Bank and Thrift Merger Deals Completed 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 Completed in the First Quarter of 2009
Bank and Thrift Merger Deals Completed in the First Quarter of 2009Ranked by price at completion | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Rank | Buyer | Seller | Date: | | | Seller's | ||||
| Announced | | Announced | | Equity | | Branches | Assets | |||
| 1 | Banco Santander SA Boadilla del Monte, Spain | Sovereign Bancorp Inc. Philadelphia | Oct. 13, '08 | Jan. 30 | $1,909.9 | $1,210.2 | 21.80 | NM | 747 | $77,321,406 |
| 2 | Capital One Financial Corp. McLean, Va. | B.F. Saul Co. Chevy Chase, Md. 1 | Dec. 3, '08 | Feb. 27 | 520.0 | 478.2 | 58.82 | NM | 257 | 15,499,467 |
| 3 | MatlinPatterson LLC New York | Flagstar Bancorp Inc. Troy, Mich. | Dec. 17, '08 | Jan. 30 | 250.0 | 250.0 | NA | NA | 175 | 14,159,369 |
| 4 | Tower Bancorp Inc. Greencastle, Pa. | Graystone Financial Corp. Lancaster, Pa. | Nov. 12, '08 | Mar. 31 | 54.7 | 68.2 | NM | NM | 12 | 615,897 |
| 5 | USAmeriBancorp Inc. Largo, Fla. | Liberty Bank Clearwater, Fla. | Aug. 22, '08 | Jan. 1 | 14.9 | 14.9 | 117.52 | NM | 1 | 78,126 |
| 6 | Big Country Bancshares Inc. Abilene, Texas | Texas Country Bancshares Inc. Brady 2 | Oct. 31, '08 | Feb. 20 | 13.5 | 13.5 | 158.95 | 13.83 | 2 | 81,698 |
| 7 | Midland States Bancorp Inc. Effingham, Ill. | Waterloo Bancshares Inc. Ill. | Nov. 13, '08 | Feb. 13 | 8.6 | 8.6 | 135.14 | NM | 7 | 122,835 |
| 8 | BMC Bancshares Inc. Dallas | First National Bank Graford, Texas | Jun. 26, '08 | Feb. 17 | 5.5 | 5.5 | 126.79 | 25.35 | 3 | 43,745 |
| 9 | First Trust Corp. New Orleans | Globe Bancorp Inc. Metairie, La. | Jul. 2, '08 | Feb. 12 | 5.2 | 5.1 | 93.01 | NM | 1 | 27,589 |
| 10 | JTNB Bancorp Inc. Jim Thorpe, Pa. | Nesquehoning Savings Bank Pa. | Oct. 29, '08 | Jan. 1 | 4.5 | 4.5 | 122.88 | NM | 2 | 35,794 |
| 11 | P/R Bancorp Carmel, Ind. | Symphony Bancorp Indianapolis | Nov. 3, '08 | Jan. 1 | 3.9 | 3.9 | 54.52 | NM | 1 | 56,688 |
| 12 | Foundation First Corp. Omaha | Western State Bancshares Inc. Waterloo, Neb. | Jul. 30, '08 | Jan. 30 | 3.0 | 3.0 | 199.21 | NM | 1 | 13,565 |
| 13 | Summerfield Financial Services LLC Fremont, Neb. | Bancook Corp. Cook, Neb. 3 | Sep. 22, '08 | Jan. 1 | 1.8 | 1.8 | 220.05 | NM | 1 | 6,582 |
| 14 | First Wagoner Corp. Okla. | Green Country Bancorp. Inc. Ketchum, Okla. | Jan. 1 | Jan. 1 | NA | NA | NA | NA | 2 | 24,284 |
| 15 | Investor Group | First National Bank of Altheimer Ark. | Jul. 9, '08 | Mar. 31 | NA | NA | NA | NA | 1 | 12,294 |
| 16 | Liberty Financial Services Inc. New Orleans | United Bank and Trust Co. New Orleans | Feb. 2 | Mar. 31 | NA | NA | NA | NA | 4 | 25,378 |
| 17 | WBSB Bancorp MHC West Bend, Wis. | Continental Savings Bank FSB Greenfield, Wis. | Jun. 27, '08 | Jan. 1 | NA | NA | NA | NA | 8 | 200,321 |
(
1
) Target is Chevy Chase FSB (Bethesda, Md.)(
2
) Target is Citizens Bank (Abilene, Texas)(
3
) Target is First National Bank of Summerfield (Kan.)Data as of April 12th
Source:SNL Financial
, Charlottesville, Va.© 2009 American Banker