Bank and Thrift Merger Deals Announced in the Third Quarter of 2013
January 28, 2014, 12:50 p.m. EST 1 Min Read
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Bank and Thrift Merger Deals Announced in the Third Quarter of 2013
Bank and Thrift Merger Deals Announced in the Third Quarter of 2013Dollars in millions | ||||||||
|---|---|---|---|---|---|---|---|---|
| Rank | Buyer | Target name | Date of announcement | Statusof deal | Deal value at announcement | Deal value at completion | Price to book (%) | Price to LTM Earnings (x) |
| 1 | Grandpoint Capital Inc. Los Angeles | Gilmore Bank Los Angeles | July 1 | Completed; Sep. 26 | NA | NA | NA | NA |
| 2 | Marine Bancorp Inc. Springfield, Ill. | Schuyler Bancorp Inc. Springfield, Ill. | July 1 | Completed; Oct. 5 | NA | NA | NA | NA |
| 3 | Peoples Bancorp Inc. Marietta, Ohio | Ohio Commerce Bank Beachwood | July 1 | Completed; Oct. 11 | $16.5 | $16.5 | 141.8% | 25.6 |
| 4 | Ford Financial Fund II LP Dallas | Metropolitan National Bank Little Rock, Ark. | July 5 | Terminated; Sep. 3 | 16.0 | NA | 24.3 | NM |
| 5 | First Bank Hamilton, N.J. | Heritage Community Bank Randolph, N.J. | July 11 | Pending | 4.8 | NA | 49.7 | NM |
| 6 | MB Financial Inc. Chicago | Taylor Capital Group Inc. Rosemont, Ill. | July 14 | Pending | 658.8 | NA | 181.7 | 9.3 |
| 7 | Wilshire Bancorp Inc. Los Angeles | Saehan Bancorp Los Angeles | July 15 | Pending | 105.5 | NA | 169.9 | NM |
| 8 | Bond Street Holdings Inc. Weston, Fla. | Great Florida Bank Miami Lakes | July 17 | Pending | 42.5 | NA | 85.0 | NM |
| 9 | Jorge Rodrigo Mario Rangel de Alba Brunel (private investor) | Oakwood State Bank Texas | July 17 | Pending | 2.2 | NA | 235.6 | 33.8 |
| 10 | First American Investment Inc. Hudson, Wis. | Great Northern Bank St. Michael, Minn. | July 18 | Pending | NA | NA | NA | NA |
| 11 | Independent Bank Group Inc. McKinney, Texas | Live Oak Financial Corp. Dallas | July 18 | Pending | 20.0 | NA | 143.9 | 21.9 |
| 12 | PacWest Bancorp Los Angeles | CapitalSource Inc. Los Angeles | July 22 | Pending | 2,381.9 | NA | 150.2 | 4.8 |
| 13 | HomeStreet Inc. Seattle | Fortune Bank Seattle | July 26 | Pending | 27.1 | NA | 137.8 | 9.1 |
| 14 | HomeStreet Inc. Seattle | YNB Financial Services Corp. Yakima, Wash. | July 26 | Pending | 10.3 | NA | 139.6 | 43.1 |
| 15 | Whitcorp Financial Co. Leoti, Kan. | Colorado State Bank of Walsh | July 29 | Completed; Oct. 1 | NA | NA | NA | NA |
| 16 | CenterState Banks Inc. Davenport, Fla. | Gulfstream Bancshares Inc. Stuart, Fla. | July 29 | Pending | 77.7 | NA | 144.2 | 16.4 |
| 17 | Wintrust Financial Corp. Rosemont, Ill. | Diamond Bancorp Inc. Schaumburg, Ill. | July 31 | Pending | NA | NA | NA | NA |
| 18 | Landmark Bancorp Inc. Manhattan, Kan. | Citizens Bank Fort Scott, Kan. | Aug. 1 | Pending | NA | NA | NA | NA |
| 19 | Hyde Park Bancorp MHC Mass. | Nantucket Bank Mass. | Aug. 4 | Pending | NA | NA | NA | NA |
| 20 | Allegiance Bancshares Inc. Houston | Independence Bank Houston | Aug. 5 | Pending | NA | NA | NA | NA |
| 21 | Carolina Alliance Bank Spartanburg, S.C. | Forest Commercial Bank Asheville, N.C. | Aug. 8 | Pending | NA | NA | NA | NA |
| 22 | Investor group | Anchor BanCorp Wisconsin Inc. Madison | Aug. 12 | Completed; Sep. 27 | NA | NA | NA | NA |
| 23 | Cullen/Frost Bankers Inc. San Antonio | WNB Bancshares Inc. Odessa, Texas | Aug. 13 | Pending | 220.0 | NA | 284.1 | 12.8 |
| 24 | First Community Corp. Lexington, S.C. | Savannah River Financial Corp. Augusta, Ga. | Aug. 13 | Pending | 33.6 | NA | 112.7 | 52.5 |
| 25 | Vintage Bank Kansas Leon | State Bank of Conway Springs Kan. | Aug. 14 | Pending | NA | NA | NA | NA |
| 26 | Mercantile Bank Corp. Grand Rapids, Mich. | Firstbank Corp. Alma, Mich. | Aug. 14 | Pending | 154.5 | NA | 115.9 | 13.0 |
| 27 | 1st Constitution Bancorp Cranbury, N.J. | Rumson-Fair Haven Bank & Trust Co. Rumson, N.J. | Aug. 14 | Pending | 24.4 | NA | 128.9 | 22.8 |
| 28 | Geneva State Co. Neb. | State Bank of Riverdale Neb. | Aug. 26 | Pending | NA | NA | NA | NA |
| 29 | Hamilton State Bancshares Inc. Hoschton, Ga. | Cherokee Banking Co. Canton, Ga. | Aug. 26 | Pending | 8.5 | NA | 100.8 | NA |
| 30 | GNB Financial Services Inc. Gratz, Pa. | Liberty Centre Bancorp Inc. Pottsville, Pa. | Aug. 28 | Pending | NA | NA | NA | NA |
| 31 | First Citizens BancShares Inc. Raleigh, N.C. | 1st Financial Services Corp. Hendersonville, N.C. | Aug. 28 | Pending | 2.0 | NA | NM | 0.8 |
| 32 | Texas Independent Bancshares Inc. Texas City | Hull State Bank Texas | Aug. 29 | Pending | NA | NA | NA | NA |
| 33 | Prosperity Bancshares Inc. Houston | F&M Bancorp. Inc. Tulsa, Okla. | Aug. 29 | Pending | 243.9 | NA | 185.4 | 16.5 |
| 34 | Five Star Credit Union Dothan, Ala. | Flint River National Bank Camilla, Ga. | Sep. 3 | Pending | NA | NA | NA | NA |
| 35 | FSC Bancshares Inc. Cameron, Mo. | St. Joseph Bancorp Inc. Mo. | Sep. 3 | Pending | NA | NA | NA | NA |
| 36 | Community & Southern Holdings Inc. Atlanta | Verity Capital Group Inc. Winder, Ga. | Sep. 3 | Pending | 27.3 | NA | 128.1 | 10.0 |
| 37 | Jay D. Bergman (private investor) | Community Holdings Corp. Palos Hills, Ill. | Sep. 3 | Pending | 7.2 | NA | 672.7 | NM |
| 38 | First San Benito Bancshares Corp. Texas | South Padre Bank South Padre Island, Texas | Sep. 5 | Pending | NA | NA | NA | NA |
| 39 | Stonegate Bank Fort Lauderdale, Fla. | Florida Shores Bancorp Inc. Pompano Beach | Sep. 5 | Pending | 49.5 | NA | 142.6 | NM |
| 40 | Old National Bancorp Evansville, Ind. | Tower Financial Corp. Fort Wayne, Ind. | Sep. 9 | Pending | 108.0 | NA | 174.9 | 15.7 |
| 41 | Cardinal Financial Corp. McLean, Va. | United Financial Banking Cos. Inc. Vienna, Va. | Sep. 9 | Pending | 53.2 | NA | 196.4 | 51.0 |
| 42 | Umpqua Holdings Corp. Portland, Ore. | Sterling Financial Corp. Spokane, Wash. | Sep. 11 | Pending | 1,995.1 | NA | 159.6 | 19.6 |
| 43 | Midland States Bancorp Inc. Effingham, Ill. | Heartland Bank St. Louis | Sep. 12 | Pending | NA | NA | NA | NA |
| 44 | Simmons First National Corp. Pine Bluff, Ark. | Metropolitan National Bank Little Rock, Ark. | Sep. 12 | Pending | 53.6 | NA | 86.2 | 36.6 |
| 45 | Private investor in California | NCAL Bancorp Los Angeles | Sep. 16 | Pending | NA | NA | NA | NA |
| 46 | Heritage Group Inc. Aurora, Neb. | Peoples-Webster County Bank Red Cloud, Neb. | Sep. 18 | Pending | NA | NA | NA | NA |
| 47 | East West Bancorp Inc. Pasadena, Calif. | MetroCorp Bancshares Inc. Houston | Sep. 18 | Pending | 274.3 | NA | 153.7 | 23.7 |
| 48 | Banner Corp. Walla Walla, Wash. | Home Federal Bancorp Inc. Nampa, Idaho | Sep. 24 | Pending | 196.0 | NA | 115.1 | NM |
| 49 | Elkton Holding Co. S.D. | First National Bank of Volga S.D. | Sep. 26 | Pending | NA | NA | NA | NA |
| 50 | Bridge Bancorp Inc. Bridgehampton, N.Y. | FNBNY Bancorp Inc. New York | Sep. 27 | Pending | 5.4 | NA | 24.2 | NM |
| 51 | New Century Bancorp Inc. Dunn, N.C. | Select Bancorp Inc. Greenville, N.C. | Sep. 30 | Pending | 31.1 | NA | 124.5 | 14.4 |
Note: Status of deal reflects status as of Oct. 15, 2013.
Source: SNL Financial, Charlottesville, Va.
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