Bank and Thrift Merger Deals Announced in the First Quarter of 2008
Published April 23, 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 Quarter of 2008
Bank and Thrift Merger Deals Announced in the First Quarter of 2008Ranked by announced price Published April 23, 2008 | |||||||
|---|---|---|---|---|---|---|---|
| Rank | Buyer | Seller | Date | Price (millions) | | | |
| Equity | | | |||||
| 1 | Bank of America Corp. Charlotte | Countrywide Financial Corp. Calabasas, Calif. | Jan. 11 | $4,145 | 0.27 | 12.19 | $209,236,465 |
| 2 | Eastern Bank Corp. Boston | Massbank Corp. Reading, Mass. | March 10 | 172 | 1.58 | 22.23 | 801,799 |
| 3 | Valley National Bancorp Wayne, N.J. | Greater Community Bancorp Totowa, N.J. | March 19 | 167 | 2.31 | 18.88 | 975,990 |
| 4 | F.N.B. Corp. Hermitage, Pa. | Iron and Glass Bancorp Inc. Pittsburgh | Feb. 14 | 88 | 2.31 | 24.27 | 300,364 |
| 5 | Prosperity Bancshares Inc. Houston | 1st Choice Bancorp Inc. Houston | Feb. 7 | 67 | 2.54 | 14.65 | 302,965 |
| 6 | Hampton Roads Bankshares Inc. Norfolk, Va. | Shore Financial Corp. Onley, Va. | Jan. 8 | 56 | 2.03 | 20.13 | 269,119 |
| 7 | MutualFirstFinancial Inc. Muncie, Ind. | MFB Corp. Mishawaka, Ind. | Jan. 7 | 53 | 1.29 | 16.35 | 510,448 |
| 8 | Northstar Financial Group Inc. Bad Axe, Mich. | Capitol Bancorp Ltd. Lansing, Mich. | March 31 | 52 | 1.37 | NM | 421,059 |
| 9 | First Citizens Bancorp. Inc. Columbia, S.C. | Merchants and Farmers Bank Comer, Ga. | March 4 | 37 | 1.96 | 12.34 | 142,314 |
| 10 | MainSource Financial Group Inc. Greensburg, Ind. | 1st Independence Financial Group Inc. Louisville | Feb. 26 | 36 | 0.89 | NM | 352,707 |
| 11 | Bank Iowa Corp. West Des Moines | Hansen Bancorp. Lawler, Iowa | Jan. 30 | 31 | 1.55 | 31.96 | 194,072 |
| 12 | Jacksonville Bancorp Inc. Fla. | Heritage Bancshares Inc. Orange Park, Fla. | Jan. 28 | 26 | 1.76 | 17.9 | 161,375 |
| 13 | Village Bank and Trust Financial Corp. Midlothian, Va. | River City Bank Mechanicsville, Va. | March 9 | 20 | 1.31 | NM | 121,894 |
| 14 | Investor Group | Starbanc Holding Co. Fort Worth | March 6 | 17 | 2.30 | 21.22 | 73,422 |
| 15 | First Financial Service Corp. Elizabethtown, Ky. | FSB Bancshares Inc. Lanesville, Ind. | March 19 | 14 | 1.41 | 22.58 | 62,443 |
| 16 | Passumpsic Bancorp St. Johnsbury, Vt. | Lancaster National Bank N.H. | Feb. 27 | 12 | 2.00 | NM | 54,786 |
| 17 | First Graham Bancorp Inc. Tex. | Surety Capital Corp. Fort Worth | Feb. 7 | 9 | 1.52 | NM | 36,651 |
| 18 | First Financial Bancshares Inc. Lawrence, Kan. | Enterprise Financial Services Corp. St. Louis | Feb. 5 | 7 | NA | NM | 203,283 |
| 19 | Investor Group | Clarkston Financial Corp. Mich. | Feb. 22 | 4 | 1.16 | NM | 31,098 |
| 20 | First Community Bancshares Inc. Batesville, Ark. | Goodman State Bank Mo. | Feb. 26 | 3 | 2.05 | 52.75 | 14,620 |
| 21 | First BanCorp. San Juan, Puerto Rico | Virgin Islands Community Bank Christiansted | Jan. 2 | 3 | NA | NM | 65,098 |
| 22 | Wells Fargo & Co. San Francisco | United Bancorp. of Wyoming Inc. Jackson | Jan. 15 | NA | NA | NA | 1,688,574 |
| 23 | Undisclosed Buyer | CIB Marine Bancshares Inc. Pewaukee, Wis. | Feb. 27 | NA | NA | NA | 125,304 |
| 24 | Liberty Financial Services Inc. Sioux City, Iowa | Haugo Bancshares Inc. Sioux Falls, S.D. | March 19 | NA | NA | NA | 75,500 |
| 25 | Sharon Bancorp Inc. Darby, Pa. | Morton Savings Bank Pa. | Feb. 27 | NA | NA | NA | 19,484 |
| 26 | U.S. Bancorp Minneapolis | Bank of New York Mellon Corp. | March 28 | NA | NA | NA | 3,502,829 |
| 27 | Omega Commercial Finance Corp. Miami | Undisclosed Bank New York | Jan. 18 | NA | NA | NA | NA |
| 28 | Liberty Bancorp Inc. Mo. | KLT Bancshares Inc. Farley, Mo. | March 7 | NA | NA | NA | 38,332 |
| 29 | Frandsen Financial Corp. Arden Hills, Minn. | Anderson Financial Group Inc. Wayzata, Minn. | March 18 | NA | NA | NA | 136,815 |
| 30 | Frandsen Financial Corp. Arden Hills, Minn. | Tower Bancshares Inc. Cloquet, Minn. | March 17 | NA | NA | NA | 57,833 |
| 31 | Mount Washington Co-operative Bank South Boston, Mass. | Roxbury-Highland Co-operative Bank Jamaica Plain, Mass. | Jan. 3 | NA | NA | NA | 25,443 |
| 32 | Robertson Holding Co. LP Harrogate, Tenn. | Union National Bancorp of Barbourville Inc. Ky. | March 14 | NA | NA | NA | 203,271 |
| 33 | Capitol Bancorp Ltd. Lansing, Mich. | Devlin Group LLC Conn. | March 18 | NA | NA | NA | 121,886 |
Note: Data as of April 4, 2008
Source: SNL Financial, Charlottesville, Va.
© 2008 American Banker