Bank and Thrift Merger Deals Terminated in the Fourth Quarter of 2009
February 10, 2010, 1:00 p.m. EST 1 Min Read
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Bank and Thrift Merger Deals Terminated in the Fourth Quarter of 2009
Bank and Thrift Merger Deals Terminated in the Fourth Quarter of 2009Ranked by date of termination | |||||||
|---|---|---|---|---|---|---|---|
| Rank | Target name | Terminated | Announced | Deal value ($ millions) | Price/ Book (%) | Price/LTM earnings (x) | |
| 1 | 1st Financial Services Corp. N.C. | AB&T Financial Corp. N.C. | Oct. 1 | Feb. 16 | $17.30 | 71.57% | NM |
| 2 | SP Acquisition Holdings Inc. N.Y. | Frontier Financial Corp. Wash. | Oct. 5 | 30-Jul | 40.8 | 67.34 | NM |
| 3 | First Business Bank Calif. | 1st Pacific Bancorp Calif. | Oct. 28 | 16-Jul | 7 | 31.18 | NM |
| 4 | Access 1st Capital Bank Texas | Town Center Bank Texas | Oct. 30 | 1-Jun | NA | NA | NA |
| 5 | Eastern Virginia Bankshares Inc. | First Capital Bancorp Inc. Va. | Nov. 9 | 3-Apr | 26.1 | 73.17 | NM |
| 6 | New York investor group | 1st Commerce Bank Nev. | Nov. 12 | 13-Jul | 8.5 | 150.01 | NM |
| 7 | Patriot Bancshares Inc. Texas | Texas Community Bank | Nov. 20 | Sept. 4 | NA | NA | NA |
| 8 | MidAtlantic Bancorp Inc. Va. | Greater Atlantic Financial Corp. Va. | Dec. 4 | 15-Jun | 0.3 | NM | NM |
| 9 | OceanFirst Financial Corp. N.J. | Central Jersey Bancorp | Dec. 17 | 26-May | 61.3 | 81.97 | 26 |
| 10 | Royal Asian Bancshares Inc. Pa. | Royal Asian Bank Pa. | Dec. 21 | Sept. 24 | 15 | 112.94 | NM |
Source: SNL Financial, Charlottesville, Va.
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