Largest Branch Deals Announced in 2006
February 13, 2007, 10:08 a.m. EST 1 Min Read
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Largest Branch Deals Announced in 2006
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Published February 13, 2007 | |||||||
Date | Branches | Premium | |||||
Buyer | Seller | Announced | Completed | Number | | ||
1 | Royal Bank of Canada Toronto | Regions Financial Corp. Birmingham, Ala. | Nov. 1 | pending | 39 | $2,000,000 | NA |
2 | M&T Bank Corp. Buffalo | Citigroup Inc. New York | Apr. 25 | 30-Jun | 21 | 1,000,000 | 16.3 |
3 | First South Bancorp Inc. Lexington, Tenn. | Regions Financial Corp. Birmingham, Ala. | Nov. 1 | pending | 7 | 420,012 | NA |
4 | E-Trade Financial Corp. New York | First Republic Bank San Francisco | 2-Mar | pending | NA | 388,000 | 2.8 |
5 | CBS Banc-Corp. Russellville, Ala. | Regions Financial Corp. Birmingham, Ala. | Nov. 1 | pending | 6 | 300,174 | NA |
6 | Independent Bank Corp. Ionia, Mich. | TCF Financial Corp. Wayzata, Minn. | Nov. 6 | pending | 10 | 235,000 | 11.5 |
7 | First Place Financial Corp. Warren, Ohio | Citizens Republic Bancorp Flint, Mich. | Dec. 17 | pending | 7 | 210,000 | 5 |
8 | First Banks Inc. Clayton, Mo. | Beverly Hills Bancorp Inc. Calabasas, Calif. | Aug. 7 | Nov. 3 | 1 | 154,400 | 5.5 |
9 | Commerce Bancshares Inc. Franklin, Tenn. | Regions Financial Corp. Birmingham, Ala. | 1-Jun | Sept. 29 | 6 | 150,000 | NA |
10 | Ameri-National Corp. Overland Park, Kan. | Bridgeview Bancorp Inc. Chicago | 13-Apr | Sept. 18 | 2 | 132,441 | NA |
11 | First Farmers Financial Corp. Converse, Ind. | Fifth Third Bancorp Cincinnati | 31-May | Sept. 23 | 3 | 87,008 | 6.21 |
12 | First National Community Bancorp Inc. Dunmore, Pa. | Harleysville National Corp. Pa. | 26-Jul | Nov. 10 | 1 | 74,155 | 12.41 |
13 | HopFed Bancorp Inc. Hopkinsville, Ky. | AmSouth Bancorp. Birmingham, Ala. | 24-Apr | 29-Jun | 4 | 65,410 | 10 |
14 | Hamilton State Bancshares Inc. Braselton, Ga. | NBank Corp. Commerce, Ga. | Aug. 4 | Oct. 20 | 3 | 59,972 | NA |
15 | Guaranty Capital Corp. Belzoni, Miss. | State Capital Corp. Greenwood, Miss. | Feb. 9 | 23-Jun | 4 | 59,954 | 10 |
16 | First American Bancshares Inc. Luka, Miss. | AmSouth Bancorp. Birmingham, Ala. | 9-Mar | 30-Mar | 4 | 58,705 | 6.13 |
17 | First National Bank Group Inc. Edinburg, Tex. | Texas Regional Bancshares Inc. McAllen | Oct. 10 | pending | 1 | 56,693 | 13.23 |
18 | Overton Financial Corp. Tex. | Heritage Bancshares Inc. Dallas | 21-Mar | 21-Mar | 1 | 54,163 | NA |
19 | Redwood Financial Inc. Redwood Falls, Minn. | Community Bank Group Inc. Eden Prairie, Minn. | 8-May | Oct. 16 | 4 | 52,409 | NA |
20 | First Banks Inc. Clayton, Mo. | Midamerica National Bancshares Inc. Canton, Ill. | 10-Jul | Nov. 10 | 3 | 52,400 | NA |
21 | MainSource Financial Group Inc. Greensburg, Ind. | First Financial Bancorp. Hamilton, Ohio | 24-Apr | Aug. 18 | 5 | 51,000 | 8.82 |
22 | Liberty Bancshares Inc. Alton, Ill. | Grant Park Bancshares Inc. Ill. | 22-May | Oct. 6 | 2 | 50,191 | NA |
23 | Chemical Financial Corp. Midland, Mich. | First Financial Bancorp. Hamilton, Ohio | 12-May | Aug. 18 | 2 | 47,000 | 22.34 |
24 | Commerce Bancshares Inc. Franklin, Tenn. | AmSouth Bancorp. Birmingham, Ala. | 15-Jun | 15-Jun | 1 | 44,827 | 7.36 |
25 | Franklin Bank Corp. Houston | EJ Financial Corp. Dallas | Aug. 22 | Dec. 12 | 2 | 42,700 | 8.5 |
Totals and premiums-to-deposits average for the top 25 | 139 | $5,846,614 | 9.74 | ||||
Totals and premiums-to-deposits average for all branch deals | 233 | $6,989,109 | 7.3 | ||||
Source:
<font size="2">SNL Financial</font>
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