Government-Assisted Bank Transactions
October 21, 2009, 3:28 p.m. EDT 1 Min Read
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Government-Assisted Bank Transactions
Government-Assisted Bank TransactionsCompleted in the Third Quarter of 2009. Ranked by assets sold. Dollars in thousands. | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Buyer | Target | Type of transaction | Date of announcement | Premium paid | Total assets at assumption | Assets sold in resolution | Total deposits at assumption | Deposit transferred | Franchise premium as % of deposits | Estimated cost to regulatory agency | |
| 1 | BB&T Corp. Winston-Salem, N.C. | Colonial Bank Montgomery, Ala. | Purchase/assumption | Aug. 14 | $555,997 | $25,455,112 | $21,800,000 | $20,072,099 | $20,072,099 | 2.8 | $2,800,000 |
| 2 | Banco Bilbao Vizcaya Argentaria SA Spain | Guaranty Bank Austin | Purchase/assumption | Aug. 21 | 0 | 14,382,000 | 12,000,000 | 11,716,000 | 10,991,380 | 0.0 | 3,000,000 |
| 3 | First Financial Bancorp. Cincinnati | Irwin Union B&TC and Irwin Union B ank FSB | Purchase/assumption | Sep. 18 | 14,599 | 3,193,000 | 3,193,000 | 2,541,000 | 1,829,096 | 1.0 | 850,000 |
| 4 | MB Financial Inc. Chicago | Corus Bank Chicago | Purchase/assumption | Sep. 11 | 12,977 | 7,000,000 | 3,000,000 | 6,638,150 | 6,554,150 | 0.2 | 1,700,000 |
| 5 | State Bank and Trust Co. Pinehurst, Ga. | Six bank subsidiaries in Georgia | Purchase/assumption | July 24 | NA | 2,791,000 | 2,400,000 | 2,402,000 | 2,402,000 | NA | 807,000 |
| 6 | First Citizens Bancorp. Inc. Columbia, S.C. | Georgian Bank Atlanta | Purchase/assumption | Sep. 25 | NA | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | NA | 892,000 |
| 7 | Zions Bancorp. Salt Lake City | Vineyard Bank Corona, Calif. | Purchase/assumption | July 17 | 0 | 1,855,830 | 1,800,000 | 1,589,379 | 1,455,379 | 0.0 | 579,000 |
| 8 | Central Bancorp Inc. Garland, Texas | Mutual Bank Harvey, Ill. | Purchase/assumption | July 31 | 15,215 | 1,600,000 | 1,600,000 | 1,600,000 | 1,521,478 | 1.0 | 696,000 |
| 9 | First Citizens BancShares Inc. Raleigh | Temecula Valley Bank Temecula, Calif. | Purchase/assumption | July 17 | 0 | 1,500,000 | 1,500,000 | 1,300,000 | 996,000 | 0.0 | 391,000 |
| 10 | PacWest Bancorp San Diego | Affinity Bank Ventura, Calif. | Purchase/assumption | Aug. 28 | 0 | 1,000,000 | 1,000,000 | 922,000 | 870,000 | 0.0 | 254,000 |
| 11 | First Citizens BancShares Inc. Raleigh | Venture Bank Lacey, Wash. | Purchase/assumption | Sep. 11 | 0 | 970,000 | 874,000 | 903,000 | 903,000 | 0.0 | 298,000 |
| 12 | PrivateBancorp Inc. Chicago | Founders Bank Worth, Ill. | Purchase/assumption | July 2 | 11,505 | 962,500 | 843,000 | 843,000 | 767,000 | 1.5 | 188,500 |
| 13 | First Financial Bancorp. Cincinnati | Peoples Community Bank West Chester, Ohio | Purchase/assumption | July 31 | 6,585 | 594,000 | 594,000 | 538,000 | 439,000 | 1.5 | 129,500 |
| 14 | Iberiabank Corp. Lafayette, La. | CapitalSouth Bank Birmingham, Ala. | Purchase/assumption | Aug. 21 | -8,055 | 617,000 | 589,000 | 546,000 | 537,000 | -1.5 | 151,000 |
| 15 | Central Bancshares Inc. Minn. | Mainstreet Bank Forest Lake, Minn. | Purchase/assumption | Aug. 28 | 434 | 459,000 | 459,000 | 434,000 | 434,000 | 0.1 | 95,000 |
| 16 | M&T Bank Corp. Buffalo | Bradford Bank Baltimore | Purchase/assumption | Aug. 28 | NA | 452,000 | 452,000 | 383,000 | 383,000 | NA | 97,000 |
| 17 | Stearns Financial St. Cloud, Minn. | First State Bank Sarasota, Fla. | Purchase/assumption | Aug. 7 | 857 | 463,000 | 451,000 | 387,000 | 342,612 | 0.3 | 116,000 |
| 18 | Great Southern Bancorp Inc. Springfield, Mo. | Vantus Bank Sioux City, Iowa | Purchase/assumption | Sep. 4 | 1,840 | 458,000 | 387,000 | 368,000 | 368,000 | 0.5 | 168,000 |
| 19 | MB Financial Inc. Chicago | InBank Oak Forest, Ill. | Purchase/assumption | Sep. 4 | 0 | 206,000 | 206,000 | 200,000 | 136,000 | 0.0 | 66,000 |
| 20 | Home Federal Bancorp Inc. Nampa, Idaho | Community First Bank Prineville, Ore. | Purchase/assumption | Aug. 7 | 1,484 | 209,000 | 197,000 | 182,000 | 148,441 | 1.0 | 45,000 |
| 21 | JJR Bank Holding Co. Inc. Brick, N.J. | First BankAmericano Elizabeth, N.J. | Purchase/assumption | July 31 | NA | 166,000 | 166,000 | 157,000 | 157,000 | NA | 15,000 |
| 22 | United Bank Corp. Barnesville, Ga. | First Coweta Bank Newnan, Ga. | Purchase/assumption | Aug. 21 | 1,454 | 167,000 | 155,000 | 155,000 | 144,000 | 1.0 | 48,000 |
| 23 | Stearns Financial St. Cloud, Minn. | Ebank Atlanta | Purchase/assumption | Aug. 21 | 0 | 143,000 | 143,000 | 130,000 | 130,000 | 0.0 | 63,000 |
| 24 | First Financial Corp. Terre Haute, Ind. | First National Bank of Danville Ill. | Purchase/assumption | July 2 | 7,718 | 166,000 | 133,000 | 147,000 | 144,000 | 5.4 | 24,000 |
| 25 | Midland Financial Co. Oklahoma City | Community Bank of Arizona Phoenix | Purchase/assumption | Aug. 14 | -1,152 | 158,517 | 125,500 | 143,834 | 115,232 | -1.0 | 25,500 |
| 26 | SBT Bancshares Inc. Irving, Texas | Millennium State Bank of Texas Dallas | Purchase/assumption | July 2 | NA | 118,000 | 118,000 | 115,000 | 115,000 | NA | 47,000 |
| 27 | First American Bancorp Athens, Ga. | First Piedmont Bank Winder, Ga. | Purchase/assumption | July 17 | 728 | 115,000 | 111,000 | 109,000 | 72,036 | 1.0 | 29,000 |
| 28 | Western Acquisitions LLC Washington | First State Bank Flagstaff, Ariz. | Purchase/assumption | Sep. 4 | NA | 105,000 | 105,000 | 95,000 | 95,000 | NA | 47,000 |
| 29 | Stearns Financial St. Cloud, Minn. | Community National Bank of Sarasota County Fla. | Purchase/assumption | Aug. 7 | 209 | 97,000 | 94,000 | 93,000 | 83,497 | 0.3 | 24,000 |
| 30 | Harvard Bancshares Inc. Ill. | Rock River Bank Oregon, Ill. | Purchase/assumption | July 2 | 1,404 | 77,000 | 72,900 | 75,800 | 70,184 | 2.0 | 27,600 |
| 31 | Alerus Financial Corp. Grand Forks, N.D. | BankFirst Sioux Falls, S.D. | Purchase/assumption | July 17 | 749 | 275,000 | 72,000 | 254,000 | 230,521 | 0.3 | 91,000 |
| 32 | Hopkins Financial Corp. Mitchell, S.D. | Brickwell Community Bank Woodbury, Minn. | Purchase/assumption | Sep. 11 | 54 | 72,000 | 72,000 | 63,000 | 54,027 | 0.1 | 22,000 |
| 33 | Herring Bancorp Inc. Amarillo, Texas | First State Bank of Altus Okla. | Purchase/assumption | July 31 | 40 | 103,400 | 64,400 | 98,200 | 98,200 | 0.0 | 25,200 |
| 34 | Lincoln State Bank Corp. Ill. | John Warner Bank Clinton, Ill. | Purchase/assumption | July 2 | 2,624 | 70,000 | 63,000 | 64,000 | 64,000 | 4.1 | 10,000 |
| 35 | Central Trust Co. Edina, Minn. | Bank of Wyoming Thermopolis | Purchase/assumption | July 10 | 0 | 70,000 | 55,000 | 67,000 | 49,698 | 0.0 | 27,000 |
| 36 | Heartland Financial USA Inc. Dubuque, Iowa | Elizabeth State Bank Ill. | Purchase/assumption | July 2 | 480 | 55,500 | 53,500 | 48,000 | 48,000 | 1.0 | 11,200 |
| 37 | Stonegate Bank Fort Lauderdale, Fla. | Integrity Bank Jupiter, Fla. | Purchase/assumption | July 31 | 180 | 119,000 | 52,000 | 102,000 | 90,248 | 0.2 | 46,000 |
| 38 | Evans Bancorp Inc. Hamburg, N.Y. | Waterford Village Bank Williamsville, N.Y. | Purchase/assumption | July 24 | 0 | 61,400 | 47,000 | 58,000 | 50,000 | 0.0 | 5,600 |
| 39 | Mascouten Bancorp Inc. Beardstown, Ill. | First State Bank of Winchester Ill. | Purchase/assumption | July 2 | 680 | 36,000 | 33,000 | 34,000 | 34,000 | 2.0 | 6,000 |
| 40 | First Financial Lawrence, Kan. | First Bank of Kansas City Mo. | Purchase/assumption | Sep. 4 | NA | 15,723 | 15,723 | 14,479 | 14,479 | NA | 6,000 |
| 41 | Midland Financial Co. Oklahoma City | Union Bank Gilbert, Ariz. | Purchase/assumption | Aug. 14 | 140 | 124,000 | 11,000 | 112,000 | 22,600 | 0.6 | 61,000 |
| 42 | PNC Financial Services Group Inc. Pittsburgh | Dwelling House Savings & Loan Assn. Pittsburgh | Purchase/assumption | Aug. 14 | 0 | 13,397 | 3,000 | 13,766 | 13,766 | 0.0 | 6,800 |
| Average for all 42 transactions | $17,964 | 1,630,842 | 1,359,762 | 1,374,136 | 1,310,598 | 0.7 | $333,117 | ||||
Note: List is based on information about third-quarter 2009 transactions that was available as of Oct. 9, 2009. All transactions were assisted by the FDIC
Source: SNL Financial, Charlottesville, Va.
© 2009 American Banker