452
49 MidCountry Financial Corp. Macon, Ga. ComBank Inc. Metropolis, Ill. May 01 NA NA NA 136,224
50 Great Western Bancorp. Inc. Omaha Oak Bancorp. Oakland, Iowa May 24 NA NA NA 91,078
51 NI Bancshares Corp. Sycamore, Ill. LNB National Bank Leland, Ill. April 23 NA NA NA 80,861
52 Sunflower Banks Inc. Salina, Kan. Citizens Financial Corp. Liberal, Kan. April 27 NA NA NA 61,766
53 Galva Investment Inc. Ill. Whaples and Farmers State Bank Neponset, Ill. April 01 NA NA NA 10,298
54 State Financial Investments Winfield, Kan. Bank of Commerce Udall, Kan. May 06 NA NA NA 7,856

* Merger of equals transaction

Source: Highline Banking Data Services (877-299-9424)

© 2004 American Banker
M&A