Bank and Thrift Whole Deals Closed in the Second Quarter
Published July 13, 2001, 10:08 a.m. EDT
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Updated January 02, 1970, 9:08 a.m. EST
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Bank and Thrift Whole Deals Closed in the Second Quarter
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| Published July 13, 2001 | |
| Rank | Buyer | Target | Announcement | Closing date | Total Purchase Price Announced | Total Purchase Price Completion | Completion price | Completion price to LTM net income | Target Branches | Target total assets |
| 1 | Fifth Third Bancorp Cincinnati | Old Kent Financial Corp. Grand Rapids, Mich. | Nov. 20 '00 | Apr. 2 '01 | $4,947,005 | $5,513,703 | 3.1 | 19.7 | 340 | $22,518,600 |
| 2 | Royal Bank of Canada Toronto | Centura Banks Inc. Rocky Mount, N.C. | Jan. 26 '01 | Jun. 5 '01 | 2,314,467 | 2,092,241 | 2.1 | 16.52 | 245 | 11,482,009 |
| 3 | BB&T Corp. Winston-Salem, N.C. | Century South Banks Inc. Alpharetta, Ga. | Dec. 5 '00 | Jun. 7 '01 | 426,462 | 465,366 | 2.83 | 27.4 | 52 | 1,614,497 |
| 4 | FBOP Corp. Oak Park, Ill. | PBOC Holdings Inc Los Angeles | Dec. 11 '00 | Apr. 30 '01 | 198,762 | 198,337 | 0.93 | 6.28 | 21 | 3,276,687 |
| 5 | BB&T Corp. Winston-Salem, N.C. | Virginia Capital Bancshares Inc. Fredericksburg, Va. | Jan. 24 '01 | Jun. 27 '01 | 175,581 | 176,104 | 1.1 | 22.61 | 4 | 532,675 |
| 6 | Hudson River Bancorp Inc. Hudson, N.Y. | Cohoes Bancorp Inc. Cohoes, N.Y. | Nov. 24 '00 | Apr. 20 '01 | 160,698 | 159,263 | 1.24 | 24.38 | 20 | 739,335 |
| 7 | Trustmark Corp. Jackson, Miss. | Barret Bancorp Inc. Barretville, Tenn. | Dec. 13 '00 | Apr. 6 '01 | 102,450 | 102,345 | 1.18 | 15.78 | 19 | 516,489 |
| 8 | Community Bank System Inc. De Witt, N.Y. | First Liberty Bank Corp. Jermyn, Pa. | Nov. 29 '00 | May 11 '01 | 87,074 | 99,711 | 1.59 | 21.65 | 13 | 646,661 |
| 9 | Financial Institutions Inc. Warsaw, N.Y. | Bath National Corp. Bath, N.Y. | Nov. 2 '00 | May 1 '01 | 62,585 | 62,585 | 2.27 | N/A | 11 | 287,343 |
| 10 | Chittenden Corp. Burlington, Vt. | Maine Bank Corp. Portland, Maine | Jan. 26 '01 | Apr. 30 '01 | 49,250 | 49,250 | 1.78 | 14.16 | 15 | 236,239 |
| 11 | F.N.B. Corp. Naples, Fla. | Citizens Community Bancorp Marco Island, Fla. | Dec. 18 '00 | Apr. 30 '01 | 38,056 | 48,336 | 2.59 | 76.16 | 4 | 154,418 |
| 12 | Hancock Holding Co. Gulfport, Miss. | Lamar Capital Corp. Purvis, Miss. | Jan. 31 '01 | Jun. 30 '01 | 47,379 | 47,379 | 1.24 | 18.26 | 9 | 415,495 |
| 13 | Texas Financial Bancorp. Minneapolis | First National Bank of Texas Decatur, Tex. | Jan. 26 '01 | May 31 '01 | 43,493 | 44,400 | 1.64 | 10.46 | 7 | 335,011 |
| 14 | Royal Bancshares of Pennsylvania Narberth, Pa. | Crusader Holding Co. Philadelphia | Mar. 13 '01 | Jun. 22 '01 | 37,300 | 42,700 | 1.02 | 4.18 | 2 | 406,349 |
| 15 | MB Financial Inc. Chicago | FSL Holdings Inc. South Holland, Ill. | Feb. 9 '01 | May 15 '01 | 41,305 | 41,305 | 1.27 | 20.18 | 1 | 218,938 |
| 16 | Charles Schwab Corp. San Francisco | Resource Companies Inc. Minneapolis | Dec. 7 '00 | Apr. 30 '01 | 39,961 | 39,961 | 2.54 | 11.94 | 2 | 107,682 |
| 17 | Community First Banking Co. Carrollton, Ga. | First Deposit Bancshares Inc. Douglasville, Ga. | Jan. 18 '01 | May 23 '01 | 29,670 | 33,279 | 1.3 | 22.25 | 2 | 141,422 |
| 18 | GB&T Bancshares Inc. Gainesville, Ga. | Community Trust Finanical Services Hiram, Ga. | Feb. 2 '01 | Jun. 30 '01 | 37,049 | 31,240 | 1.8 | 23.5 | 6 | 156,549 |
| 19 | Pocahontas Bancorp Inc. Pocahontas, Ark. | Walden/Smith Financial Group Inc. Jonesboro, Ark. | Jan. 4 '01 | May 15 '01 | 27,919 | 27,400 | 1.74 | .N/A | 8 | 162,608 |
| 20 | Boiling Springs Bancorp Rutherford, N.J.** | Ridgewood Financial Inc. Ridgewood, N.J. | Sep. 21 '00 | Jun. 29 '01 | 26,903 | 26,903 | 2.27 | .N/A | 6 | 285,686 |
| 21 | First Bancorp Troy, N.C. | Century Bancorp Inc. Thomasville, N.C. | Oct. 20 '00 | May 17 '01 | 21,658 | 26,097 | 1.38 | 31.67 | 2 | 102,376 |
| 22 | Bannister Bank and Trust Co. Kansas City, Mo. | Pembroke Bancshares Inc. Kansas City, Mo. | Jan. 2 '01 | May 1 '01 | 26,000 | 26,000 | 3.6 | 24.28 | 8 | 196,051 |
| 23 | PSB Bancorp Inc. Philadelphia | Jade Financial Corp. Feasterville, Pa. | Nov. 2 '00 | Jun. 29 '01 | 25,378 | 25,378 | 0.88 | .N/A | 4 | 214,876 |
| 24 | First Farmers and Merchants Corp Columbia, Tenn. | Peoples and Union Bank Lewisburg, Tenn. | Dec. 15 '00 | Apr. 27 '01 | 24,957 | 24,957 | 2.18 | 10.59 | 4 | 162,212 |
| 25 | Jefferson County Bancshares Inc. Festus, Mo. | Perry County Financial Corp . Perryville, Mo. | Jan. 26 '01 | Jun. 29 '01 | 17,657 | 17,657 | 1.36 | 28.3 | 1 | 96,134 |
| 26 | NBT Bancorp Inc. Norwich, N.Y. | First National Bancorp Inc. Norfolk, N.Y. | Jan. 2 '01 | Jun. 1 '01 | 15,064 | 15,821 | 1.59 | 17.16 | 7 | 114,239 |
| 27 | Sun Bancorp Inc. Selinsgrove, Pa. | Guaranty Bank Shamokin, Pa. | Jan. 16 '01 | May 31 '01 | 14,791 | 14,791 | 1.86 | 11.43 | 6 | 125,401 |
| 28 | PremierWest Bancorp Medford, Ore. | Timberline Bancshares Inc. | Oct. 17 '00 | Apr. 16 '01 | 14,021 | 14,252 | 1.64 | 16.87 | 8 | 96,584 |
| 29 | CKF Bancorp Inc. Danville, Ky. | First Lancaster Bancshares Inc. Lancaster, Ky. | Dec. 15'00 | Jun. 1 '01 | 13,802 | 13,802 | 1.14 | 62.43 | 2 | 57,126 |
| 30 | State National Bancshares Lubbock, Tex. | Ruidoso Bank Corp. Ruidoso, N.M. | May 10 '00 | May 18 '01 | 12,500 | 12,500 | 1.1 | 5.6 | 4 | 112,214 |
| 31 | Southern Community Bancorp Orlando* | Peninsula Bancorp Inc. Daytona Beach, Fla. | Sep. 26 '00 | Apr. 30 '01 | 10,256 | 10,256 | 1.08 | 65.74 | 1 | 44,318 |
| 32 | Boston Bank of Commerce Boston | Founders National Bank Los Angeles | Oct. 25 '00 | Apr. 30 '01 | 10,200 | 10,200 | 1.45 | 13.47 | 5 | 109,308 |
| 33 | Liberty Bank Middletown, Conn. | Hometown Bank Moodus, Conn. | Jan. 23 '01 | Jun. 30 '01 | 9,300 | 9,300 | 1.55 | 14.58 | 3 | 62,001 |
| 34 | FNB Corp. Christiansburg, Va. | SWVA Bancshares Inc. Roanoke, Va. | Aug. 8 '00 | Apr. 30 '01 | 8,700 | 8,400 | 1.12 | 20.34 | 5 | 84,301 |
| 35 | ABC Bancorp Moultrie, Ga. | Tri County Bank Trenton, Fla. | Dec. 4 '00 | Apr. 13 '01 | 7,200 | 7,575 | 1.54 | 13.06 | 35 | 812,716 |
| 36 | Innovative Bancorp Calabasas, Calif. | Bank of Oakland Oakland, Calif. | Jul. 28 '00 | Apr. 2 '01 | 6,460 | 6,460 | 1.19 | 9.89 | 1 | 56,624 |
| 37 | Heartland Bancorp Inc. Bloomington, Ill. | Chenoa Corp. Chenoa, Ill. | Mar. 20 '01 | May 31 '01 | 6,069 | 6,069 | 1.48 | 17.34 | 2 | 35,271 |
| 38 | United Financial Holdings St. Petersburg, Fla. | First Security Bank Sarasota, Fla. | Oct. 6 '00 | Apr. 1 '01 | 5,500 | 5,366 | 1.14 | .N/A | 2 | 23,226 |
| 39 | First Mid-Illinois Bancshares Mattoon, Ill. | American Bank of Illinois- Highland | Jan. 25 '01 | Apr. 20 '01 | 3,700 | 3,700 | 1.24 | .N/A | 2 | 33,417 |
| 40 | Heartland Bancorp Inc. Bloomington, Ill. | Court Acceptance Co. Pekin, IL | Jan. 25 '01 | May 1 '01 | 3,650 | 3,650 | 1.69 | 26.26 | 2 | 25,148 |
| 41 | One American Corp. Vacherie, La. | Schwegmann Bank and Trust Co. Harvey, La. | Feb. 2 '01 | May 25 '01 | 2,675 | 2,675 | 1.14 | .N/A | 4 | 34,026 |
| 42 | Citizens Union Bancorp of Shelbyville Ky. | Dupont State Bank Dupont, Ind. | Nov. 26 '00 | Apr. 30 '01 | 2,528 | 2,528 | 1.51 | 22.77 | 3 | 19,972 |
| 43 | Investor group Ashby, Minn. | Ashby Bancshares Inc. Ashby, Minn. | Dec. 15 '00 | May 1 '01 | 1,700 | 1,700 | 1.23 | 11.33 | 2 | 18,621 |
| 44 | Sanwa Bank Ltd. Osaka, Japan | Tokai Bank Ltd. Aichi, N/A | Mar. 14 '00 | Jun. 29 '01 | N/A | .N/A | .N/A | .N/A | 13 | 1,974,674 |
| 45 | Countrywide Credit Industries Inc. Calabasas, Calif. | Treasury Bank Washington | Aug. 16 '00 | May 18 '01 | N/A | .N/A | .N/A | .N/A | 1 | 114,991 |
| 46 | Citizens State Bank of Dickinson Dickinson, Tex. | League City Bank and Trust Co. League City, Tex. | Jan. 17 '01 | May 11 '01 | N/A | .N/A | .N/A | .N/A | 4 | 108,577 |
| 47 | Gardiner Savings Institution Gardiner, Maine | Augusta Federal Savings Bank Augusta, Maine | Dec. 5 '00 | May 19 '01 | N/A | .N/A | .N/A | .N/A | 3 | 101,295 |
| 48 | Central Bancshares Inc. Lexington, Ky. | Salt Lick Bancorp Inc. Owingsville, Ky. | May 14 '01 | May 14 '01 | N/A | .N/A | .N/A | .N/A | 3 | 47,938 |
*Merger of equals. **Hostile or unsolicited transaction
Source: Thomson Financial Sheshunoff Information Services (www.sheshunoff.com)
©2001 American Banker