Bank and Thrift Merger Deals Terminated in the Fourth Quarter of 2010
February 15, 2011, 3:15 p.m. EST 1 Min Read
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Bank and Thrift Merger Deals Terminated in the Fourth Quarter of 2010
Bank and Thrift Merger Deals Terminated in the Fourth Quarter of 2010Ranked by date of termination. Dollars in millions | |||||||
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Rank | Target name | Terminated | Announced | Deal value | Price/ Book (%) | Price/LTM earnings (x) | |
1 | Trustmark Corp. Miss. | Cadence Financial Corp. Miss. | Oct. 6 | Sep. 21 | $54.7 | 32.09% | NM |
2 | Zaring Group Holdings LLC Ill. | First Suburban Bancorp Corp. Ill. | Oct. 22 | Aug. 25 | NA | NA | NA |
3 | BCOM Financial Holdings LLC Fla. | Cortez Community Bank Fla. | Oct. 29 | Feb. 22 | NA | 60.56 | NM |
4 | Aris Financial Corp. Calif. | PNB Bancshares Inc. Ill | Nov. 6 | Feb. 1 | NA | NA | NA |
5 | Northwest Bancshares Inc. Pa. | NexTier Inc. Pa. | Nov. 8 | May 5 | 20.3 | 83.13 | NM |
6 | Naugatuck Valley Financial Corp. MHC Conn. | Southern Connecticut Bancorp Inc. | Nov. 12 | Feb. 22 | 18.2 | 115.98 | NM |
7 | Kirkwood BanCorp. Co. N.D. | Eagle Valley Bank Wis. | Nov. 15 | July 22 | NA | NA | NA |
8 | Continental Bank Holdings Inc. Pa. | First Resource Bank Pa. | Nov. 18 | May 12 | 8.0 | 85.54 | NM |
Source: SNL Financial, Charlottesville, Va.
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