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Bank and Thrift Merger Deals Announced in the First Quarter of 2009

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Bank and Thrift Merger Deals Announced in the First Quarter of 2009

Bank and Thrift Merger Deals Announced in the First Quarter of 2009Ranked by price at announcement
Published May 28, 2009

Rank Buyer Seller Date Price (millions) Announced price to: Seller's assets (000)
Equity 12-month Net
1 Investor Group Colonial BancGroup Inc. Montgomery, Ala. Mar. 31 $300.0 NA NA $25,816,306
2 Union Bankshares Corp. Bowling Green, Va. Ukrop's Super Markets Inc. Richmond, Va. 1 Mar. 30 105.4 117.88 NM 1,300,888
3 Community Exchange Bancshares Hindman, Ky. Hindman Bancshares Inc. Ky. Feb. 24 32.4 132.21 18.15 158,849
4 NewStar Financial Inc. Boston Dickinson Financial Corp. II Kansas City, Mo. 2 Jan. 5 19.0 51.33 NM 206,179
5 Glacier Bancorp Inc. Kalispell, Mont. First Co. Cody, Wyo. Feb. 6 17.5 119.57 NM 282,474
6 1st Financial Services Corp. Hendersonville, N.C. AB&T Financial Corp. Gastonia, N.C. Feb. 16 17.3 70.67 NM 170,683
7 Merchants Bancorp Inc. Hillsboro, Ohio CB Bancorp Inc. Higginsport, Ohio Mar. 25 10.8 100.21 22.64 110,988
8 CommerceWest Bank Irvine, Calif. Discovery Bancorp San Marcos, Calif. Mar. 5 10.5 52.31 NM 172,746
9 Palm Financial Inc. Boca Raton, Fla. SouthFirst Bancshares Inc. Sylacauga, Ala. Feb. 23 8.5 80.67 NM 133,728
10 Wilbur L. Ross (private investor) First Bank and Trust Co. of Indiantown Fla. Jan. 16 7.3 137.83 20.03 83,462
11 New England Bancshares Inc. Enfield, Conn. Apple Valley Bank and Trust Co. Cheshire, Conn. Jan. 14 7.1 114.63 NM 84,583
12 Southern Bancorp Inc. Arkadelphia, Ark. Timberland Bancshares Inc. El Dorado, Ark. 3 Mar. 26 6.0 48.37 NM 139,402
13 Banner County Ban Corp. Harrisburg, Neb. Cowboy State Bancorp Inc. Ranchester, Wyo. 4 Jan. 9 5.7 133.92 28.33 41,047
14 Investor Group Lowell Co-operative Bank Mass. Jan. 29 5.0 NA NA 87,536
15 Hantz Holdings Inc. Southfield, Mich. Fentura Financial Inc. Fenton, Mich. 5 Mar. 17 3.0 86.31 NM 46,062
16 Lexxiom Inc. Baxter Bancshares Inc. Baxter Springs, Kan. Mar. 6 2.0 30.86 8.62 36,680
17 MidCap Financial Holdings LLC Bethesda, Md. ISN Bank Cherry Hill, N.J. Feb. 6 1.3 23.70 NM 128,789
18 Border Bancshares Inc. Greenbush, Minn. Marshall BankFirst Corp. Minneapolis 6 Feb. 25 NA NA NA 69,989
19 First Wagoner Corp. Okla. Green Country Bancorp. Inc. Ketchum, Okla. Jan. 1 NA NA NA 24,284
20 Florida Traditions Bank Dade City Providence Bancorp Inc. Winter Haven, Fla. 7 Jan. 15 NA NA NA 41,802
21 Intercontinental Bankshares LLC Coral Gables, Fla. Intercontinental Bank West Miami Jan. 20 NA NA NA 128,661
22 Liberty Financial Services Inc. New Orleans United Bank and Trust Co. New Orleans Feb. 2 NA NA NA 25,378
23 Meskwaki Tribe Iowa Tama Bancshares Inc. Marshalltown, Iowa 8 Feb. 13 NA NA NA 66,026
24 Northwest Bancorp Inc. MHC Warren, Pa. Keystone State Savings Bank Sharpsburg, Pa. Jan. 29 NA NA NA 25,650
25 Orchard First Source Asset Management LLC Rolling Meadows, Ill. Beverly Hills Bancorp Inc. Calabasas, Calif. Mar. 2 NA NA NA 1,496,481
26 University Financial Corp Inc. St. Paul JAG Financial Inc. Minneapolis 9 Jan. 31 NA NA NA 20,915

(

1
) Target is First Market Bank FSB
(
2
) Target is Southern Commerce Bank (Tampa)
(
3
) Target is Timberland Bank
(
4
) Target is Cowboy State Bank
(
5
) Target is Davison State Bank (Mich.)
(
6
) Target is Marshall Bank (Hallock, Minn.)
(
7
) Target is Providence Bank
(
8
) Target is Pinnacle Bank
(
9
) Target is EastBank

Data as of April 12, 2009. Excludes terminated deals.

Source:
SNL Financial
, Charlottesville, Va.
© 2009 American Banker
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