Bank and Thrift Merger Deals Completed in the First Quarter of 2006
April 26, 2006, 5:56 p.m. EDT 1 Min Read
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Bank and Thrift Merger Deals Completed in the First Quarter of 2006
Bank and Thrift Merger Deals Completed in the First Quarter of 2006Ranked by price at closing | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Rank | Buyer | Seller | Date | Price (millions) | Price at closing to: | Seller's | ||||
| Announced | Completed | Announced | At closing | Equity | 12-month net | Branches | Assets (000) | |||
| 1 | Wachovia Corp. Charlotte, N.C. | Westcorp Irvine, Calif. | Sept. 12,'05 | March 1 | $3,416.7 | $3,809.2 | 2.38 | 14.84 | 19 | $17,007,015 |
| 2 | TD Banknorth Inc. Portland, Maine | Hudson United Bancorp Mahwah, N.J. | July 11,'05 | Jan. 31 | 1,898.7 | 1,880.4 | 3.61 | 16.77 | 203 | 9,065,673 |
| 3 | Huntington Bancshares Inc. Columbus, Ohio | Unizan Financial Corp. Canton, Ohio | Jan. 27,'04 | Feb. 28 | 587.8 | 617.5 | 1.99 | 33.37 | 45 | 2,459,931 |
| 4 | Compass Bancshares Inc. Birmingham, Ala. | TexasBanc Holding Co. Weatherford | Sept. 17,'05 | March 24 | 459.2 | 480.7 | 3.56 | 21.66 | 24 | 1,834,709 |
| 5 | Rabobank Nederland Utrecht | Central Coast Bancorp Salinas, Calif. | Oct. 12,'05 | Jan. 31 | 371.4 | 371.4 | 3.24 | 22.47 | 15 | 1,233,327 |
| 6 | First Midwest Bancorp Inc. Itasca, Ill. | Bank Calumet Inc. Hammond, Ind. | Dec. 12,'05 | March 31 | 307.0 | 307.0 | 2.31 | 21.46 | 30 | 1,198,193 |
| 7 | Fulton Financial Corp. Lancaster, Pa. | Columbia Bancorp Columbia, Md. | July 26,'05 | Feb. 1 | 310.7 | 305.6 | 3.14 | 18.90 | 24 | 1,316,763 |
| 8 | East West Bancorp Inc. San Marino, Calif. | Standard Bank FSB Monterey Park, Calif. | Dec. 23,'05 | March 17 | 204.0 | 199.0 | 2.00 | 21.16 | 6 | 922,548 |
| 9 | Pinnacle Financial Partners Inc. Nashville, Tenn. | Cavalry Bancorp Inc. Murfreesboro, Tenn. | Sept. 30,'05 | March 15 | 175.3 | 188.4 | 3.22 | 25.69 | 10 | 638,324 |
| 10 | MAF Bancorp Inc. Clarendon Hills, Ill. | EFC Bancorp Inc. Elgin, Ill. | June 29,'05 | Jan. 31 | 177.5 | 177.5 | 2.03 | 41.85 | 9 | 1,047,459 |
| 11 | Synovus Financial Corp. Columbus, Ga. | Riverside Bancshares Inc. Marietta, Ga. | Sept. 6,'05 | March 27 | 171.3 | 172.8 | 3.66 | 18.99 | 5 | 672,547 |
| 12 | Western Alliance Bancorp. Las Vegas | Intermountain First Bancorp Las Vegas | Dec. 30,'05 | March 31 | 109.6 | 126.7 | 4.09 | 21.81 | 5 | 463,067 |
| 13 | First Community Bancorp Rancho Santa Fe, Calif. | Cedars Bank Los Angeles | Sept. 13,'05 | Jan. 4 | 120.0 | 120.0 | 2.52 | 17.70 | 6 | 507,144 |
| 14 | Capital Bank Corp. Raleigh, N.C. | 1st State Bancorp Inc. Burlington, N.C. | June 29,'05 | Jan. 3 | 114.6 | 114.6 | 1.73 | 33.90 | 7 | 367,839 |
| 15 | National Penn Bancshares Inc. Boyertown, Pa. | Nittany Financial Corp. State College, Pa. | Sept. 6,'05 | Jan. 26 | 97.8 | 97.4 | 3.72 | 25.40 | 5 | 340,821 |
| 16 | Cullen/Frost Bankers Inc. San Antonio | Alamo Corp. of Texas | Nov. 10,'05 | Feb. 28 | 87.0 | 87.0 | 3.23 | 24.44 | 10 | 312,219 |
| 17 | NBT Bancorp Inc. Norwich, N.Y. | CNB Bancorp Inc. Gloversville, N.Y. | June 13,'05 | Feb. 10 | 87.6 | 85.6 | 2.09 | 27.53 | 9 | 404,141 |
| 18 | Synovus Financial Corp. Columbus, Ga. | Banking Corp. of Florida Naples | Oct. 24,'05 | March 31 | 82.6 | 84.3 | 3.13 | 17.87 | 3 | 347,334 |
| 19 | MainSource Financial Group Inc. Greensburg, Ind. | Union Community Bancorp Crawfordsville, Ind. | Aug. 23,'05 | March 17 | 56.3 | 56.3 | 1.70 | NM | 6 | 260,097 |
| 20 | Frontier Financial Corp. Everett, Wash. | Northstar Financial Corp. Seattle | Sept. 12,'05 | Jan. 31 | 47.9 | 51.7 | 3.61 | 26.20 | 2 | 180,476 |
| 21 | NewAlliance Bancshares Inc. New Haven, Conn. | Cornerstone Bancorp Inc. Stamford, Conn. | April 12,'05 | Jan. 2 | 47.9 | 50.1 | 1.99 | 33.59 | 6 | 220,943 |
| 22 | AmericanWest Bancorp. Spokane, Wash. | Columbia Trust Bancorp Pasco, Wash. | Nov. 29,'05 | March 15 | 37.7 | 37.7 | 2.53 | 30.62 | 4 | 208,929 |
| 23 | Sun Bancorp Inc. Vineland, N.J. | Advantage Bank Branchburg, N.J. | Aug. 25,'05 | Jan. 19 | 37.0 | 35.8 | 2.54 | 41.59 | 5 | 169,941 |
| 24 | Alpine Banks of Colorado Glenwood Springs | First Colorado Bankshares Inc. Telluride | Oct. 19,'05 | Jan. 1 | 35.6 | 35.6 | 3.54 | 17.15 | 4 | 149,335 |
| 25 | Commercial Capital Bancorp Inc. Irvine, Calif. | CalNet Business Bank Sacramento | Oct. 20,'05 | March 3 | 40.2 | 34.8 | 1.53 | 15.55 | 1 | 176,628 |
| 26 | First State Bancorp. Albuquerque, N.M. | Access Anytime Bancorp Inc. Albuquerque, N.M. | Aug. 31,'05 | Jan. 3 | 32.0 | 34.0 | 1.52 | 20.88 | 10 | 367,093 |
| 27 | Liberty Shares Inc. Hinesville, Ga. | Peoples Banking Corp. Blackshear, Ga. | Oct. 4,'05 | Jan. 23 | 33.4 | 33.4 | 1.52 | 13.94 | 3 | 164,057 |
| 28 | Cullen/Frost Bankers Inc. San Antonio | Texas Community Bancshares Inc. Dallas | Sept. 1,'05 | Feb. 9 | 31.0 | 31.0 | 3.10 | 37.26 | 1 | 122,130 |
| 29 | First M&F Corp. Kosciusko, Miss. | Columbiana Bancshares Inc. Ala. | Oct. 12,'05 | Feb. 17 | 31.0 | 31.0 | 2.13 | 56.93 | 6 | 184,871 |
| 30 | First Muskogee Financial Corp. Muskogee, Okla. | First Financial Bancshares Inc. Roland, Okla. | Jan. 19,'06 | March 31 | 30.0 | 30.0 | 2.39 | 19.47 | 3 | 176,319 |
| 31 | First Banks Inc. Clayton, Mo. | First National Bank of Sachse Texas | Aug. 22,'05 | Jan. 3 | 20.8 | 20.8 | 2.14 | 15.36 | 1 | 72,190 |
| 32 | First State Bancorp. Albuquerque, N.M. | New Mexico Financial Corp. Belen | Sept. 2,'05 | Jan. 10 | 20.0 | 20.0 | 1.73 | 8.75 | 9 | 111,267 |
| 33 | Truman Bancorp Inc. Clayton, Mo. | FFC Financial Corp. Saint Louis, Mo. | Nov. 1,'05 | Feb. 10 | 18.5 | 18.5 | 1.73 | 27.65 | 6 | 115,338 |
| 34 | West Alabama Capital Corp. Reform | West Alabama Bancshares Inc. Millport | Aug. 9,'05 | Jan. 1 | 17.5 | 17.5 | 1.85 | 18.72 | 3 | 71,350 |
| 35 | Standard Mutual Holding Co. Export, Pa. | Hoblitzell National Bank of Hyndman Pa. | Aug. 29,'05 | Jan. 12 | 16.5 | 16.5 | 2.19 | 25.33 | 4 | 72,629 |
| 36 | CenterState Banks of Florida Inc. Winter Haven | CenterState Bank Mid Florida Leesburg | Aug. 30,'05 | March 31 | 14.9 | 14.9 | 1.66 | NM | 3 | 68,462 |
| 37 | Hudson Valley Holding Corp. Yonkers, N.Y. | New York National Bank Bronx | Dec. 23,'04 | Jan. 1 | 13.4 | 13.4 | 1.63 | NM | 6 | 131,186 |
| 38 | Landmark Bancorp Inc. Manhattan, Kan. | First Manhattan Bancorp. Inc. Manhattan, Kan. | Sept. 6,'05 | Jan. 1 | 12.9 | 12.9 | 1.42 | 8.96 | 4 | 132,258 |
| 39 | FC Holdings Inc. Houston | Bosque Corp. Meridian, Texas | July 20,'05 | Jan. 9 | 12.0 | 12.0 | 2.25 | 18.65 | 2 | 68,081 |
| 40 | German American Bancorp Jasper, Ind. | Stone City Bancshares Inc. Bedford, Ind. | Oct. 25,'05 | Jan. 1 | 11.0 | 11.0 | 1.85 | 64.35 | 2 | 60,752 |
| 41 | Great Western Bancorp. Inc. Omaha, Neb. | Security Bank of Madison S.D. | Nov. 4,'05 | Feb. 5 | 11.0 | 11.0 | NA | NA | 3 | 144,905 |
| 42 | CCB Corp. Kansas City, Mo. | Acquisition Corp. Leawood, Kan. | Oct. 28,'05 | Jan. 1 | 10.9 | 10.9 | 2.10 | 13.05 | 5 | 111,221 |
| 43 | Texas United Bancshares Inc. La Grange | Express Bank of Texas Round Rock | Oct. 26,'05 | Feb. 14 | 9.4 | 9.4 | 2.18 | NM | 2 | 42,820 |
| 44 | First Financial Bancshares Inc. Kan. | Lawrence Bank Kan. | Oct. 3,'05 | Jan. 6 | 8.9 | 8.9 | 2.27 | 28.48 | 2 | 33,494 |
| 45 | BancKentucky Inc. Murray | Murray Banc Holding Co. LLC Ky. | Jan. 30,'06 | March 31 | 8.5 | 8.5 | 1.27 | 14.17 | 2 | 158,213 |
| 46 | Beulah Bancorp. Inc. Sioux Falls, S.D. | Valley Bank and Trust Mapleton, Iowa | Nov. 4,'05 | Feb. 23 | 8.1 | 8.1 | 1.33 | 10.85 | 2 | 51,183 |
| 47 | Pulaski Financial Corp. St. Louis | CWE Bancorp Inc. Saint Louis | Oct. 25,'05 | March 31 | 7.6 | 7.3 | 1.64 | 30.04 | 2 | 50,245 |
| 48 | Investor group | R&J Financial Corp. Elma, Iowa | Sept. 29,'05 | Jan. 1 | 6.6 | 6.6 | 1.19 | 13.82 | 1 | 80,114 |
| 49 | First Sleepy Eye Bancorp. Inc. Sioux Falls, S.D. | Stearns Bank Evansville Minn. | Oct. 17,'05 | Jan. 5 | 6.0 | 6.0 | 1.16 | 7.07 | 1 | 41,520 |
| 50 | FC Holdings Inc. Houston | Lake Area National Bank Trinity, Texas | Jult. 29,'05 | Jan. 31 | 5.5 | 5.5 | 1.72 | 33.33 | 2 | 20,316 |
| 51 | Tonganoxie Bankshares Inc. Kan. | Overbrook Bankshares Inc. Kan. | Dec. 21,'05 | March 3 | 3.5 | 3.5 | 1.30 | 30.60 | 1 | 21,119 |
| 52 | Buena Vista Bancorp Inc. Chester, Ill. | Citizens Community Bank of Decatur Ill. | July 1,'05 | Jan. 13 | 1.5 | 1.5 | 1.12 | NM | 1 | 13,798 |
| 53 | Plymouth Bancorp Inc. Kirkwood, Mo. | Community State Bank of Plymouth Ill. | Sept. 26,'05 | Jan. 3 | 1.5 | 1.5 | 1.36 | 26.79 | 1 | 10,580 |
| 54 | Davis Bancshares Inc. McClusky, N.D. | Underwood Holding Co. Inc. N.D. | June 15,'05 | Jan. 1 | NA | NA | NA | NA | 2 | 24,491 |
| 55 | First Republic Bank San Francisco | First Signature Bank and Trust Co. Portsmouth, N.H. | Aug. 3,'05 | Jan. 31 | NA | NA | NA | NA | 1 | 503,016 |
| 56 | Fishback Financial Corp. Brookings, S.D. | FMB Bankshares Inc. Sioux Falls, S.D. | Nov. 8,'05 | March 31 | NA | NA | NA | NA | 5 | 160,628 |
| 57 | Investor group | Citizens Central Bancorp Inc. Macomb, Ill. | April 27,'05 | Feb. 1 | NA | NA | NA | NA | 8 | 232,106 |
| 58 | Mesquite Financial Services Inc. Alice, Texas | Nichols Bancshares Inc. Kenedy, Texas | Dec. 6,'05 | March 1 | NA | NA | NA | NA | 1 | 41,784 |
| 59 | Peoples Bancorp Rock Valley, Iowa | Pipestone County Bancorp Jasper, Minn. | Oct. 13,'05 | March 10 | NA | NA | NA | NA | 1 | 17,197 |
| 60 | RLJ Cos. LLC | Worldwide Financial Investors Inc. Marietta, Ga. | Aug. 28,'05 | March 14 | NA | NA | NA | NA | 1 | 9,471 |
| 61 | Salem Five Cents Savings Bank Mass. | Heritage Cooperative Bank Salem, Mass. | Aug. 11,'05 | Feb. 10 | NA | NA | NA | NA | 5 | 267,012 |
| 62 | FC Banc Corp. Bucyrus, Ohio | Monitor Bancorp Inc. Big Prairie, Ohio | July 25,'05 | March 31 | 5.3 | NA | NA | NA | 1 | NA |
| 63 | Illinois Bancshares Inc. Karnak | First State Bank of Grand Chain Ill. | Aug. 23,'03 | Feb. 2 | 1.1 | NA | NA | NA | 2 | NA |
| 64 | UCBH Holdings Inc. San Francisco | Great Eastern Bank New York | Oct. 13,'05 | Feb. 21 | 103.6 | NA | NA | NA | 5 | NA |
Source: SNL Financial, Charlottesville, Va.
© 2006 American Banker