Bank and Thrift Merger Deals Announced in the First Quarter of 2009
May 28, 2009, 10:08 a.m. EDT 1 Min Read
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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 | |||||||
---|---|---|---|---|---|---|---|
Rank | Buyer | Seller | Date | Price (millions) | Announced price to: | Seller's assets (000) | |
Equity | | ||||||
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 EastBankData as of April 12, 2009. Excludes terminated deals.
Source:SNL Financial
, Charlottesville, Va.© 2009 American Banker