Bank and Thrift Merger Deals Announced in the First Quarter of 2010
April 30, 2010, 12:46 p.m. EDT 1 Min Read
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Bank and Thrift Merger Deals Announced in the First Quarter of 2010
Bank and Thrift Merger Deals Announced in the First Quarter of 2010Ranked by price at announcement | ||||||||
|---|---|---|---|---|---|---|---|---|
| Rank | Buyer | Seller | Announced | Completed | Price (millions) | Price to: | Target's assets | |
| Equity | 12-mo. net | |||||||
| 1 | Chemical Financial Corp. Midland, Mich. | O.A.K. Financial Corp. Byron Center, Mich. | Jan. 7 | Pending | $77.5 | 108.6 | NM | $840,095 |
| 2 | National Australia Bank Ltd. Melbourne | Citizens Republic Bancorp Inc. Flint, Mich. (1) | Jan. 29 | Pending | 50.0 | 110.4 | NM | 462,816 |
| 3 | Rabobank Nederland Utrecht, Netherlands | Capitol Bancorp Ltd. Lansing, Mich. (2) | Feb. 16 | Pending | 25.0 | 158.3 | 40.5 | 167,037 |
| 4 | Steele Financial Corp. | East Texas Financial Services Inc. Tyler | Jan. 28 | Pending | 23.5 | 109.8 | 34.7 | 247,417 |
| 5 | Veritex Holdings Inc. | Professional Capital Inc. Dallas (3) | Mar. 9 | Pending | 22.0 | 205.80 | 19.23 | 131,464 |
| 6 | Naugatuck Valley Financial Corp. MHC Conn. | Southern Connecticut Bancorp Inc. | Feb. 22 | Pending | 19.5 | 122.2 | NM | 137,867 |
| 7 | Green Dot Corp. Monrovia, Calif. | Bonneville Bancorp Provo, Utah | Feb. 4 | Pending | 15.7 | 243.1 | NM | 34,098 |
| 8 | Roma Financial Corp. MHC Robbinsville, N.J. | Sterling Banks Inc. Mount Laurel, N.J. | Mar. 17 | Pending | 14.7 | 87.4 | NM | 383,087 |
| 9 | Premier Commerce Bancorp Downers Grove, Ill. | G.R. Bancorp Ltd. Grand Ridge, Ill. | Jan. 22 | Pending | 4.8 | 140.27 | 27.27 | 35,622 |
| 10 | Texas State Bankshares Inc. Harlingen | Mesquite Financial Services Inc. Alice, Tex. (4) | Jan. 19 | Pending | 4.6 | 217.4 | 40.0 | 18,215 |
| 11 | Management group | Capitol Bancorp Ltd. Lansing, Mich. (5) | Jan. 15 | Pending | 4.0 | 141.1 | NM | 43,810 |
| 12 | Aris Financial Corp. Westlake Village, Calif. | PNB Bancshares Inc. Pekin, Ill. | Feb. 1 | Pending | NA | NA | NA | 22,380 |
| 13 | BCOM Financial Holdings LLC Miami | Cortez Community Bank Brooksville, Fla. | Feb. 23 | Pending | NA | 60.6 | NM | 84,145 |
| 14 | Briscoe Ranch Inc. Uvalde, Tex. | Medina Valley Bancshares Inc. Devine, Tex. (6) | Mar. 29 | Pending | NA | NA | NA | 78,533 |
| 15 | FHB Formation LLC Boston | Northeast Bancorp Lewiston, Maine | Mar. 30 | Pending | NA | NA | NA | 612,677 |
| 16 | First Kansas Bancshares Inc. Hutchinson | Wheatland Investments Inc. Haven, Kan. (7) | Jan. 22 | Pending | NA | NA | NA | 22,983 |
| 17 | Investor group | Capitol Bancorp Ltd. Lansing, Mich. (8) | Jan. 11 | Pending | NA | NA | NA | 42,248 |
| 18 | Investor group | Colonial American Bank Horsham, Pa. | Jan. 14 | Pending | NA | 79.7 | NM | 29,362 |
| 19 | Investor group | Palm Bancorp Inc. Tampa. | Jan. 30 | Pending | NA | NA | NA | 164,595 |
| 20 | Investor group | First Southern Bancorp Inc. Boca Raton, Fla. | Feb. 2 | Feb. 2 | NA | NA | NA | 394,347 |
| 21 | Investor group | Second Capital Investments LLC Overland Park, Kan. (9) | Feb. 12 | Pending | NA | 61.4 | NM | 118,290 |
| 22 | Management group | Capitol Bancorp Ltd. (10) | Mar. 15 | Pending | NA | NA | NA | 64,254 |
| 23 | NHI Financial Services LLC Lincoln, Neb. | Capitol Bancorp Ltd. (11) | Jan. 27 | Pending | NA | NA | NA | 56,535 |
| 24 | North Asia Investment Corp. Seoul | Pacific City Financial Corp. Los Angeles | Jan. 11 | Pending | NA | NA | NA | 533,779 |
| 25 | One Main Street LLC | Liberty Bank Salt Lake City | Mar. 2 | Pending | NA | NA | NA | 15,266 |
| 26 | Ovation Holdings Inc. | National Bank of Southwest Florida Port Charlotte | Mar. 15 | Pending | NA | NA | NA | 37,569 |
| 27 | Riley County Bancshares Inc. Riley, Kan. | Wakefield Bancshares Inc. Kan. (12) | Mar. 31 | Pending | NA | NA | NA | NA |
| 28 | SKBHC Holdings LLC Corona del Mar, Calif. | Starbuck Bancshares Inc. Minn. | Feb. 12 | Pending | NA | NA | NA | 17,610 |
| 29 | Steele Holdings Inc. Tex. | American State Bank Arp, Tex. | Feb. 9 | Pending | NA | NA | NA | 206,440 |
| 30 | Tri-Capital LLC Walnut Creek, Calif. | Tri-Valley Bank San Ramon, Calif. | Mar. 15 | Pending | NA | 62.0 | NM | 90,304 |
| 31 | Utah investor group | Community Bancorp. Pleasant Grove, Utah | Mar. 12 | Pending | NA | NA | NA | 113,624 |
(
1
) Target is F&M Bank-Iowa Central (Marshalltown) (
2
) Target is Napa Community Bank (Calif.) (
3
) Target is Professional Bank (Dallas) (
4
) Target is Falfurrias State Bank (Tex.) (
5
) Target is Bank of Las Calinas (Irving, Tex.) (
6
) Target is Medina Valley State Bank (Devine, Tex.) (
7
) Target is BankHaven (Haven, Kan.) (
8
) Target is Adams Dairy Bank (Blue Springs, Mo.) (
9
) Target is 1st Financial Bank (Overland Park, Kan.) (
10
) Target is USNY Bank (Geneva, N.Y.) (
11
) Target is Community Bank of Lincoln (Neb.) (
12
) Target is Farmers & Merchants State Bank (Wakefield, Kan.) Back to Top
Note: Data as of April 15, 2010. Excludes terminated deals.
Source:
SNL Financial
, Charlottesville, Va. © 2010 American Banker