Bank and Thrift Merger Deals Completed in the First Quarter of 2010
April 29, 2010, 12:33 p.m. EDT 1 Min Read
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Bank and Thrift Merger Deals Completed in the First Quarter of 2010
Bank and Thrift Merger Deals Completed in the First Quarter of 2010Ranked by price at completion | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
Rank | Buyer | Seller | Date | Price (millions) | Completed price to: | Target's | ||||
Announced | Completed | Announced | At completion | Equity | 12-mo. net | Assets ($000) | Branches | |||
1 | Banco Sabadell SA Spain | Bank of New York Mellon Corp. (1) | Jul. 20, '09 | Jan. 15 | $157.7 | $160.7 | 87.44 | NM | $2,371,823 | 15 |
2 | Union Bankshares Corp. Bowling Green, Va. | Ukrop's Super Markets Inc. Richmond, Va. (2) | Mar. 30, '09 | Feb. 1 | 105.4 | 96.1 | 75.14 | 27.03 | 1,300,888 | 40 |
3 | United Community Bancorp Inc. Chatham Ill. | Mercantile Bancorp Inc. Quincy, Ill. (3) | Nov. 22, '09 | Feb. 26 | 27.9 | 28.1 | 128.04 | 8.06 | 277,956 | 5 |
4 | Stockmens Limited Partnership Rapid City, S.D. | Valentine Bancorp. Neb. | Oct. 6, '09 | Feb. 1 | 6.1 | 6.1 | 129.4 | NM | 102,768 | 1 |
5 | EB Financial Group Inc. Hinsdale, Ill. | Baytree Bancorp Inc. Lake Forest, Ill. (4) | Oct. 27, '09 | Jan. 28 | 1.5 | 1.5 | 91.9 | NM | 210,646 | 3 |
6 | Alcar LLC New York | Darien Rowayton Bank Darien, Conn. | Jun. 29, '09 | Jan. 12 | NA | NA | 89.3 | NM | 118,243 | 2 |
7 | American Bancor Ltd. Dickinson, N.D. | Towner County Financial Corp. Cando, N.D. | Nov. 6, '09 | Jan. 8 | NA | NA | NA | NA | 46,924 | 2 |
8 | Apollo Bancshares Inc. Coral Gables, Fla. | Union Credit Bank Miami | Nov. 30, '09 | Mar. 13 | NA | NA | 69.9 | NM | 154,172 | 2 |
9 | Bridgewater Financial MHC Raynham, Mass. | East Bridgewater Savings Bank Mass. | Oct. 9, '09 | Jan. 1 | NA | NA | NA | NA | 138,438 | 3 |
10 | Community Trust Financial Corp. Ruston, La. | Madison Financial Corp. Miss. | Sep. 11, '09 | Mar. 5 | NA | NA | NA | NA | 68,044 | 3 |
11 | Connecticut Mutual Holding Co. Winsted | Collinsville Savings Mutual Holding Co. Conn. | Mar. 27, '09 | Jan. 1 | NA | NA | NA | NA | 156,265 | 2 |
12 | Excel Bancorp LLC St. Clairsville, Ohio | Ohio Legacy Corp. Wooster | Nov. 15, '09 | Feb. 19 | NA | NA | 82.4 | NM | 186,292 | 4 |
13 | HomeTrust Bank, Clyde N.C. | Industrial Federal Savings Bank Lexington, N.C. | Oct. 13, '09 | Feb. 1 | NA | NA | NA | NA | 168,441 | 3 |
14 | Investor group | First Southern Bancorp Inc. Boca Raton, Fla. | Feb. 2 | Feb. 2 | NA | NA | NA | NA | 394,347 | 5 |
15 | Investor group | Riverside Central Florida Banking Co. Winter Park | Oct. 5, '09 | Jan. 30 | NA | NA | 85.9 | NM | 141,326 | 4 |
16 | Investor group | Texas Enterprise Bank Bryan | Sep. 18, '09 | Jan. 5 | NA | NA | 113.95 | NM | 64,549 | 2 |
17 | Meridian Interstate Bancorp Inc. (MHC) East Boston | Mt. Washington Co-operative Bank South Boston | Jul. 20, '09 | Jan. 4 | NA | NA | NA | NA | 517,675 | 7 |
18 | Piedmont Community Bank Holdings Inc. Chapel Hill, N.C. | VantageSouth Bank Burlington, N.C. | Jun. 10, '09 | Feb. 22 | NA | NA | 84.58 | NM | 95,723 | 2 |
19 | Rbancshares Inc. Westerville, Ohio | Ohio State Bancshares Inc. Marion | Oct. 20, '09 | Mar. 31 | NA | NA | 83.19 | NM | 161,210 | 5 |
20 | Two Roa LLC, Huntsville, Ala. | RB Bancorp. Athens, Ala. | Oct. 7, '09 | Mar. 26 | NA | NA | 100.2 | NM | 154,065 | 6 |
(
1
) Target is Gibraltar Private Bank and Trust Co. (Coral Gables, Fla.) (
2
) Target is Community First Bank (Corydon, Ind.) (
3
) Target is Yuma Community Bank (Ariz.) (
4
) Target is Exchange State Bank (Springville, Iowa) Back to Top
Note: Data as of April 15, 2010.
Source:
SNL Financial
, Charlottesville, Va. © 2010 American Banker