Bank and Thrift Merger Deals Completed in the Fourth Quarter of 2009
February 10, 2010, 1:17 p.m. EST 1 Min Read
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Bank and Thrift Merger Deals Completed in the Fourth Quarter of 2009
Bank and Thrift Merger Deals Completed in the Fourth Quarter of 2009Ranked by date of completion | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Rank | Target name | Date | Deal value ($ millions) | Price to Book (%) | Price to LTM Earnings (x) | |||||
| Completed | Announced | at announcement | at completion | at announcement | at completion | at announcement | at completion | |||
| 1 | Community Trust Financial Corp. La. | First Louisiana Bancshares Inc. La. | Oct. 1 | April 16 | NA | NA | NA | NA | NA | NA |
| 2 | Premier Financial Bancorp Inc. W.Va. | Abigail Adams National Bancorp Inc. D.C. | Oct. 1 | Dec. 30 ’08 | $11.6 | $10.3 | 44.08% | 44.74% | NM | NM |
| 3 | Glacier Bancorp Inc. Mont. | First Co. Wyo. | Oct. 2 | Feb. 6 | 17.5 | 17.2 | 119.57 | 123.84 | NM | 21.43 |
| 4 | Happy Bancshares Inc. Texas | First Canadian Bancorp Inc. Texas | Oct. 4 | June 30 | 8.9 | 8.9 | 110.38 | 99.43 | 27.38 | 15.11 |
| 5 | Carolina Trust Bank N.C. | Carolina Commerce Bank N.C. | Oct. 15 | June 3 | 5.2 | 4.9 | 53.37 | 58.63 | NM | NM |
| 6 | Tri Valley Bancshares Inc. Neb. | Tri Valley Bank Neb. | Oct. 15 | May 14 | 1.9 | 1.9 | 108.14 | 108.02 | NM | NA |
| 7 | Sandhills Bancshares Inc. Texas | TransPecos Banks-Iraan Texas | Oct. 16 | May 20 | 5.0 | 5.0 | 199.04 | 191.35 | 26.08 | 24.50 |
| 8 | Cache Holdings Inc. Okla. | Healthcare Bancorp Inc. Okla. | Oct. 17 | June 23 | 8.1 | 8.1 | 175.88 | 181.82 | NM | NM |
| 9 | Investor group | Panther Community Bank Fla. | Oct. 23 | April 23 | 17.5 | 17.5 | 122.74 | 143.24 | NM | NM |
| 10 | Northwest Bancorp Inc. MHC Pa. | Keystone State Savings Bank Pa. | Oct. 23 | Jan. 29 | NA | NA | NA | NA | NA | NA |
| 11 | Danvers Bancorp Inc. Mass. | Beverly National Corp. Mass. | Oct. 30 | June 16 | 60.9 | 62.0 | 144.40 | 147.52 | NM | NM |
| 12 | CB Bancshares Corp. Kan. | Citizens Bank of Weir Kan. | Oct. 31 | Feb. 23 | 0.5 | 0.5 | 82.44 | 90.29 | NM | NM |
| 13 | Farmers Bancorp Inc. Tenn. | First State Bank Tenn. | Oct. 31 | April 29 | 9.3 | 9.3 | 175.04 | 168.57 | NM | NM |
| 14 | First America Holdings Corp. Fla. | MRCB Holdings Inc. Fla. | Nov. 1 | April 6 | NA | 6.3 | NA | NM | NA | NM |
| 15 | First Oklahoma Holdings Inc. | Glencoe State Bank Okla. | Nov. 4 | June 11 | NA | NA | NA | NA | NA | NA |
| 16 | Investor group | Bank of Santa Barbara Calif. | Nov. 6 | July 10 | 10.1 | 8.6 | 160.00 | 160.01 | NM | NM |
| 17 | Max Bancorp LLC N.Y. | Sandhills Holding Co. Inc. S.C. | Nov. 10 | Aug. 12 | NA | NA | NA | NA | NA | NA |
| 18 | Pratt Community Bancshares Inc. Kan. | First Pratt Bankshares Inc. Kan. | Nov. 10 | Jan. 22 | 10.0 | 10.0 | 114.51 | 111.06 | 16.14 | NM |
| 19 | Central Bancorp Inc. Colo. | Farmers and Stockmens Bank of Clayton N.M. | Nov. 11 | June 3 | 7.5 | 7.5 | 138.84 | 140.34 | 8.12 | 8.05 |
| 20 | Klein Financial Inc. Minn. | Community Bank Plymouth Minn. | Nov. 11 | July 2 | NA | NA | NA | NA | NA | NA |
| 21 | Educational Services of America Inc. Tenn. | Community Bank of the Cumberlands Tenn. | Nov. 20 | July 15 ’08 | 20.0 | 20.0 | 220.70 | 396.67 | NM | NM |
| 22 | Howard County Land and Cattle Co. Neb. | Central Bancorp. Neb. | Nov. 30 | July 1 | NA | NA | NA | NA | NA | NA |
| 23 | Investor group | Three Shores Bancorp. Inc. Fla. | Nov. 30 | Nov. 30 | 40.0 | 40.0 | NA | NA | NA | NA |
| 24 | United Financial Bancorp Inc. Mass. | CNB Financial Corp. Mass. | Nov. 30 | June 25 | 24.8 | 24.3 | 124.23 | 121.39 | NM | 31.17 |
| 25 | Quontic Bank Acquisition Corp. N.Y. | Golden First Bank N.Y. | Dec. 1 | May 12 | NA | NA | NA | NA | NA | NA |
| 26 | CBM Florida Holding Co. Inc. N.Y. | Community Bank of Manatee Fla. | Dec. 3 | June 2 | 11.5 | 11.5 | NA | NA | NA | NA |
| 27 | First Farmers Financial Corp. Ind. | C.B. Bank Shares Inc. Ind. | Dec. 4 | Aug. 13 | NA | NA | NA | NA | NA | NA |
| 28 | BancFirst Corp. Okla. | First Jones Bancorp. Inc. Okla. | Dec. 8 | Sept. 18 | NA | NA | NA | NA | NA | NA |
| 29 | Edgar County Banc Shares Inc. Ill. | First National Bank of Gilman Ill. | Dec. 14 | Aug. 19 | NA | NA | NA | NA | NA | NA |
| 30 | R. Dean Phillips (private investor) Ill. | HNB National Bank Mo. | Dec. 21 | Nov. 21 | 28.0 | 28.0 | 93.74 | 93.74 | NM | NM |
| 31 | Xenith Corp. Va. | First Bankshares Inc. Va. | Dec. 22 | May 21 | NA | NA | NA | NA | NA | NA |
| 32 | Four Oaks Fincorp Inc. N.C. | Nuestro Banco N.C. | Dec. 31 | April 29 | 2.7 | 1.9 | 29.09 | 22.90 | NM | NM |
| 33 | NB&T Financial Group Inc. Ohio | Community National Corp. Ohio | Dec. 31 | June 30 | 6.9 | 7.5 | 78.69 | 88.91 | NM | NM |
Source: SNL Financial, Charlottesville, Va.
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