Bank and Thrift Merger Deals
July 09, 2004, 10:08 a.m. EDT 1 Min Read
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Bank and Thrift Merger Deals
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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