Bank and Thrift Merger Deals Announced in 2011
Published February 14, 2012, 9:32 p.m. EST
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Updated February 14, 2012, 9:01 p.m. EST
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Bank and Thrift Merger Deals Announced in 2011
Bank and Thrift Merger Deals Announced in 2011Dollars in millions | ||||||
|---|---|---|---|---|---|---|
| Rank | Buyer | Target name | Date of announcement | Deal status | Deal value | Price / tangible book |
| 1 | First Illinois Corp. | HPB Holdings Inc | Jan. 12 | Completed; Oct. 1 | $25.0 | 51.60% |
| 2 | Comerica Inc. | Sterling Bancshares Inc. | Jan. 16 | Completed; July 28 | 1,028.9 | 231.96 |
| 3 | People’s United Financial Inc. | Danvers Bancorp Inc. | Jan. 20 | Completed; June 30 | 488.9 | 187.98 |
| 4 | Finlayson Bancshares Inc. | First National Bank of the North | Jan. 20 | Completed; July 27 | 7.1 | 118.76 |
| 5 | Investors Prime Fund LLC | High Desert Bank | Jan. 21 | Pending | NA | NA |
| 6 | Industrial and Commercial Bank of China Ltd. | Bank of East Asia | Jan. 21 | Pending | 140.2 | 162.00 |
| 7 | Southwest Security Inc. | Merchants and Farmers Bank | Jan. 24 | Completed; Aug. 26 | NA | NA |
| 8 | Susquehanna Bancshares Inc. | Abington Bancorp Inc. | Jan. 26 | Completed; Oct. 1 | 273.8 | 129.23 |
| 9 | Bear State Financial Holdings LLC | First Federal Bancshares of Arkansas Inc. | Jan. 27 | Completed; May 3 | NA | NA |
| 10 | Snyder Group | NexTier Inc. | Jan. 31 | Completed; April 19 | NA | NA |
| 11 | Investor group | Northside Bank | Feb. 3 | Pending | NA | NA |
| 12 | GNB Financial Services Inc. | Herndon National Bank | Feb. 4 | Completed; Aug. 6 | 8.3 | 100.74 |
| 13 | Bridge Bancorp Inc. | Hamptons State Bank | Feb. 8 | Completed; May 27 | 6.3 | 136.18 |
| 14 | CBM Florida Holding Co. | First Community Bank of America | Feb. 10 | Completed; May 31 | 10.0 | 37.02 |
| 15 | Randal S. Shannon (private investor) | Amsterdam Bancshares Inc. | Feb. 10 | Pending | 1.1 | 61.42 |
| 16 | VB Texas Inc. | Founders Bank SSB | Feb. 14 | Completed; July 1 | NA | NA |
| 17 | Ocean Shore Holding Co. | CBHC Financialcorp Inc. | Feb. 15 | Completed; Aug. 1 | 11.9 | 130.00 |
| 18 | Sequatchie Valley Bancshares Inc. | Citizens Bank of Spencer | Feb. 17 | Completed; July 16 | 1.1 | 63.72 |
| 19 | Iberiabank Corp. | Omni Bancshares Inc. | Feb. 21 | Completed; May 31 | 40.0 | 121.30 |
| 20 | Citizens National Corp. | First National Bank of Friend | Feb. 21 | Completed; May 4 | 5.5 | 138.99 |
| 21 | Investor group | Kansas State Bank | Feb. 22 | Pending | NA | NA |
| 22 | Investor group | North Alabama Bancshares Inc. | Feb. 23 | Completed; May 18 | NA | NA |
| 23 | Piedmont Community Bank Holdings Inc. | Crescent Financial Corp. | Feb. 23 | Completed; Dec. 27 | 30.6 | 44.07 |
| 24 | RBB Bancorp | First Asian Bank | Feb. 24 | Completed; July 8 | NA | NA |
| 25 | Investor group | Bank of Feather River | March 1 | Completed; Oct. 4 | NA | NA |
| 26 | Collin Bank | Bank of Las Colinas | March 3 | Terminated; May 26 | NA | NA |
| 27 | Opus Bank | Cascade Financial Corp. | March 3 | Completed; June 30 | 21.8 | 37.38 |
| 28 | HCBF Holding Co. Inc. | Grand Bankshares Inc. | March 4 | Pending | 8.4 | 41.99 |
| 29 | Farmers State Bancshares Inc. | Farmers State Investment Co. | March 7 | Completed; Nov. 7 | 6.6 | 144.32 |
| 30 | Iberiabank Corp. | Cameron Bancshares Inc. | March 10 | Completed; May 31 | 134.8 | 174.25 |
| 31 | Grandpoint Capital Inc. | Orange Community Bancorp | March 10 | Completed; Aug. 30 | 32.1 | 143.90 |
| 32 | Investor group | United Community Banks Inc. | March 16 | Completed; March 31 | NA | NA |
| 33 | MB Acquisition Bancorp | MBank | March 21 | Pending | NA | NA |
| 34 | Embarcadero Bank | Coronado First Bank | March 22 | Completed; Nov. 16 | 9.3 | 99.72 |
| 35 | Goodenow Bancorp. | Farmers State Bank of Sherburn | March 24 | Completed; June 2 | 2.6 | 108.33 |
| 36 | United Federal Credit Union | Griffith Savings Bank | March 24 | Completed; Jan. 1 ’12 | 0.3 | NA |
| 37 | Park Sterling Corp. | Community Capital Corp. | March 30 | Completed; Nov. 1 | 32.3 | 70.03 |
| 38 | Home Bancorp Inc. | GS Financial Corp. | March 30 | Completed; July 15 | 26.4 | 95.40 |
| 39 | Alton Bancshares Inc. | First Community Bank of the Ozarks | March 30 | Renegotiating | 3.0 | 60.13 |
| 40 | First Bank Lubbock Bancshares Inc. | Jefferson Bank | April 3 | Completed; July 28 | 11.0 | 92.14 |
| 41 | BCB Bancorp Inc. | Allegiance Community Bank | April 4 | Completed; Oct. 14 | 6.8 | 97.16 |
| 42 | TAB Capital Corp. | Bank Arlington | April 4 | Terminated; Sep. 13 | 6.8 | 161.17 |
| 43 | Investor group | Intermountain Community Bancorp | April 6 | Pending | NA | NA |
| 44 | BancFirst Corp. | FBC Financial Corp. | April 6 | Completed; July 12 | 25.8 | 102.31 |
| 45 | Banco do Brasil S.A. | EuroBank | April 6 | Pending | 6.0 | 109.03 |
| 46 | Bendena Bancshares Inc. | Farmers State Bank of Highland Kansas | April 6 | Completed; Aug. 1 | 1.3 | 62.95 |
| 47 | Ranjeet Singh Sidhu (private investor) | Hometown Community Bancshares Inc. | April 8 | Pending | NA | NA |
| 48 | Bedford Bancorp Inc. | Valley Bank and Trust | April 13 | Completed; Sep. 30 | NA | NA |
| 49 | Investor group | Community FSB Holding Co. | April 14 | Completed; Sep. 8 | NA | NA |
| 50 | Investor group | First Mariner Bancorp | April 19 | Pending | NA | NA |
| 51 | Brookline Bancorp Inc. | Bancorp Rhode Island Inc. | April 19 | Completed; Jan. 1 ’12 | 233.7 | 200.73 |
| 52 | Saint Joseph Bancshares Acquisitions Inc. | Financial Bancshares Co. | April 22 | Completed; June 29 | NA | NA |
| 53 | Community First Bancorp. | Bank of Westminster | April 25 | Completed; Nov. 30 | NA | NA |
| 54 | Investor group | Pan American Bank | April 28 | Pending | NA | NA |
| 55 | Valley National Bancorp | State Bancorp Inc. | April 28 | Completed; Jan. 1 ’12 | 266.9 | 169.51 |
| 56 | Sterne Agee Group Inc. | Sum Financial Corp. | May 2 | Pending | NA | NA |
| 57 | Bancorp Financial Inc. | DuPage National Bank | May 3 | Terminated; Sep. 8 | NA | NA |
| 58 | North American Financial Holdings Inc. | Green Bankshares Inc. | May 5 | Completed; Sep. 7 | 9.9 | 8.00 |
| 59 | Investor group | Legacy Bank of Florida | May 9 | Pending | NA | NA |
| 60 | Talmer Bancorp Inc. | Lake Shore Wisconsin Corp. | May 11 | Completed; Dec. 14 | NA | NA |
| 61 | Bay Commercial Bank | Global Bancorp | May 12 | Completed; Oct. 18 | 12.0 | 74.52 |
| 62 | Carlile Bancshares Inc. | Bank at Broadmoor | May 13 | Completed; Aug. 24 | 22.5 | 153.74 |
| 63 | Adam Bank Group Inc. | Brazos Valley Bank | May 18 | Pending | 13.5 | 114.32 |
| 64 | Golden Oak Bancshares Inc. | Park Bank | May 18 | Completed; Oct. 31 | 6.3 | 122.70 |
| 65 | Investor group | Purdum State Bank | May 19 | Completed; Aug. 5 | NA | NA |
| 66 | First General Bank | Golden Security Bancorp | May 19 | Completed; Aug. 23 | 4.4 | 47.01 |
| 67 | CenterState Banks Inc. | Federal Trust Corp. | May 22 | Completed; Nov. 1 | NA | NA |
| 68 | SKBHC Holdings LLC | Bank of the Northwest | May 24 | Completed; July 28 | 16.8 | 110.67 |
| 69 | Round Top Bancshares Inc. | Eagle Bank | May 25 | Completed; Aug. 23 | 3.5 | 190.63 |
| 70 | Investor group | First BanCorp. | May 26 | Completed; Oct. 7 | NA | NA |
| 71 | Investar Bank | South Louisiana Business Bank | June 1 | Completed; Oct. 1 | NA | NA |
| 72 | BankUnited Inc. | Herald National Bank | June 2 | Pending | 70.0 | 137.05 |
| 73 | First PacTrust Bancorp Inc. | Gateway Bancorp | June 3 | Pending | 17.0 | 57.95 |
| 74 | RBB Bancorp | Ventura County Business Bank | June 6 | Completed; Sep. 23 | NA | NA |
| 75 | Opus Bank | RMG Capital Corp. | June 6 | Completed; Oct. 31 | 49.2 | 115.78 |
| 76 | SKBHC Holdings LLC | Sunrise Bank | June 9 | Completed; July 28 | 18.5 | 91.93 |
| 77 | Community Bank Partners Inc. | Bank of Choice | June 14 | Terminated; July 22 | NA | NA |
| 78 | F.N.B. Corp. | Parkvale Financial Corp. | June 15 | Completed; Jan. 1 ’12 | 163.0 | 169.76 |
| 79 | Capital One Financial Corp. | ING Bank FSB | June 16 | Pending | 9,000.0 | 102.21 |
| 80 | First York Ban Corp. | First State Bank | June 17 | Completed; Oct. 5 | NA | NA |
| 81 | First Carolina Financial Services Inc. | First Carolina State Bank | June 17 | Pending | 1.4 | 63.65 |
| 82 | First Carolina Financial Services Inc. | Pisgah Community Bank | June 17 | Pending | 0.4 | 39.02 |
| 83 | PNC Financial Services Group Inc. | RBC Bank USA | June 19 | Pending | 3,450.0 | 97.29 |
| 84 | Susquehanna Bancshares Inc. | Tower Bancorp Inc. | June 20 | Pending | 342.1 | 148.94 |
| 85 | American State Bancshares Inc. | Rose Hill Bancorp. Inc. | June 22 | Completed; Nov. 8 | 35.3 | 177.76 |
| 86 | SCJ Inc. | Santa Lucia Bancorp | June 24 | Completed; Oct. 21 | 3.5 | 48.97 |
| 87 | Investor group | First Security Bank of Nevada | June 27 | Completed; Aug. 3 | NA | NA |
| 88 | Starion Bancorp. | Security State Bank | June 29 | Completed; Oct. 8 | NA | NA |
| 89 | First Foundation Inc. | Desert Commercial Bank | June 29 | Pending | 20.1 | 126.01 |
| 90 | Bank of Kentucky Financial Corp. | United Kentucky Bank of Pendleton County | June 30 | Completed; Oct. 28 | NA | NA |
| 91 | CBM Florida Holding Co. | Old Harbor Bank | June 30 | Terminated; Aug. 23 | NA | NA |
| 92 | Investor group | ECB Bancorp Inc. | June 30 | Renegotiating | NA | NA |
| 93 | Salem Five Bancorp | Stoneham Savings Bank | July 6 | Pending | NA | NA |
| 94 | FirstAtlantic Financial Holdings Inc. | CenterBank of Jacksonville | July 20 | Completed; Dec. 16 | NA | NA |
| 95 | Tristar Bancshares Inc. | Heritage Bank and Trust | July 21 | Terminated; Nov. 1 | NA | NA |
| 96 | USAmeriBancorp Inc. | Aliant Financial Corp. | July 22 | Completed; Dec. 30 | NA | NA |
| 97 | Security Star Bancshares Inc. | Bank of Texas Bancshares Inc. | July 22 | Completed; Oct. 28 | 5.1 | 112.86 |
| 98 | Wintrust Financial Corp. | Elgin State Bancorp Inc. | July 25 | Completed; Sep. 30 | 15.5 | 92.19 |
| 99 | Eagle Bancorp Inc. | Alliance Bankshares Corp. | July 27 | Terminated; Nov. 28 | 31.2 | 87.29 |
| 100 | First Berne Financial Corp. | AmericanTrust Federal Savings Bank MHC | July 28 | Pending | NA | NA |
| 101 | Thomas J. Throgmorton (private investor) | Bellerive Bank | July 28 | Pending | NA | NA |
| 102 | Tennessee Commerce Bancorp Inc. | Farmers Bank of Lynchburg | July 28 | Pending | NA | NA |
| 103 | Tennessee Commerce Bancorp Inc. | Peoples State Bank of Commerce | July 28 | Pending | NA | NA |
| 104 | Merchants and Marine Bancorp Inc. | Heritage First Bank | Aug. 3 | Completed; Dec. 9 | NA | NA |
| 105 | Investor group | New OMNI Bank | Aug. 3 | Pending | 10.0 | 71.39 |
| 106 | Mountain Iron Holdings LLC | Timberland Bancorp | Aug. 4 | Pending | NA | NA |
| 107 | WCM Holdings Inc. | Bank of Las Colinas | Aug. 8 | Completed; Oct. 27 | NA | NA |
| 108 | Community Bank Partners Inc. | First National Bancshares Inc. | Aug. 11 | Pending | 4.6 | 59.47 |
| 109 | Investor group | First Bells Bankshares Inc. | Aug. 12 | Pending | 5.9 | 113.82 |
| 110 | Cedar Bancorp Inc. | Dix Bancshares Inc. | Aug. 16 | Completed; Nov. 5 | NA | NA |
| 111 | Investors Bancorp Inc. MHC | BFS Bancorp MHC | Aug. 16 | Completed; Jan. 6 ‘12 | 10.3 | 25.30 |
| 112 | NHI Financial Services Partners LLC | Mountain View Bank of Commerce | Aug. 16 | Pending | 4.2 | 111.86 |
| 113 | Guido E. Hinojosa Cardoso (private investor) | Sunrise Bank | Aug. 18 | Pending | NA | NA |
| 114 | Winding Creek Holdings LLC | Bank of Maumee | Aug. 19 | Pending | 1.1 | 75.26 |
| 115 | Midwest Bancshares Inc. | Dakota Heritage State Bank | Aug. 22 | Pending | NA | NA |
| 116 | Prime Banc Corp. | Red Bud Bancorp Inc. | Aug. 25 | Completed; Jan. 14 ‘12 | NA | NA |
| 117 | Rockwall Bancshares Inc. | Northern Bancshares Inc. | Aug. 25 | Pending | 9.2 | 125.46 |
| 118 | Haverhill Bank | Economy Co-operative Bank | Aug. 29 | Completed; Jan. 3 ‘12 | NA | NA |
| 119 | MidSouth Bancorp Inc. | First Louisiana National Bank | Aug. 29 | Completed; Dec. 1 | 19.1 | 159.07 |
| 120 | Equity Bancshares Inc. | University National Bank of Lawrence | Aug. 30 | Terminated; Dec. 6 | NA | NA |
| 121 | First PacTrust Bancorp Inc. | Beach Business Bank | Aug. 30 | Pending | 37.1 | 100.08 |
| 122 | Grandpoint Capital Inc. | Regents Bancshares Inc. | Sep. 2 | Pending | NA | NA |
| 123 | Investor group | Broward Financial Holdings Inc. | Sep. 2 | Pending | NA | NA |
| 124 | Goering Management Co. LLC | Home State Bancshares Inc. | Sep. 8 | Completed; Dec. 15 | 18.5 | 153.38 |
| 125 | BNC Bancorp | Regent Bank | Sep. 8 | Completed; Dec. 31 | 9.8 | 123.54 |
| 126 | SKBHC Holdings LLC | Viking Financial Services Corp. | Sep. 8 | Completed; Nov. 30 | 7.2 | 67.93 |
| 127 | Continental Community Bancorp. Inc. | Polk County Bank | Sep. 9 | Terminated; Nov. 18 | NA | NA |
| 128 | First Bankshares of Las Animas Inc. | First National Bank of Ordway | Sep. 9 | Completed; Jan. 14 ‘12 | NA | NA |
| 129 | Happy Bancshares Inc. | Signature Bancshares Inc. | Sep. 12 | Completed; Jan. 1 ‘12 | NA | NA |
| 130 | South Adams Savings Bank | Adams Co-operative Bank | Sep. 12 | Pending | NA | NA |
| 131 | Mt. Washington Savings and Loan | Cottage Savings Bank | Sep. 12 | Pending | 8.9 | 125.08 |
| 132 | Prosperity Bancshares Inc. | Texas Bankers Inc. | Sep. 13 | Completed; Jan. 1 ‘12 | 11.1 | 132.42 |
| 133 | S&T Bancorp Inc. | Mainline Bancorp Inc. | Sep. 14 | Pending | 21.4 | 99.94 |
| 134 | AltaPacific Bancorp | Stellar Business Bank | Sep. 14 | Pending | 17.4 | 98.87 |
| 135 | ISB Bancorp Inc. | Tonica Bancorp Inc. | Sep. 21 | Pending | NA | NA |
| 136 | First NBC Bank Holding Co. | Central Progressive Bank | Sep. 27 | Terminated; Nov. 18 | 0.9 | 11.16 |
| 137 | Inspire Bancshares Inc. | Community State Bank | Sep. 30 | Pending | NA | NA |
| 138 | Piedmont Community Bank Holdings Inc. | VantageSouth Bank | Oct. 5 | Pending | 3.7 | 106.12 |
| 139 | First Financial Corp. | Freestar Bank | Oct. 10 | Completed; Dec. 30 | 47.0 | 164.99 |
| 140 | ATBancorp | United American Bank | Oct. 11 | Completed; Nov. 1 | NA | NA |
| 141 | Bitterroot Holding Co. | Ravalli County Bankshares Inc. | Oct. 12 | Completed; Jan. 1 ‘12 | 18.1 | 88.78 |
| 142 | Finlayson Bancshares Inc. | State Bank of Lucan | Oct. 20 | Completed; Dec. 30 | NA | NA |
| 143 | Bluechip Bancshares LLC | Elmore City Bancshares Inc. | Oct. 21 | Pending | NA | NA |
| 144 | 1st United Bancorp Inc. | Anderen Financial Inc. | Oct. 24 | Pending | 36.7 | 94.00 |
| 145 | Berkshire Hills Bancorp Inc. | Connecticut Bank and Trust Co. | Oct. 25 | Pending | 30.0 | 116.07 |
| 146 | Cornerstone Financial Services Group Inc. | Hedrick Savings Bank | Oct. 27 | Completed; Dec. 17 | NA | NA |
| 147 | Investor group | Exchange Financial Inc. | Oct. 31 | Pending | NA | NA |
| 148 | BB&T Corp. | BankAtlantic | Nov. 1 | Pending | NA | NA |
| 149 | Kentucky First Federal Bancorp MHC | CKF Bancorp Inc. | Nov. 3 | Pending | 10.5 | 80.85 |
| 150 | Sterling Financial Corp. | First Independent Bank | Nov. 6 | Pending | 37.6 | NA |
| 151 | Kensington Bancorp. Inc. | State Bank of Cokato | Nov. 9 | Pending | NA | NA |
| 152 | City Holding Co. | Virginia Savings Bancorp Inc. | Nov. 14 | Pending | 13.4 | 110.78 |
| 153 | NBT Bancorp Inc. | Hampshire First Bank | Nov. 16 | Pending | 45.2 | 155.13 |
| 154 | Home BancShares Inc. | Vision Bank | Nov. 16 | Pending | 27.9 | NA |
| 155 | Elkhart Financial Corp. | First National Bank of Elkhart | Nov. 17 | Pending | 6.9 | 86.26 |
| 156 | SCJ Inc. | Manhattan Bancorp | Nov. 21 | Pending | NA | NA |
| 157 | Trustmark Corp. | Bay Bank and Trust Co. | Nov. 30 | Pending | 22.0 | 85.27 |
| 158 | Beneficial Mutual Bancorp Inc. MHC | SE Financial Corp. | Dec. 5 | Pending | 32.5 | 117.00 |
| 159 | River Valley Bancorp | Dupont State Bank | Dec. 5 | Pending | 6.3 | 82.07 |
| 160 | CIC Bancshares Inc. | Millennium Bancorp Inc. | Dec. 8 | Pending | NA | NA |
| 161 | ViewPoint Financial Group Inc. | Highlands Bancshares Inc. | Dec. 8 | Pending | 71.0 | 119.62 |
| 162 | California United Bank | Premier Commercial Bancorp | Dec. 8 | Pending | 38.1 | 92.42 |
| 163 | Prosperity Bancshares Inc. | East Texas Financial Services Inc. | Dec. 9 | Pending | 20.4 | 112.38 |
| 164 | First Farmers Financial Corp. | First Citizens of Paris Inc. | Dec. 14 | Pending | 16.9 | NA |
| 165 | SCBT Financial Corp. | Peoples Bancorp. Inc. | Dec. 19 | Pending | 41.4 | 71.06 |
| 166 | Sandy Spring Bancorp Inc. | CommerceFirst Bancorp Inc. | Dec. 20 | Pending | 25.4 | 106.73 |
| 167 | ESSA Bancorp Inc. | First Star Bancorp Inc. | Dec. 21 | Pending | 24.7 | 89.92 |
| 168 | BNC Bancorp | KeySource Financial Inc. | Dec. 21 | Pending | 12.2 | 60.29 |
| 169 | Koss-Winn Bancshares Inc. | State Bank of Bricelyn | Dec. 22 | Pending | NA | NA |
| 170 | CBM Florida Holding Co. | Palm Bank | Dec. 26 | Pending | NA | NA |
| 171 | General Electric Capital Corp. | Depository business of MetLife Bank | Dec. 27 | Pending | NA | NA |
| 172 | Independent Bank Group Inc. | I Bank Texas SSB | Dec. 28 | Pending | NA | NA |
| 173 | Perham State Bancshares Inc. | Farmers State Bank of Dent | Dec. 29 | Pending | NA | NA |
Note: Based on value of deal at announcement. Includes whole bank and thrift deals from Jan. 1, 2011, through Dec. 31, 2011. Includes terminated deals. Data as of Jan. 20, 2012.
Source: SNL Financial, Charlottesville, Va.
© 2012 American Banker