Bank and Thrift Merger Deals
October 19, 2006, 10:08 a.m. EDT 1 Min Read
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Bank and Thrift Merger Deals
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| Published October 19, 2006 | |||||||
| Related Table: Deals with Highest Announced Price to Equity; Price to Net Income | |||||||
| Rank | Buyer | Seller | Date | Price (millions) | Announced price to: | Seller's assets (thousands) | |
| Equity | Net | ||||||
| 1 | National City Corp. Cleveland | Harbor Florida Bancshares Inc. Fort Pierce | July 10 | $1,104.10 | 3.27 | 21.84 | $3,213,758 |
| 2 | National City Corp. Cleveland | Fidelity Bankshares Inc. West Palm Beach, Fla. | July 26 | 1038.4 | 3.53 | 30.47 | 4,234,980 |
| 3 | Royal Bank of Canada Toronto | Flag Financial Corp. Atlanta | Aug. 9 | 456.8 | 2.15 | 22.37 | 1,794,461 |
| 4 | Cullen/Frost Bankers Inc. San Antonio | Summit Bancshares Inc. Fort Worth | July 02 | 364.1 | 4.42 | 28.59 | 1,121,269 |
| 5 | Prosperity Bancshares Inc. Houston | Texas United Bancshares Inc. La Grange | July 18 | 352.6 | 2.41 | 23.36 | 1,630,403 |
| 6 | First Busey Corp. Urbana, Ill. | Main Street Trust Inc. Champaign, Ill. | Sept. 20 | 348.7 | NA | NM | 1,556,144 |
| 7 | Sterling Financial Corp. Spokane | Northern Empire Bancshares Santa Rosa, Calif. | Sept. 17 | 335.1 | 2.87 | 18.32 | 1,328,763 |
| 8 | BMO Financial Group Toronto | Hasten Bancshares Indianapolis | Sept. 27 | 290.0 | 2.21 | 46.65 | 1,258,795 |
| 9 | Lehman Brothers Holdings Inc. New York | Capital Crossing Bank Boston | Sept. 19 | 210.1 | 2.65 | 12.99 | 1,055,947 |
| 10 | Zions Bancorp. Salt Lake City | Stockmen's Bancorp Inc. Kingman, Ariz. | Sept. 8 | 198.6 | 3.27 | 17.29 | 1,202,031 |
| 11 | UCBH Holdings Inc. San Francisco | Summit Bank Corp. Atlanta | Sept. 18 | 176.4 | 3.06 | 22.58 | 656,702 |
| 12 | Park National Corp. Newark, Ohio | Vision Bancshares Inc. Panama City, Fla. | Sept. 14 | 169.6 | 3.27 | 18.61 | 695,726 |
| 13 | IberiaBank Corp. Lafayette, La. | Pulaski Investment Corp. Little Rock | Aug. 9 | 130.0 | 3.25 | 20.54 | 471,631 |
| 14 | NewAlliance Bancshares Inc. New Haven | Westbank Corp. West Springfield, Mass. | July 18 | 116.5 | 2.50 | 24.21 | 821,836 |
| 15 | Conestoga Bancorp Inc. Chester Springs, Pa. | PSB Bancorp Inc. Philadelphia | Aug. 30 | 93.9 | 2.00 | NM | 562,371 |
| 16 | Bancshares of Florida Inc. Naples, Fla. | Old Florida Bankshares Inc. Fort Myers, Fla. | Aug. 28 | 83.4 | 3.15 | 28.37 | 325,973 |
| 17 | IberiaBank Corp. Lafayette, La. | Pocahontas Bancorp Inc. Jonesboro, Ark. | July 26 | 79.0 | 1.54 | 25.34 | 732,944 |
| 18 | Sterling Bancshares Inc. Houston | BOTH Inc. Kerrville, Tex. | July 25 | 72.5 | 3.88 | 17.23 | 314,633 |
| 19 | Dearborn Bancorp Inc. Mich. | Fidelity Financial Corp. of Michigan Birmingham | Sept.14 | 70.5 | 2.42 | 20.38 | 248,109 |
| 20 | Industrial Bank of Taiwan Taipei | Evertrust Bank City of Industry, Calif. | July 17 | 67.0 | 2.66 | 21.44 | 331,058 |
| 21 | United Community Banks Inc. Blairsville, Ga. | Southern Bancorp Inc. Marietta, Ga. | Sept. 5 | 66.5 | 3.55 | 19.99 | 298,569 |
| 22 | PrivateBancorp Inc. Chicago | Piedmont Bancshares Inc. Atlanta | Aug. 2 | 46.6 | 3.31 | 25.17 | 204,472 |
| 23 | Industry Bancshares Inc. Industry, Tex. | Community Bancorp. Inc. Bellville, Tex. | Aug. 16 | 33.0 | 3.52 | 16.41 | 123,769 |
| 24 | Reserve Financial Associates LLC Columbus, Ohio | Business Bank of Florida Corp. Melbourne | Sept. 22 | 32.5 | 3.04 | 18.79 | 125,444 |
| 25 | Cathay General Bancorp Inc. Los Angeles | New Asia Bancorp Inc. Chicago | July 06 | 23.5 | 1.84 | 29.18 | 139,921 |
| 26 | Community Banks Inc. Harrisburg, Pa. | BUCS Financial Corp Owings Mills, Md. | Sept. 5 | 22.6 | 1.96 | 41.38 | 143,704 |
| 27 | Community Banks Inc. Harrisburg, Pa. | East Prospect State Bank East Prospect, Pa. | Sept. 12 | 21.5 | 1.53 | 20.38 | 57,479 |
| 28 | Highlands Bancshares Inc. Dallas | First Jacksboro Bancshares Inc. Tex. | Sept. 15 | 21.0 | 2.43 | 17.92 | 120,832 |
| 29 | Gardiner Savings Institution FSB Maine | First Citizens Bank Presque Isle, Maine | July 26 | 20.8 | 1.66 | 27.22 | 134,892 |
| 30 | Ameris Bancorp Moultrie, Ga. | Islands Bancorp Beaufort, S.C. | Aug. 15 | 18.6 | 2.68 | 28.85 | 69,293 |
| 31 | Plains Bancorp Inc. Dimmitt, Tex. | First National Bank of Lamesa Lamesa, Tex. | Aug. 25 | 18.6 | 1.83 | 20.59 | 115,585 |
| 32 | Atlantic Southern Financial Group Inc. Macon, Ga. | First Community Bank of Georgia Roberta, Ga. | Sept. 15 | 18.0 | 2.38 | 18.28 | 72,924 |
| 33 | Park National Corp. Newark, Ohio | Anderson Bank Co. Cincinnati | Aug. 14 | 17.7 | 2.43 | 23.10 | 70,093 |
| 34 | American Home Mortgage Investment Corp. Melville, N.Y. | Umbrella Bancorp Inc. Summit, Ill. | Aug. 18 | 16.3 | 6.13 | NM | 47,590 |
| 35 | BlackRidge Financial Inc. Fargo, N.D. | Carlos Bancshares Inc. Alexandria, Minn. | July 31 | 16.0 | 1.59 | 11.93 | 95,834 |
| 36 | Olympic Bancorp Inc. Port Orchard, Wash. | MarinerBank Port Townsend, Wash. | July 31 | 16.0 | 2.50 | 28.47 | 48,216 |
| 37 | SouthCrest Financial Group Inc. Fayetteville, Ga. | Maplesville Bancorp Ala. | Aug. 11 | 15.9 | 1.57 | 18.00 | 64,018 |
| 38 | Community Bank System Inc. DeWitt, N.Y. | ONB Corp. Clifton Springs, N.Y. | Aug. 2 | 15.7 | 1.72 | 20.43 | 94,012 |
| 39 | Atlantic Southern Financial Group Inc. Macon, Ga. | Sapelo Bancshares Inc. Darien, Ga. | July 26 | 15.6 | 2.43 | 25.20 | 61,754 |
| 40 | Community Bancorp Las Vegas | Cactus Commerce Bank Glendale, Ariz. | July 20 | 13.3 | 3.11 | NM | 41,407 |
| 41 | Southern National Bancorp of Virginia Inc. Charlottesville | 1st Service Bank McLean, Va. | July 11 | 13.1 | 1.56 | NM | 140,096 |
| 42 | Baldwin Bancshares Inc. Wis. | Gavic Services Inc. Spring Valley, Wis. | July 24 | 12.6 | 1.13 | 24.27 | 52,860 |
| 43 | First Internet Bancorp Indianapolis | Avanti Investment Co. Inc. Indianapolis | Aug. 28 | 12.0 | 1.72 | 17.62 | 64,825 |
| 44 | Oneida Financial Corp. N.Y. | Vernon Bank Corp. N.Y. | Sept. 12 | 11.4 | 1.67 | NM | 61,655 |
| 45 | Sky Financial Group Inc. Bowling Green, Ohio | Wells River Bancorp Inc. Wellsville, Ohio | Aug. 8 | 11.0 | 1.73 | 36.87 | 74,690 |
| 46 | Northstar Financial Group Inc. Bad Axe, Mich. | Valley Financial Corp. Caro, Mich. | Sept. 13 | 10.0 | 1.79 | 242.68 | 76,912 |
| 47 | Bradford Bank MHC Baltimore | Valley Bancorp Inc. Hunt Valley, Md. | July 28 | 9.6 | 1.90 | 31.61 | 49,893 |
| 48 | Ashley Bancstock Co. Crossett, Ark. | First Community Bank of Crawford County Van Buren, Ark. | Aug. 22 | 7.1 | 1.78 | 41.79 | 50,603 |
| 49 | First Marblehead Corp. Boston | Union Bank North Providence, R.I. | July 17 | 6.9 | 1.56 | NM | 39,768 |
| 50 | Coastal Banking Co. Inc. Beaufort, S.C. | Ameris Bancorp Moultrie, Ga. | July 13 | 5.0 | 1.25 | NA | NA |
| 51 | InsCorp Inc. Nashville | Civitas BankGroup Inc. Franklin, Tenn. | Aug. 25 | 4.5 | 1.50 | 18.28 | 81,020 |
| 52 | Orion Bancorp. Inc. Orion Ill. | First Mid-America Bancorp Inc. Annawan, Ill. | Sept. 29 | NA | NA | NA | 35,549 |
| 53 | Petefish, Skiles Bancshares Inc. Virginia, Ill. | Chandlerville Bancshares Inc. Ill. | Aug. 24 | NA | NA | NA | 41,849 |
| 54 | Mutual Federal Savings Bank of Plymouth County Whitman, Mass. | Security Federal Savings Bank Brockton, Mass. | July 12 | NA | NA | NA | 115,556 |
| 55 | Minnwest Corp. Minnetonka, Minn. | Aumanchester Inc. Rochester, Minn. | Aug. 11 | NA | NA | NA | 41,514 |
| 56 | Arvest Bank Group Inc. Bentonville, Ark. | Caney Valley Bancshares Inc. Caney, Kan. | Sept. 27 | NA | NA | NA | 43,018 |
| 57 | Independence Bancshares Inc. Owensboro, Ky. | Community Bancorp of McLean County Kentucky Inc. Island | Aug. 23 | NA | NA | NA | 25,321 |
Source: SNL Financial, Charlottesville, Va. (www.snl.com)
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