Bank and Thrift Merger Deals Completed in the Second Quarter of 2008
July 24, 2008, 10:08 a.m. EDT 1 Min Read
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Bank and Thrift Merger Deals Completed in the Second Quarter of 2008
Bank and Thrift Merger Deals Completed in the Second Quarter of 2008Ranked by price at completion Published July 24, 2008 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Rank | Buyer | Seller | Date | Price (millions) | | Seller's | ||||
| Announced | Completed | Announced | Completed | Equity | | Branches | | |||
| 1 | Fifth Third Bancorp Cincinnati | First Charter Corp. Charlotte | Aug. 15 '07 | Jun 6 | $1,088.6 | $1,088.6 | 2.35 | 31.56 | 63 | $4,795,861 |
| 2 | National Australia Bank Melbourne | Great Western Bancorp. Inc. Omaha | Nov. 29 '07 | Jun 4 | 798.0 | 798.0 | 2.96 | 20.03 | 103 | 3,579,472 |
| 3 | PNC Financial Services Group Inc. Pittsburgh | Sterling Financial Corp. Lancaster, Pa. | July 19 '07 | Apr4 | 559.9 | 537.4 | 4.87 | NM | 68 | 3,286,643 |
| 4 | F.N.B. Corp. Hermitage, Pa. | Omega Financial Corp. State College, Pa. | Nov. 8 '07 | Apr 1 | 378.1 | 398.8 | 1.19 | 18.90 | 67 | 1,789,100 |
| 5 | S&T Bancorp Inc. Indiana, Pa. | IBT Bancorp Inc. Irwin, Pa. | Dec. 16 '07 | Jun 6 | 173.7 | 180.9 | 2.60 | 22.51 | 10 | 827,191 |
| 6 | SunTrust Banks Inc. Atlanta | GBank and Trust Bancshares Inc. Gainesville, Ga. | Nov. 2 '07 | May 1 | 154.7 | 124.2 | 0.57 | NM | 29 | 1,939,012 |
| 7 | Prosperity Bancshares Inc. Houston | 1st Choice Bancorp Inc. Houston | Feb. 7 '08 | Jun 1 | 66.7 | 74.9 | 2.92 | 16.76 | 2 | 313,880 |
| 8 | Hampton Roads Bankshares Inc. Norfolk, Va. | Shore Financial Corp. Onley, Va. | Jan. 8 '08 | May 30 | 55.8 | 54.4 | 1.94 | 21.38 | 8 | 267,131 |
| 9 | Community Bankers Acquisition Corp. Alexandria, Va. | BOE Financial Services of Virginia Inc. Tappahannock | Dec. 13 '07 | May 31 | 52.0 | 52.0 | 1.71 | 21.41 | 7 | 315,848 |
| 10 | Community Bankers Acquisition Corp. Alexandria, Va. | TransCommunity Financial Corp. Glen Allen, Va. | Sept. 5 '07 | May 31 | 48.7 | 48.7 | 1.54 | 17.93 | 5 | 251,725 |
| 11 | First Bancorp Troy, N.C. | Great Pee Dee Bancorp Inc. Cheraw, S.C. | July 12 '07 | Apr 1 | 37.5 | 41.8 | 1.50 | 37.36 | 3 | 221,435 |
| 12 | First Citizens Bancorp. Inc. Columbia, S.C. | Merchants and Farmers Bank Comer, Ga. | March 4 '08 | Jun 1 | 36.8 | 36.8 | 1.82 | 12.67 | 6 | 156,411 |
| 13 | Bank Iowa Corp. West Des Moines | Hansen Bancorp. Lawler, Iowa | Jan. 30 '08 | Apr 7 | 30.8 | 30.8 | 1.55 | 31.96 | 4 | 194,072 |
| 14 | Tompkins Financial Corp. Ithaca, N.Y. | Sleepy Hollow Bancorp Inc. N.Y. | Nov. 9 '07 | May 8 | 30.2 | 30.2 | 3.02 | NM | 6 | 243,198 |
| 15 | Liberty Financial Services Inc. Sioux City, Iowa | Haugo Bancshares Inc. Sioux Falls, S.D. | March 14 '08 | Jun 16 | 20.0 | 20.0 | 2.54 | 33.23 | 5 | 75,951 |
| 16 | Watertown Savings Bank N.Y. | Northern New York Bancorp Inc. Watertown | Sept. 4 '07 | Jun 11 | 18.7 | 18.7 | 2.27 | NM | 5 | 91,057 |
| 17 | Frandsen Financial Corp. Arden Hills, Minn. | Anderson Financial Group Inc. Wayzata, Minn. | March 13 '08 | May 22 | 17.6 | 17.6 | 3.95 | 44.35 | 4 | 137,146 |
| 18 | Premier Financial Bancorp Inc. Huntington, W.Va. | Traders Bankshares Inc. Spencer, W.Va. | Nov. 27 '07 | Apr 30 | 18.1 | 17.2 | 1.38 | 60.14 | 4 | 105,322 |
| 19 | Krey Co. Ltd. Pratt, Kan. | SCB Financial Corp. Smith Center, Kan. | Feb. 12 '08 | Jun 13 | 16.0 | 16.0 | 2.21 | 36.63 | 2 | 63,196 |
| 20 | Frandsen Financial Corp. Arden Hills, Minn. | F&O Inc. Montgomery, Minn. | Oct. 31 '07 | Apr 3 | 14.6 | 14.6 | 2.03 | 61.37 | 1 | 60,850 |
| 21 | First Financial Service Corp. Elizabethtown, Ky. | FSB Bancshares Inc. Lanesville, Ind. | March 19 '08 | Jun 25 | 14.0 | 14.0 | 1.41 | 22.58 | 4 | 64,141 |
| 22 | Four Oaks Fincorp Inc. N.C. | Longleaf Community Bank Rockingham, N.C. | Dec. 10 '07 | Apr 17 | 13.4 | 13.0 | 1.71 | NM | 2 | 59,066 |
| 23 | Regent Capital Corp. Nowata, Okla. | Regent Bancshares Inc. Nowata, Okla. | July 25 '07 | Apr 1 | 11.8 | 11.8 | 1.57 | NM | 3 | 92,544 |
| 24 | Premier Financial Bancorp Inc. Huntington, W.Va. | Citizens First Bank Inc. Ravenswood, W.Va. | Oct. 24 '07 | Apr 30 | 11.7 | 11.7 | 1.98 | 20.49 | 2 | 59,638 |
| 25 | Wisconsin Bancorp Inc. Milwaukee | Mid America Bank Footville, Wis. | Dec. 28 '07 | Jun 13 | 8.5 | 8.5 | 2.42 | NM | 3 | 38,373 |
| 26 | First Graham Bancorp Inc. Tex. | Surety Capital Corp. Fort Worth | Feb. 7 '08 | Apr 18 | 8.7 | 8.5 | NM | NM | 1 | 36,651 |
| 27 | Frandsen Financial Corp. Arden Hills, Minn. | Tower Bancshares Inc. Cloquet, Minn. | March 13 '08 | May 22 | 7.1 | 7.1 | 2.69 | 17.53 | 3 | 57,082 |
| Red River Bancorp Inc. Gainesville, Tex. | Saint Jo Bancshares Inc. Tex. | Dec. 21 '07 | Apr 25 | 7.1 | 7.1 | 1.59 | 17.13 | 2 | 36,242 | |
| 29 | First Place Financial Corp. Warren, Ohio | OC Financial Inc. Dublin, Ohio | April 2 '08 | Jun 30 | 7.5 | 5.6 | 0.97 | NM | 2 | 68,538 |
| 30 | Kerndt Bank Services Inc. Lansing, Iowa | Family Merchants Bancorp. Inc. Cedar Rapids, Iowa | Dec. 17 '07 | May 22 | 5.4 | 5.4 | 1.75 | NM | 1 | 39,100 |
| 31 | First Community Bancshares Inc. Batesville, Ark. | Goodman State Bank Goodman, Mo. | Feb. 26 '08 | May 19 | 3.1 | 3.1 | 1.99 | 47.88 | 3 | 13,727 |
| Andrews Holding Co. Tex. | Kenco Bancshares Inc. Jayton, Tex. | Nov. 30 '07 | Apr 21 | 3.1 | 3.1 | 3.19 | NM | 2 | 22,210 | |
| 33 | First NBC Bank Holding Co. New Orleans | Dryades Bancorp Inc. New Orleans | Nov. 15 '07 | Apr 22 | 3.0 | 3.0 | 1.07 | NM | 4 | 80,154 |
| 34 | Dairyland Bancorp Inc. Bruce, Wis. | Old Murry Bancorp Cameron, Wis. | Sept. 26 '07 | Apr 14 | 2.8 | 2.8 | 0.97 | 22.44 | 5 | 51,012 |
| Osage Bancshares Inc. Pawhuska, Okla. | Barnsdall State Bank Barnsdall, Okla. | Nov. 5 '07 | Apr 1 | 2.8 | 2.8 | 1.67 | NM | 1 | 12,102 | |
| 36 | Buena Vista Bancorp Inc. Chester, Ill. | North Adams Bancshares Inc. Ursa, Ill. | Feb. 12 '08 | May 30 | 2.1 | 2.1 | 1.65 | NM | 1 | 8,866 |
| 37 | River Valley Bancorp Inc. Davenport, Iowa | Horizon Financial Services Corp. Oskaloosa, Iowa | Oct. 2 '07 | Apr 25 | 2.7 | 2.0 | 0.46 | NM | 4 | 104,029 |
| 38 | Mills Financial Services Inc. Brainerd, Minn. | Madison Agency Inc. Sioux Falls, S.D. | Oct. 17 '07 | Apr 24 | 1.9 | 1.9 | 1.65 | 33.69 | 1 | 11,076 |
| 39 | Milton Bancorp Inc. Wellston, Ohio | Community First Financial Bancorp Inc. New Holland, Ohio | Nov. 30 '07 | Apr 1 | 1.7 | 1.7 | 2.37 | NM | 2 | 23,168 |
| 40 | Central Bancorp Inc. Garland, Tex. | Jones County Bank Haddock, Ga. | Feb. 8 '08 | May 31 | 1.4 | 1.4 | 3.40 | NM | 1 | 4,934 |
| 41 | First National Bank Holding Co. Scottsdale, Ariz. | New Mexico First Financial Inc. Las Cruces | June 25 '07 | Jun 10 | NA | NA | NA | NA | 1 | 15,124 |
| 42 | Investors Bancorp MHC Short Hills, N.J. | Summit Federal Bankshares MHC Summit, N.J. | Aug. 3 '07 | Jun 6 | NA | NA | NA | NA | 5 | 112,191 |
| 43 | Commerce Financial Corp. Corpus Christi | Security State Bancshares Inc. Stockdale, Tex. | Dec. 21 '07 | May 30 | NA | NA | NA | NA | 1 | 24,284 |
| 44 | First Liberty Capital Corp. Hugo, Colo. | Ore Bancorp. Leadville, Colo. | Feb. 29 '08 | May 23 | NA | NA | NA | NA | 1 | 23,999 |
| 45 | Blackhawk Bancorp. Inc. Milan, Ill. | Princeton/Leclaire Agency Inc. Iowa | Feb. 29 '08 | May 19 | NA | NA | NA | NA | 3 | 73,719 |
| 46 | Mount Washington Co-operative Bank South Boston, Mass. | Roxbury-Highland Co-operative Bank Jamaica Plain, Mass. | Dec. 28 '07 | May 16 | NA | NA | NA | NA | 1 | 25,135 |
| 47 | Harvard Savings MHC Ill. | Morris Building and Loan Savings Bank Ill. | July 24 '07 | Apr 21 | NA | NA | NA | NA | 1 | 32,869 |
| 48 | First Bank and Trust Co. Duncan, Okla. | Waurika National Bank Okla. | Nov. 16 '07 | Apr 11 | NA | NA | NA | NA | 1 | 16,908 |
| 49 | Labette County Bankshares Inc. Altamont, Kan. | Miners Bancshares Inc. Frontenac, Kan. | Dec. 12 '07 | Apr 5 | NA | NA | NA | NA | 1 | 39,105 |
| 50 | Floridian Financial Group Inc. Daytona Beach, Fla. | Orange Bank of Florida Orlando | Oct. 31 '07 | Apr 1 | NA | NA | NA | NA | 6 | 156,580 |
| 51 | Merchants Bancorp of Pennsylvania Inc. Kittanning | Snyder Holding Corp. Kittanning, Pa. | Nov. 15 '07 | Apr 1 | NA | NA | NA | NA | 3 | 186,270 |
Note: Data as of July 8, 2008.
Source:SNL Financial
, Charlottesville, Va.© 2008 American Banker