Bank and Thrift Merger Deals Terminated in the First Half of 2010
August 10, 2010, 4:20 p.m. EDT 1 Min Read
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Bank and Thrift Merger Deals Terminated in the First Half of 2010
Bank and Thrift Merger Deals Terminated in the First Half of 2010Ranked by deal value at termination | |||||||
|---|---|---|---|---|---|---|---|
| Rank | Buyer | Target | Terminated | Announced | Deal value (millions) | Price/Book | Price/LTM earnings (x) |
| 1 | Pennsylvania Commerce Bancorp Inc. | Republic First Bancorp Inc. Pa. | March 15 | Nov. 7 '08 | $123.80 | 133.87% | NM |
| 2 | Diamond Bancorp Inc. Ill. | DG Bancorp Inc. Ill. | April 14 | Oct. 14 '09 | 14.30 | 58.33 | NM |
| 3 | Florida Shores Bancorp Inc. | Coastal Bancorp. Inc. Fla. | March 3 | Dec. 23 '09 | 12.20 | 100.00 | NM |
| 4 | Bank4Texas Holdings Inc. | Northern Bancshares Inc. Texas | March 25 | Aug. 5 '09 | 7.50 | 168.83 | 41.21 |
| 5 | Bancorp Inc. Del. | American Home Bank Ill. | March 16 | April 1 '09 | 7.00 | NM | NM |
| 6 | First Waterloo Bancshares Inc. Ill. | Red Bud Bancorp Inc. Ill. | Jan. 22 | Sep. 17 '09 | 4.60 | 53.26 | NM |
| 7 | Austin Bancshares Inc. | La Grange Bancshares Inc. Texas | June 17 | May 1 '09 | 3.20 | 150.45 | NM |
| 8 | Artisan Financial Corp. Ill. | Valley Community Bancorp Inc. Ill. | Jan. 22 | July 10 '09 | 2.80 | 67.25 | NM |
| 9 | OSK Inc. Minn. | Texico Bancshares Corp. Ill. | June 23 | Nov. 20 '09 | 2.50 | NM | NM |
| 10 | WestBridge Bancshares Inc. Mo. | Westbridge Bank and Trust Mo. | April 26 | Nov. 24 '09 | 0.50 | NM | NM |
| 11 | Adam Bank Group Inc. Fla. | Three bank subsidiaries in Florida | May 28 | May 21 | NA | NA | NA |
| 12 | Badger Capital LLC Ill. | Anchor BanCorp Wisconsin Inc. | March 31 | Dec. 1 '09 | NA | NA | NA |
| 13 | BW Acquisition LLC Utah | Utah Community Bancorp | Feb. 12 | Sep. 15 '09 | NA | 82.24 | NM |
| 14 | Family Bancorp Inc. Texas | Medina Bankshares Inc. Texas | June 2 | Dec. 3 '09 | NA | NA | NA |
| 15 | Investor group | Palm Bancorp Inc. Fla. | May 13 | Jan. 30 | NA | NA | NA |
| 16 | Investor group | Colonial American Bank Pa. | June 9 | Dec. 31 '09 | NA | 79.73 | NM |
| 17 | North Asia Investment Corp. | Pacific City Financial Corp. Calif. | April 28 | Jan. 11 | NA | NA | NA |
| 18 | Tri-Capital LLC Calif. | Tri-Valley Bank Calif. | June 4 | March 15 | NA | 61.98 | NM |
| 19 | W. Jeffrey Knowles Nev. | Centennial Bank Utah | March 5 | Sep. 16 '09 | NA | 45.30 | NM |
Source: First and second-quarter data from SNL Financial, Charlottesville, Va., aggregated by American Banker
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