Bank and Thrift Merger Deals Completed in the Third Quarter of 2007
October 18, 2007, 10:08 a.m. EDT 1 Min Read
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Bank and Thrift Merger Deals Completed in the Third Quarter of 2007
Bank and Thrift Merger Deals Completed in the Third Quarter of 2007Ranked by price at completion Published October 18, 2007 | ||||||||||
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| Related Table: Deals With Highest Completed Price to Equity | ||||||||||
| Date | Price (millions) | completion to: | | |||||||
| Buyer | Seller | Announced | Completed | Announced | Completed | Equity | | Branches | | |
| 1 | Bank of New York Co. Inc. | Mellon Financial Corp. Pittsburgh | Dec. 3 '06 | July 1 | $16,864.40 | $18,632.40 | NM | NM | 47 | $42,666,000 |
| 2 | Banco Bilbao Vizcaya Argentaria SA Bilbao, Spain | Compass Bancshares Inc. Birmingham, Ala. | Feb. 16 '07 | Sept. 7 | 10,163.9 | 9,484.6 | 3.17 | 20.64 | 419 | 34,199,755 |
| 3 | State Street Corp. Boston | Investors Financial Services Corp. Boston | Feb. 4 '07 | July 2 | 4,493.6 | 4,273.8 | 4.17 | 27.24 | 1 | 11,552,590 |
| 4 | Huntington Bancshares Inc. Columbus, Ohio | Sky Financial Group Inc. Bowling Green, Ohio | Dec. 20 '06 | July 1 | 3,592.1 | 3,315.4 | 1.72 | 17.33 | 339 | 15,920,631 |
| 5 | Bank of America Corp. Charlotte | Charles Schwab Corp. San Francisco | Nov. 19 '06 | July 1 | 3,300.0 | 3,300.0 | 2.45 | 25.01 | 29 | 11,115,945 |
| 6 | National City Corp. Cleveland | MAF Bancorp Inc. Clarendon Hills, Ill. | April 30 '07 | Sept. 1 | 1,918.4 | 1,918.4 | 1.75 | 25.63 | 82 | 11,120,499 |
| 7 | Merrill Lynch & Co. Inc. New York | First Republic Bank San Francisco | Jan. 29 '07 | Sept. 21 | 1,784.3 | 1,784.3 | 2.24 | 32.02 | 43 | 10,713,224 |
| 8 | Doral Holdings San Juan, Puerto Rico | Doral Financial Corp. San Juan, Puerto Rico | May 16 '07 | July 19 | 610.0 | 610.0 | NM | NM | 44 | 11,856,424 |
| 9 | First Busey Corp. Urbana, Ill. | Main Street Trust Inc. Champaign, Ill. | Sept. 20 '06 | July 31 | 348.7 | 307.0 | NM | NM | 22 | 1,556,144 |
| 10 | United Bankshares Inc. Charleston, W.Va. | Premier Community Bankshares Inc. Winchester, Va. | Jan. 26 '07 | July 14 | 200.1 | 187.9 | 2.55 | 23.90 | 26 | 900,711 |
| 11 | Beneficial Mutual Bancorp Inc. Philadelphia | FMS Financial Corp. Burlington, N.J. | Oct. 12 '06 | July 13 | 183.0 | 183.0 | 2.30 | 37.57 | 42 | 1,244,639 |
| 12 | East West Bancorp Inc. Pasadena, Calif. | Desert Community Bank Victorville, Calif. | April 24 '07 | Aug. 17 | 148.2 | 148.2 | 2.53 | 25.99 | 10 | 531,984 |
| 13 | Renasant Corp. Tupelo, Miss. | Capital Bancorp Inc. Nashville | Feb. 5 '07 | July 1 | 139.8 | 122.4 | 3.38 | 30.09 | 7 | 564,442 |
| 14 | Ridgewood Savings Bank New York | City and Suburban Financial Corp. Yonkers, N.Y. | Feb. 22 '07 | July 16 | 119.1 | 119.1 | 2.20 | 19.69 | 11 | 669,944 |
| 15 | Marshall & Ilsley Corp. Milwaukee | Excel Bank Corp. Minneapolis | Feb. 9 '07 | July 1 | 105.0 | 105.0 | 2.59 | 20.31 | 4 | 615,307 |
| 16 | LSB Bancshares Inc. Lexington, N.C. | FNB Financial Services Corp. Greensboro, N.C. | Feb. 26 '07 | July 31 | 127.7 | 100.8 | NM | NM | 17 | 1,010,773 |
| 17 | Berkshire Hills Bancorp Inc. Pittsfield, Mass. | Factory Point Bancorp Inc. Manchester Center, Vt. | May 14 '07 | Sept. 21 | 81.5 | 80.0 | 2.71 | 17.47 | 7 | 339,378 |
| 18 | Boston Private Financial Holdings Inc. | Charter Financial Corp. Bellevue, Wash. | March 3 '07 | July 1 | 72.9 | 69.6 | 3.37 | 23.20 | 4 | 321,672 |
| 19 | Columbia Banking System Inc. Tacoma | Mountain Bank Holding Co. Enumclaw, Wash. | March 28 '07 | July 23 | 60.0 | 60.0 | 2.65 | 26.68 | 7 | 229,910 |
| 20 | First Texas BHC Inc. Fort Worth | SWB Bancshares Inc. Fort Worth | March 20 '07 | July 16 | 60.0 | 60.0 | 3.59 | 28.13 | 7 | 298,004 |
| 21 | Superior Bancorp Birmingham, Ala. | Peoples Community Bancshares Inc. Sarasota, Fla. | Jan. 18 '07 | July 27 | 75.9 | 59.9 | 2.32 | 17.40 | 3 | 322,602 |
| 22 | Inland Bancorp Holding Co. Oak Brook, Ill. | Amerimark Financial Corp. Countryside, Ill. | April 4 '07 | Sept. 4 | 45.7 | 45.7 | 2.36 | NM | 4 | 269,569 |
| 23 | Columbia Banking System Inc. Tacoma | Town Center Bancorp Portland, Ore. | March 28 '07 | July 23 | 45.3 | 40.3 | 2.96 | 18.73 | 5 | 133,404 |
| 24 | CapitalSouth Bancorp Birmingham, Ala. | Monticello Bancshares Inc. Jacksonville, Fla. | Feb. 28 '07 | Sept. 14 | 41.2 | 36.6 | 1.83 | 25.57 | 2 | 227,827 |
| 25 | FirstBank Corp. Alma, Mich. | ICNB Financial Corp. Ionia, Mich. | Feb. 1 '07 | July 1 | 38.4 | 36.4 | 1.54 | 34.10 | 10 | 235,486 |
| 26 | Heartland Bancorp Inc. Bloomington, Ill. | Illinois Mutual Life and Casualty Co. Peoria | March 15 '07 | Aug. 1 | 33.6 | 33.6 | 1.43 | NM | 8 | 288,747 |
| 27 | Mercantile Bancorp Inc. Quincy, Ill. | HNB Financial Services Inc. Hannibal, Mo. | Feb. 8 '07 | Sept. 7 | 30.2 | 30.4 | 1.78 | 25.60 | 5 | 159,914 |
| 28 | Commerce Bancshares Inc. Kansas City, Mo. | Commerce Bankshares Inc. Aurora, Colo. | April 2 '07 | July 1 | 29.5 | 29.5 | 3.32 | 18.00 | 1 | 96,797 |
| 29 | CBFH Inc. | County Bancshares Inc. Newton, Tex. | Feb. 16 '07 | Aug. 1 | 26.0 | 26.0 | 1.98 | 17.75 | 7 | 134,417 |
| 30 | New England Bancshares Inc. Enfield, Conn. | First Valley Bancorp Inc. Bristol, Conn. | Nov. 21 '06 | July 12 | 25.6 | 25.3 | 2.40 | NM | 2 | 184,753 |
| 31 | Citizens National Corp. Paintsville, Ky. | Kentucky National Bank of Pikeville | March 9 '07 | July 26 | 23.3 | 23.3 | 2.13 | 17.34 | 2 | 76,532 |
| 32 | 1st Pacific Bancorp La Jolla, Calif. | Landmark National Bank Solana Beach, Calif. | Feb. 22 '07 | July 1 | 24.6 | 23.1 | 1.29 | 32.52 | 3 | 125,016 |
| 33 | Florida Bank Group Inc. Tampa | Cygnet Financial Corp. Ponte Vedra Beach, Fla. | May 21 '07 | Sept. 1 | 22.0 | 22.0 | 1.33 | NM | 1 | 110,737 |
| 34 | Assabet Valley Bancorp Hudson, Mass. | Westborough Financial Services Inc. Mass. | Nov. 13 '06 | Aug. 24 | 20.6 | 20.6 | 2.11 | NM | 5 | 299,672 |
| 35 | Pinnacle Financial Corp. Elberton, Ga. | Georgia Central Bancshares Inc. Social Circle | March 19 '07 | July 30 | 18.4 | 18.4 | 2.34 | NM | 3 | 93,533 |
| 36 | SouthCrest Financial Group Inc. Fayetteville, Ga. | Bank of Chickamauga Ga. | Feb. 23 '07 | July 1 | 18.0 | 18.0 | 3.26 | 35.71 | 2 | 67,984 |
| 37 | Prosperity Bancshares Inc. Houston | Bank of Navasota Tex. | May 1 '07 | Aug. 31 | 17.3 | 17.0 | 1.87 | 16.54 | 1 | 73,758 |
| 38 | Southwest Bancorp Inc. Stillwater, Okla. | Hart Food Stores Inc. Hutchinson, Kan. | Feb. 2 '07 | July 27 | 12.9 | 15.3 | 2.27 | 44.85 | 2 | 74,580 |
| 39 | First Guaranty Bancshares Inc. Hammond, La. | Homestead Bancorp Inc. Ponchatoula, La. | Jan. 4 '07 | July 30 | 13.1 | 13.1 | 1.27 | 43.63 | 3 | 131,886 |
| 40 | BankFive MHC Fall River, Mass. | New Bedford Community Bancorp Mass. | Feb. 20 '07 | July 13 | 12.5 | 12.5 | 1.68 | 18.68 | 2 | 69,159 |
| 41 | PCBA Acquisition LLC Ark. | Premier Commercial Bancorp Anaheim, Calif. | March 1 '07 | Sept. 21 | 11.0 | 11.0 | 1.36 | NM | 1 | 16,142 |
| 42 | Bangor Bancorp MHC Maine | Pepperell Bancshares Financial Group Inc. Biddeford, Maine | June 1 '07 | July 31 | 10.0 | 10.0 | 1.85 | NM | 5 | 103,017 |
| 43 | Pinnacle Bancorp Inc. Central City, Neb. | Farmers and Merchants Bank Imperial, Neb. | Jan. 11 '07 | Aug. 25 | 9.5 | 9.5 | 0.98 | 12.60 | 1 | 46,156 |
| 44 | First Bank Lubbock Bancshares Inc. Tex. | Wilson Bancshares Inc. Wilson, Tex. | Feb. 27 '07 | July 2 | 6.5 | 6.5 | 1.15 | NM | 2 | 47,566 |
| 45 | BOC Holdings Corp. Fort Worth | Crowley Holding Co. Crowley, Tex. | June 5 '07 | Aug. 10 | 6.2 | 6.2 | 2.33 | 19.87 | 1 | 24,338 |
| 46 | Cooperative Bankshares Inc. Wilmington, N.C. | Bank of Jefferson S.C. | March 6 '07 | July 2 | 5.5 | 5.5 | 2.67 | NM | 1 | 14,791 |
| 47 | First Centralia Bancshares Inc. Kan. | Vermillion Bankshares Inc. Kan. | March 31 '07 | July 11 | 3.8 | 3.5 | 1.17 | NM | 1 | 16,366 |
| 48 | Rice Bancshares Inc. Ennis, Tex. | First State Bank Rice, Tex. | March 12 '07 | Aug. 30 | 2.5 | 2.5 | 2.63 | 51.02 | 1 | 11,560 |
| Butler Bancorp MHC Lowell, Mass. | Marlborough Bancorp Mass. | Dec. 13 '06 | July 2 | NA | NA | NA | NA | 2 | 86,386 | |
| Fidelity Co. Dubuque, Iowa | Northwest Financial Corp. Spencer, Iowa | Feb. 6 '07 | July 13 | NA | NA | NA | NA | 2 | 96,792 | |
| First Capital Bancshares Inc. Chillicothe, Ohio | Deerfield Bancshares Inc. Clarksburg, Ohio | May 8 '07 | Sept. 7 | NA | NA | NA | NA | 1 | 16,791 | |
| MountainOne Financial Partners MHC North Adams, Mass. | South Coastal Holdings MHC Inc. Rockland, Mass. | Jan. 22 '07 | July 1 | NA | NA | NA | NA | 4 | 225,705 | |
| Zions Bancorp. Salt Lake City | Intercontinental Bank Shares Corp. San Antonio | June 18 '07 | Sept. 6 | NA | NA | NA | NA | 3 | 105,232 | |
Note: Data as of October 4, 2007
Source: SNL Financial, Charlottesville, Va.
© 2007 American Banker