Bank and Thrift Merger Deals Announced in the First Half of 2008
Published August 19, 2008, 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 Announced in the First Half of 2008
Bank and Thrift Merger Deals Announced in the First Half of 2008Ranked by price | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Rank | Buyer | Seller | Announced | Completed (or status) | Price (millions) | Price to: | Buyer's assets (000) | Seller's | ||
| Equity | | Assets (000) | Branches | |||||||
| 1 | Bank of America Corp. Charlotte | Countrywide Financial Corp. Calabasas, Calif. | Jan. 11 | July 1 | $4,145.3 | 0.27 | 12.19 | $1,578,763,000 | $209,236,465 | 2 |
| 2 | Caja de Ahorros y Monte de Piedad de Madrid | City National Bancshares Inc. Miami | April 8 | Pending | 927.0 | 3.33 | 25.08 | NA | 2,761,338 | 21 |
| 3 | Eastern Bank Corp. Boston | MASSBANK Corp. Reading, Mass. | March 10 | Pending | 171.9 | 1.58 | 22.23 | 6,797,403 | 801,799 | 15 |
| 4 | CapitalSource Inc. Chevy Chase, Md. | Fremont General Corp. Brea, Calif. | April 13 | Pending | 170.0 | NA | NA | NA | NA | 22 |
| 5 | Valley National Bancorp Wayne, N.J. | Greater Community Bancorp Totowa, N.J. | March 19 | July 1 | 167.2 | 2.31 | 18.88 | 12,748,959 | 975,990 | 17 |
| 6 | Whitney Holding Corp. New Orleans | Parish National Corp. Covington, La. | June 9 | Pending | 165.0 | 2.65 | 17.76 | 10,781,912 | 762,975 | 17 |
| 7 | Harleysville National Corp. Pa. | Willow Financial Bancorp Inc. Wayne, Pa. | May 20 | Pending | 161.5 | 0.81 | 27.69 | 3,894,019 | 1,568,858 | 29 |
| 8 | First Citizens Bancorp. Inc. Columbia, S.C. | Community Bankshares Inc. Orangeburg, S.C. | June 25 | Pending | 95.8 | 1.76 | 35.93 | 6,404,701 | 584,613 | 11 |
| 9 | First Place Financial Corp. Warren, Ohio | Camco Financial Corp. Cambridge, Ohio | May 7 | Pending | 93.7 | 1.08 | 47.01 | 3,288,984 | 1,032,217 | 23 |
| 10 | F.N.B. Corp. Hermitage, Pa. | Iron and Glass Bancorp Inc. Pittsburgh | Feb. 14 | Pending | 87.8 | 2.31 | 24.29 | 6,088,021 | 300,364 | 8 |
| 11 | Prosperity Bancshares Inc. Houston | 1st Choice Bancorp Inc. Houston | Feb. 7 | June 1 | 66.7 | 2.54 | 14.65 | 6,375,834 | 302,965 | 2 |
| 12 | Hampton Roads Bankshares Inc. Norfolk, Va. | Shore Financial Corp. Onley, Va. | Jan. 8 | May 30 | 55.8 | 2.03 | 20.13 | 544,225 | 269,119 | 8 |
| 13 | MutualFirst Financial Inc. Muncie, Ind. | MFB Corp. Mishawaka, Ind. | Jan. 7 | Pending | 52.8 | 1.29 | 16.35 | 966,789 | 510,448 | 10 |
| 14 | Northstar Financial Group Inc. Bad Axe, Mich. | Capitol Bancorp Ltd. Lansing, Mich. | March 31 | Pending | 52.0 | 1.37 | N.M. | 235,448 | 421,059 | 4 |
| 15 | Pinnacle Bancorp Inc. Central City, Neb. | First Azle Bancshares Inc. Tex. | May 23 | Pending | 47.3 | 2.76 | 18.12 | 4,689,757 | 202,300 | 6 |
| 16 | First Citizens Bancorp. Inc. Columbia, S.C. | Merchants and Farmers Bank Comer, Ga. | March 4 | June 1 | 36.8 | 1.96 | 12.34 | 6,079,228 | 142,314 | 6 |
| 17 | MainSource Financial Group Inc. Greensburg, Ind. | 1st Independence Financial Group Inc. Louisville | Feb. 26 | Pending | 36.1 | 0.90 | N.M. | 2,536,437 | 352,707 | 8 |
| 18 | Robertson Holding Co. LP Harrogate, Tenn. | Union National Bancorp of Barbourville Inc. Ky. | March 14 | Pending | 36.0 | 2.05 | 52.94 | 443,592 | 203,271 | 5 |
| 19 | Bank Iowa Corp. West Des Moines, Iowa | Hansen Bancorp. Lawler, Iowa | Jan. 30 | April 7 | 30.8 | 1.55 | 31.96 | 749,654 | 194,072 | 4 |
| 20 | FBOP Corp. Oak Park, Ill. | PFF Bancorp Inc. Rancho Cucamonga, Calif. | June 13 | Pending | 30.5 | 0.25 | N.M. | 16,388,722 | 4,102,452 | 38 |
| 21 | Jacksonville Bancorp Inc. Fla. | Heritage Bancshares Inc. Orange Park, Fla. | Jan. 28 | Terminated | 25.9 | 1.76 | 17.9 | 391,962 | 161,375 | 2 |
| 22 | Rurban Financial Corp. Defiance, Ohio | NBM Bancorp Inc. Montpelier, Ohio | May 22 | Pending | 25.0 | 1.38 | 27.65 | 571,733 | 109,193 | 5 |
| 23 | First State Bancorp. Inc. | Lamoine Bancorp Inc. La Harpe, Ill. | March 13 | Pending | 23.8 | 1.52 | 16.63 | NA | 181,035 | 7 |
| 24 | Central Valley Community Bancorp Fresno | Service 1st Bancorp Tracy, Calif. | May 28 | Pending | 23.4 | 1.33 | 61.26 | 495,561 | 243,571 | 3 |
| 25 | First Clover Leaf Financial Corp. Edwardsville, Ill. | Partners Financial Holdings Inc. Glen Carbon, Ill. | April 30 | Pending | 22.3 | 1.92 | 34.68 | 413,252 | 151,260 | 1 |
| 26 | Village Bank and Trust Financial Corp. Midlothian, Va. | River City Bank Mechanicsville, Va. | March 9 | Pending | 20.3 | 1.31 | N.M. | 390,152 | 121,894 | 3 |
| 27 | Liberty Financial Services Inc. Sioux City, Iowa | Haugo Bancshares Inc. Sioux Falls, S.D. | March 14 | June 16 | 20.0 | 2.55 | 32.35 | 86,713 | 75,500 | 5 |
| 28 | Frandsen Financial Corp. Arden Hills, Minn. | Anderson Financial Group Inc. Wayzata, Minn. | March 13 | May 22 | 17.6 | 3.95 | 44.35 | 1,164,035 | 136,815 | 4 |
| 29 | Investor Group | Starbanc Holding Co. Fort Worth | March 6 | Pending | 17.0 | 2.30 | 21.22 | NA | 73,422 | 2 |
| 30 | Central Bancompany Inc. Jefferson City, Mo. | Holden Bankshares Inc. Holden, Mo. | March 31 | Pending | 16.2 | 1.75 | 24.03 | 8,501,816 | 99,167 | 5 |
| 31 | Whitaker Bank Corp. of Kentucky Lexington | State Financial Services Inc. Harrodsburg, Ky. | March 25 | July 1 | 16.0 | 1.57 | 48.48 | 1,682,446 | 107,039 | 5 |
| 32 | Stockmens Financial Corp. Rapid City, S.D. | Homestead Financial Corp. Beatrice, Neb. | April 21 | Pending | 15.4 | 1.48 | 67.13 | 518,940 | 178,361 | 8 |
| 33 | First Financial Service Corp. Elizabethtown, Ky. | FSB Bancshares Inc. Lanesville, Ind. | March 19 | June 25 | 14.0 | 1.41 | 22.58 | 872,691 | 62,443 | 4 |
| 34 | Reliable Community Bancshares Inc. Perryville, Mo. | Countryside Bancshares Inc. Republic, Mo. | Jan. 19 | Pending | 13.0 | 1.97 | 26.24 | 543,314 | 97,359 | 2 |
| 35 | Savings Bank of Maine Gardiner | Rivergreen Bank Kennebunk, Maine | April 24 | Pending | 13.0 | 1.86 | N.M. | 939,048 | 108,494 | 3 |
| 36 | Summit Financial Group Inc. Moorefield, W.Va. | Greater Atlantic Financial Corp. Reston, Va. | June 9 | Pending | 12.1 | 3.69 | N.M. | 1,465,110 | 230,420 | 5 |
| 37 | Hatton Bancshares Inc. Hatton, N.D. | Mahnomen Bancshares Inc. Mahnomen, Minn. | Feb. 14 | Pending | 11.6 | 2.16 | 24.02 | 24,625 | 71,355 | 1 |
| 38 | Passumpsic Bancorp St. Johnsbury, Vt. | Lancaster National Bank Lancaster, N.H. | Feb. 27 | Pending | 11.5 | 2.00 | N.M. | 502,968 | 54,786 | 3 |
| 39 | NOVA Financial Holdings Inc. Berwyn, Pa. | Pennsylvania Business Bank Philadelphia | April 17 | Pending | 11.1 | 1.37 | N.M. | 498,659 | 121,029 | 4 |
| 40 | First Arkansas Bancshares Inc. Jacksonville | M&P Community Bancshares Inc. Newport, Ark. | May 30 | Pending | 9.7 | 1.92 | 19.09 | 486,844 | 63,045 | 4 |
| 41 | First Graham Bancorp Inc. Tex. | Surety Capital Corp. Fort Worth | Feb. 7 | April 18 | 8.7 | N.M. | N.M. | 183,240 | 36,651 | 1 |
| 42 | Equity Bancshares Inc. Andover, Kan. | Downing Partnership LP Ellis, Kan. | April 17 | Pending | 8.3 | 1.33 | 20.02 | 286,986 | 63,982 | 2 |
| 43 | CSB Bancorp Inc. Millersburg, Ohio | Indian Village Bancorp Inc. Gnadenhutten, Ohio | May 14 | Pending | 8.1 | 1.02 | N.M. | 344,808 | 95,618 | 3 |
| 44 | First Place Financial Corp. Warren, Ohio | OC Financial Inc. Dublin, Ohio | April 2 | June 30 | 7.5 | 1.25 | N.M. | 3,304,274 | 63,886 | 2 |
| 45 | Frandsen Financial Corp. Arden Hills, Minn. | Tower Bancshares Inc. Cloquet, Minn. | March 13 | May 22 | 7.1 | 2.69 | 17.53 | 1,164,035 | 57,833 | 3 |
| 46 | First Financial Bancshares Inc. Lawrence, Kan. | Enterprise Financial Services Corp St. Louis | Feb. 5 | Pending | 6.5 | 2.60 | N.M. | 62,710 | 203,283 | 1 |
| 47 | West Suburban Bancorp Inc. Lombard, Ill. | G.R. Bancorp Ltd. Grand Ridge, Ill. | Jan. 8 | March 31 | 5.7 | 1.95 | 24.98 | 1,857,194 | 28,029 | 1 |
| 48 | Capitol Bancorp Ltd. Lansing, Mich. | Forethought Federal Savings Bank Batesville, Ind. | March 18 | Pending | 5.0 | 1.10 | 8.36 | 4,901,763 | 121,886 | 1 |
| 49 | Lea M. McMullan Trust Shelbyville, Ky. | Golden Triangle Bancshares Inc. Campbellsburg, Ky. | March 20 | Pending | 4.5 | 3.23 | 21.77 | 81,708 | 17,405 | 1 |
| 50 | Investor Group | Clarkston Financial Corp. Clarkston, Mich. | Feb. 22 | Pending | 4.3 | 1.16 | N.M. | NA | 31,098 | 2 |
| 51 | First State Bancorp. Inc. | State Bank of Colusa Ill. | March 13 | Pending | 4.2 | 1.24 | 19 | NA | 18,125 | 1 |
| 52 | First Community Bancshares Inc. Batesville, Ark. | Goodman State Bank Mo. | Feb. 26 | May 19 | 3.1 | 2.05 | 52.75 | 481,935 | 14,620 | 3 |
| 53 | Central Bancompany Inc. Jefferson City, Mo. | Guaranty Bancshares Inc. Strafford, Mo. | Jan. 25 | Pending | 3.0 | 2.42 | N.M. | 8,501,816 | 38,820 | 4 |
| 54 | First BanCorp. San Juan, Puerto Rico | Virgin Islands Community Bank Christiansted | Jan. 2 | Jan. 28 | 3.0 | N.M. | N.M. | 17,087,080 | 65,098 | 3 |
| 55 | Buena Vista Bancorp Inc. Chester, Ill. | North Adams Bancshares Inc. Ursa, Ill. | Feb. 12 | June 2 | 2.0 | 1.61 | N.M. | 104,763 | 8,581 | 1 |
| 56 | Central Bancorp Inc. Garland, Tex. | Jones County Bank Haddock, Ga. | Feb. 8 | May 31 | 1.4 | 3.35 | N.M. | 786,265 | 4,971 | 1 |
| 57 | 1st United Bancorp Inc. Boca Raton, Fla. | CIB Marine Bancshares Inc. Pewaukee, Wis. | Feb. 27 | Pending | NA | NA | NA | 375,834 | 118,759 | 6 |
| 58 | BancIndependent Inc. Sheffield, Ala. | Citizens Bancorp of Lawrence Moulton, Ala. | June 26 | Pending | NA | NA | NA | 777,983 | 114,745 | 6 |
| 59 | Blackhawk Bancorp. Inc. Milan, Ill. | Princeton/Leclaire Agency Inc. Iowa | Feb. 29 | May 19 | NA | NA | NA | 799,832 | 77,644 | 3 |
| 60 | Capstone Bancshares Inc. Tuscaloosa, Ala. | Security Federal Bancorp Inc. Tuscaloosa, Ala. | May 30 | Pending | NA | NA | NA | 109,442 | 63,146 | 2 |
| 61 | CBT Corp. Inc. Big Timber, Mont. | Continental National Bank of Harlowton Harlowton, Mont. | May 13 | Pending | NA | NA | NA | 47,970 | 45,771 | 2 |
| 62 | Charter Bankshares Inc. Eau Claire, Wis. | Peregrine Corp. Chaska, Minn. | April 17 | Pending | NA | NA | NA | 476,020 | 143,578 | 3 |
| 63 | Citizens First Bancorp Inc. Port Huron, Mich. | AAA Insurance Group Fresno | Feb. 28 | Pending | NA | NA | NA | 1,823,999 | 6,045 | NA |
| 64 | Edgewater Bank St. Joseph, Mich. | New Buffalo Savings Bank Mich. | March 18 | Pending | NA | NA | NA | 178,230 | 113,616 | 3 |
| 65 | First Liberty Capital Corp. Hugo, Colo. | Ore Bancorp. Leadville, Colo. | Feb. 29 | May 23 | NA | NA | NA | 64,674 | 23,042 | 1 |
| 66 | First Perry Bancorp Inc. Marysville, Pa. | HNB Bancorp Inc. Halifax, Pa. | June 18 | Pending | NA | NA | NA | 122,607 | 80,047 | 2 |
| 67 | First Security Bancorp Searcy, Ark. | Union Bancshares of Benton Inc. Ark. | May 1 | Pending | NA | NA | NA | 2,343,605 | 227,788 | 6 |
| 68 | Hometown Community Bancorp Inc. Morton, Ill. | Alpha Financial Group Inc. Toluca, Ill. | June 17 | Pending | NA | NA | NA | 1,545,231 | 177,872 | 5 |
| 69 | Krey Co. Ltd. Pratt, Kan. | SCB Financial Corp. Smith Center, Kan. | Feb. 12 | June 13 | NA | NA | NA | 253,337 | 59,404 | 2 |
| 70 | Liberty Bancorp Inc. Liberty, Mo. | Klt Bancshares Inc. Farley, Mo. | March 7 | Pending | NA | NA | NA | 339,112 | 38,332 | 3 |
| 71 | Lone Star State Bancshares Inc. Lubbock, Tex. | First of Brownfield Corp. Tex. | June 6 | Pending | NA | NA | NA | 132,620 | 138,178 | 1 |
| 72 | NATCOM Bancshares Inc. Superior, Wis. | Superior Bancorp. Superior, Wis. | June 18 | Pending | NA | NA | NA | 447,959 | 90,528 | 3 |
| 73 | Omega Commercial Finance Corp. Miami | Undisclosed bank New York | Jan. 18 | Non-binding Intent | NA | NA | NA | NA | NA | NA |
| 74 | Private Investor-R. Craig Pica Burlingame, Calif. | Silver Queen Financial Services Inc. Greenwood Village, Colo. | May 16 | Pending | NA | NA | NA | NA | 44,674 | 1 |
| 75 | Red Rock Corp. | Choice Financial Holdings Inc. Grafton, N.D. | Jan. 11 | Pending | NA | NA | NA | NA | 16,678 | 1 |
| 76 | Sharon Bancorp Inc. Darby, Pa. | Morton Savings Bank Pa. | Feb. 27 | Pending | NA | NA | NA | 161,771 | 19,484 | 1 |
| 77 | ST Financial Group Inc. Montgomery, Tex. | Snook Bancshares Inc. Tex. | May 28 | Pending | NA | NA | NA | NA | 41,736 | 2 |
| 78 | Sterling City Bancshares Inc. Sterling City, Tex. | Bronte Bancshares Inc. Tex. | Jan. 11 | March 21 | NA | NA | NA | 49,783 | 25,747 | 1 |
| 79 | U.S. Bancorp* Minneapolis | Bank of New York Mellon Corp. | March 25 | June 2 | NA | NA | NA | 237,615,000 | 3,502,829 | 7 |
| 80 | Wells Fargo & Co. San Francisco | United Bancorp. of Wyoming Inc. Jackson, Wyo. | Jan. 14 | July 1 | NA | NA | NA | 548,727,000 | 1,688,574 | 13 |
| 81 | Wells Fargo & Co. San Francisco | F.S.B. Bancorp. Inc. of Fort Morgan, Colorado | June 19 | Pending | NA | NA | NA | 595,221,000 | 144,745 | 1 |
| Totals: | $7,051.3 | 1.87 | 26.24 | $235,045,737 | 437 | |||||
*Purchased Mellon 1st Business bank
Note: Data as of July 8th
Source:SNL Financial
, Charlottesville, Va.© 2008 American Banker