Bank and Thrift Merger Deals Announced in the First Quarter of 2013
June 12, 2013, 7:12 p.m. EDT 1 Min Read
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Bank and Thrift Merger Deals Announced in the First Quarter of 2013
Bank and Thrift Merger Deals Announced in the First Quarter of 2013Dollars in millions | ||||||||
|---|---|---|---|---|---|---|---|---|
| Rank | Buyer | Target name | Date of announcement | Status of deal | Deal value at announcement | Deal value at completion | Price to book | Price to LTM Earnings (x) |
| 1 | State Bankshares Inc. Fargo, N.D. | Business Bancorp. Inc. Minnetonka, Minn. | Jan. 7 | Completed; March 31 | NA | NA | NA | NA |
| 2 | RBB Bancorp Los Angeles | Los Angeles National Bank | Jan. 8 | Definitive Agreement | NA | NA | NA | NA |
| 3 | Grace Investment Co. Alva, Okla. | First Kiowa Bancshares Inc. Kan. | Jan. 9 | Definitive Agreement | 7.6 | NA | 124.7% | 11.5 |
| 4 | Investor group | Grand Savings Bank Grove, Okla. | Jan. 15 | Completed; April 1 | NA | NA | NA | NA |
| 5 | Midwest Banco Corp. Cozad, Neb. | FNB Financial Services Inc. Cambridge, Neb. | Jan. 15 | Definitive Agreement | NA | NA | NA | NA |
| 6 | Liberty Bank Middletown, Conn. | Southern Connecticut Bancorp Inc. New Haven | Jan. 16 | Definitive Agreement | 10.6 | NA | 88.7 | NM |
| 7 | Western Alliance Bancorp. Phoenix | Centennial Bank Fountain Valley, Calif. | Jan. 18 | Definitive Agreement | 57.5 | NA | 65.8 | 9.6 |
| 8 | Richard Tan (private investor), Hong Kong | California Business Bank Los Angeles | Jan. 21 | Definitive Agreement | NA | NA | NA | NA |
| 9 | Wintrust Financial Corp. Rosemont, Ill. | First Lansing Bancorp Inc. Ill. | Jan. 22 | Definitive Agreement | 38.5 | NA | 94.1 | 35.7 |
| 10 | Investar Bank Baton Rouge, La. | First Community Bank Hammond, La. | Jan. 25 | Definitive Agreement | 4.6 | NA | 35.4 | 15.0 |
| 11 | J & B Financial Holdings Inc. Minneapolis | Mills Financial Services Inc. Brainerd, Minn. | Jan. 25 | Definitive Agreement | NA | NA | NA | NA |
| 12 | Lakeland Bancorp Inc. Oak Ridge, N.J. | Somerset Hills Bancorp Bernardsville, N.J. | Jan. 28 | Definitive Agreement | 65.7 | NA | 152.0 | 19.5 |
| 13 | One PacificCoast Foundation Oakland, Calif. | Albina Community Bank Portland, Ore. | Jan. 28 | Definitive Agreement | NA | NA | NA | NA |
| 14 | Pacific Premier Bancorp Inc. Irvine, Calif. | San Diego Trust Bank | Jan. 28 | Definitive Agreement | 31.1 | NA | 121.0 | 17.2 |
| 15 | United Bankshares Inc. Charleston, W.Va. | Virginia Commerce Bancorp Inc. Arlington | Jan. 29 | Definitive Agreement | 494.7 | NA | 183.2 | 16.4 |
| 16 | First Bancshares Inc. Hattiesburg, Miss. | First National Bank of Baldwin County Foley, Ala. | Jan. 31 | Renegotiation | 3.3 | NA | 81.8 | NM |
| 17 | Pinnacle Bancorp Inc. Central City, Neb. | New West Bank Greeley, Colo. | Jan. 31 | Definitive Agreement | NA | NA | NA | NA |
| 18 | Renasant Corp. Tupelo, Miss. | First M&F Corp. Kosciusko, Miss. | Feb. 6 | Definitive Agreement | 151.0 | NA | 116.7 | 21.6 |
| 19 | HopFed Bancorp Inc. Hopkinsville, Ky. | Sumner Bank & Trust Gallatin, Tenn. | Feb. 11 | Definitive Agreement | 14.3 | NA | 117.4 | 12.9 |
| 20 | Tri-County Financial Group Inc. Mendota, Ill. | Lincoln Bancorp Inc. Rochelle, Ill. | Feb. 11 | Definitive Agreement | NA | NA | NA | NA |
| 21 | Investor group | U.S. Century Bank Doral, Fla. | Feb. 12 | Nonbinding Letter of Intent | NA | NA | NA | NA |
| 22 | Southern BancShares N.C. Inc. Mount Olive | Heritage Bancshares Inc. Lucama, N.C. | Feb. 14 | Definitive Agreement | 19.0 | NA | 62.6 | 21.7 |
| 23 | Princeton Capital LLC West Trenton, N.J. | Bank of Maumee Ohio | Feb. 15 | Definitive Agreement | NA | NA | NA | NA |
| 24 | F.N.B. Corp. Hermitage, Pa. | PVF Capital Corp. Solon, Ohio | Feb. 19 | Definitive Agreement | 109.6 | NA | 141.4 | 22.4 |
| 25 | SCBT Financial Corp. Columbia, S.C. | First Financial Holdings Inc. Charleston, S.C. | Feb. 19 | Definitive Agreement | 298.6 | NA | 127.2 | 10.4 |
| 26 | First Scottsdale Bank Ariz. | Commerce Bank of Arizona Inc. Tucson | Feb. 20 | Definitive Agreement | 8.6 | NA | 41.4 | NM |
| 27 | DS Holding Co. Omaha, Neb. | Centennial Bank Omaha, Neb. | Feb. 21 | Definitive Agreement | NA | NA | NA | NA |
| 28 | Bond Street Holdings Inc. Weston Fla. | Atlantic Coast Financial Corp. Jacksonville, Fla. | Feb. 25 | Definitive Agreement | 13.1 | NA | 30.5 | NM |
| 29 | Glacier Bancorp Inc. Kalispell, Mont. | Wheatland Bankshares Inc. Wyo. | Feb. 25 | Definitive Agreement | 38.8 | NA | 149.6 | 11.3 |
| 30 | ST Financial Group Inc. College Station, Texas | Peoples Bank Colleyville, Texas | March 3 | Definitive Agreement | NA | NA | NA | NA |
| 31 | SI Financial Group Inc. Willimantic, Conn. | Newport Bancorp Inc. Fla. | March 5 | Definitive Agreement | 63.9 | NA | 115.8 | 41.0 |
| 32 | CBFH Inc. Beaumont, Texas | VB Texas Inc. Houston | March 7 | Definitive Agreement | 76.8 | NA | NM | NM |
| 33 | Riverview Financial Corp. Halifax, Pa. | Union Bancorp Inc. Pottsville, Pa. | March 7 | Definitive Agreement | 10.1 | NA | NM | NA |
| 34 | Heritage Financial Corp. Olympia, Wash. | Valley Community Bancshares Inc. Puyallup, Wash. | March 11 | Definitive Agreement | 44.0 | NA | 146.1 | 24.3 |
| 35 | Management group | Trust Company Bank Mason, Tenn. | March 11 | Definitive Agreement | NA | NA | NA | NA |
| 36 | Midland States Bancorp Inc. Effingham, Ill. | Grant Park Bancshares Inc. Ill. | March 11 | Definitive Agreement | NA | NA | NA | NA |
| 37 | Community Bank Holdings of Texas Inc. Corsicana | Mineral Wells Bancshares Inc. Texas | March 14 | Definitive Agreement | NA | NA | NA | NA |
| 38 | First Trust Financial Corp. Clinton, Ky. | Ballard Kevil Bancorp Inc. Kevil, Ky. | March 19 | Definitive Agreement | NA | NA | NA | NA |
| 39 | 1st United Bancorp Inc. Boca Raton, Fla. | Enterprise Bancorp Inc. North Palm Beach, Fla. | March 22 | Definitive Agreement | 45.0 | NA | 120.0 | 21.2 |
| 40 | Puget Sound Bank Bellevue, Wash. | Core Business Bank Bellevue, Wash. | March 22 | Definitive Agreement | 8.4 | NA | 132.4 | NM |
| 41 | CNB Financial Corp. Clearfield, Pa. | FC Banc Corp. Bucyrus, Ohio | March 26 | Definitive Agreement | 40.5 | NA | 118.4 | 11.3 |
| 42 | Bryn Mawr Bank Corp. Pa. | MidCoast Community Bancorp Inc. Wilmington, Del. | March 27 | Definitive Agreement | 31.5 | NA | 147.5 | 44.4 |
| 43 | Glacier Bancorp Inc. Kalispell, Mont. | North Cascades Bancshares Inc. Chelan, Wash. | March 27 | Definitive Agreement | 29.3 | NA | 103.8 | 20.4 |
| 44 | Henderson Citizens Bancshares Inc. Texas | East Texas National Bank of Palestine | March 30 | Definitive Agreement | NA | NA | NA | NA |
Note: Status of deal reflects status as of March 31, 2013. Includes completed, pending and terminated deals, but excludes government-assisted deals.
Source: SNL Financial, Charlottesville, Va.
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