Largest Branch Deals Announced in 2007
Published February 12, 2008, 10:08 a.m. EST
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Updated January 02, 1970, 9:08 a.m. EST
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Largest Branch Deals Announced in 2007
Largest Branch Deals Announced in 2007Ranked by deposits sold | |||||||
|---|---|---|---|---|---|---|---|
| Rank | Buyer | Seller | Date | Branches | Premium | ||
| Announced | Completed | Number | Deposits (in 000s) | ||||
| 1 | New York Community Bancorp Inc. Westbury | Doral Financial Corp. San Juan, Puerto Rico | March 15 | July 26 | 11 | $377,500 | 2.60 |
| 2 | Arvest Bank Group Inc. Bentonville, Ark. | Marshall & Ilsley Corp. Milwaukee | July 25 | Nov. 16 | 3 | 238,956 | NA |
| 3 | M&T Bank Corp. Buffalo | First Horizon National Corp. Memphis | Sept. 21 | Dec. 7 | 13 | 230,000 | NA |
| 4 | Capital Corp of the West Merced, Calif. | Zions Bancorp. Salt Lake City | June 11 | Nov. 2 | 11 | 190,000 | 13.00 |
| 5 | Wells Fargo & Co. San Francisco | National City Corp. Cleveland | Aug. 9 | pending | 3 | 190,000 | NA |
| 6 | Prosperity Bancshares Inc. Houston | Popular Inc. Hato Rey, Puerto Rico | Oct. 22 | pending | 6 | 140,000 | 10.10 |
| 7 | PNB Holding Co. Pontiac, Ill. | First Busey Corp. Urbana, Ill. | July 20 | Nov. 2 | 5 | 102,200 | NA |
| 8 | Sterling Bancshares Inc. Houston | First Horizon National Corp. Memphis | Sept. 19 | pending | 10 | 100,000 | NA |
| 9 | Chemung Financial Corp. Elmira, N.Y. | M&T Bank Corp. Buffalo | Nov. 30 | pending | 3 | 100,000 | 12.95 |
| 10 | Hometown Community Bancorp Inc. Morton, Ill. | Associated Banc-Corp Green Bay, Wis. | July 27 | pending | 7 | 98,000 | NA |
| 11 | Fifth Third Bancorp Cincinnati | First Horizon National Corp. Memphis | Sept. 21 | pending | 9 | 96,913 | NA |
| 12 | Eastern Virginia Bankshares Inc. Tappahannock | Millennium Bankshares Corp. Reston, Va. | Nov. 30 | pending | 2 | 89,000 | 9.25 |
| 13 | Elmira Savings Bank FSB Elmira, N.Y. | First Niagara Financial Group Inc. Lockport, N.Y. | Aug. 10 | Nov. 30 | 4 | 78,900 | 15.50 |
| 14 | Legacy Bancorp Inc. Pittsfield, Mass. | First Niagara Financial Group Inc. Lockport, N.Y. | July 25 | Dec. 7 | 5 | 76,629 | 12.75 |
| 15 | FMCB Holdings Inc. Senoia, Ga. | First Horizon National Corp. Memphis | Sept. 24 | pending | 2 | 76,176 | NA |
| 16 | Kansas Bank Corp. Johnson | Brittany Savings Corp. Olathe, Kan. | Oct. 17 | pending | 3 | 69,270 | NA |
| 17 | ColoEast Bankshares Inc. Lamar, Colo. | Peoples Inc. Colorado Springs, Colo. | March 23 | March 23 | 2 | 61,111 | NA |
| 18 | New Peoples Bankshares Inc. Honaker, Va. | FNB Financial Services Corp. Greensboro, N.C. | April 13 | June 29 | 2 | 60,380 | 8.08 |
| 19 | Metropolitan Bank Group Inc. Chicago | East Side Financial Inc. Chicago | May 17 | pending | 1 | 60,000 | 11.35 |
| 20 | Premier Bancshares Inc. Garland, Tex. | First Banks Inc. Clayton, Mo. | May 17 | July 19 | 2 | 52,000 | 1.92 |
| 21 | BV Financial Inc. Baltimore, | Greater Atlantic Financial Corp. Reston, Va. | April 12 | Aug. 24 | 1 | 51,500 | 8.50 |
| 22 | Union Bankshares Corp. Bowling Green, Va. | Provident Bankshares Corp. Baltimore | May 4 | Sept. 7 | 6 | 43,300 | 11.34 |
| 23 | Waumandee Bancshares Ltd. Wis. | Associated Banc-Corp Green Bay, Wis. | June 27 | pending | 5 | 40,000 | 6.47 |
| 24 | GN Bankshares Inc. Girard, Kan. | Gideon Enterprises LP Topeka, Kan. | July 2 | Aug. 31 | 2 | 38,813 | 6.44 |
| 25 | Arvest Bank Group Inc. Bentonville, Ark. | Grand Capital Corp. Tulsa | Oct. 8 | Dec. 14 | 1 | 35,405 | NA |
| 26 | Marshfield Savings Bank Wis. | Associated Banc-Corp Green Bay, Wis. | May 29 | Oct. 12 | 2 | 35,000 | 8.00 |
| 27 | Peoples Financial Corp. of Illinois Inc. Kewanee | Centrue Financial Corp. Ottawa, Ill. | Dec. 28 | pending | 2 | 34,804 | NA |
| 28 | Klein Financial Inc. Chaska, Minn. | Financial Services of St. Croix Falls Inc. Wis. | May 15 | Aug. 10 | 1 | 31,204 | NA |
| 29 | 1st United Bancorp. Inc. Sidney, Mont. | Heartland Financial USA Inc. Dubuque, Iowa | March 23 | June 22 | 1 | 30,200 | 8.61 |
| 30 | Iowa Community Bancorp Inc. Creston | Heartland Bancshares Inc. Lenox, Iowa | Sept. 27 | pending | 2 | 29,305 | NA |
| 31 | Sac City Limited Carroll, Iowa | Meta Financial Group Inc. Storm Lake, Iowa | Jan. 31 | May 18 | 3 | 28,630 | 8.38 |
| 32 | First Apple River Corp. Apple River, Ill. | Centrue Financial Corp. Ottawa, Ill. | Oct. 24 | pending | 2 | 27,218 | 3.37 |
| 33 | Unite Here New York | Zions Bancorp. Salt Lake City | March 27 | pending | 3 | 27,125 | NA |
| 34 | Community National Bancorp. Waterloo, Iowa | Associated Banc-Corp Green Bay | April 30 | Sept. 21 | 3 | 25,000 | NA |
| 35 | Freedom Bancorp. Inc. Hudson, Wis. | Anchor BanCorp Wisconsin Inc. Madison | Nov. 6 | pending | 4 | 24,058 | NA |
| 36 | Park National Corp. Newark, Ohio | Ohio Legacy Corp Wooster | June 6 | Sept. 21 | 1 | 23,000 | 7.17 |
| 37 | C.C.Bancorp Inc. Little Valley, N.Y. | Great Lakes Bancorp Inc. Buffalo, | Dec. 14 | pending | 2 | 22,000 | 2.66 |
| 38 | Woodford Bancshares,Inc. Monroe, Wis. | Park Bancorp. Inc. Madison | July 6 | pending | 1 | 21,944 | NA |
| 39 | Machias Bancorp MHC Maine | Union Bankshares Co. Ellsworth, Maine | Dec. 20 | pending | 1 | 21,559 | NA |
| 40 | Middlefield Banc Corp. Ohio | Maple Leaf Financial Inc. Newbury, Ohio | March 23 | Aug. 1 | 1 | 21,166 | 10.00 |
| 41 | Waukesha State Bank Wis. | CIB Marine Bancshares Inc. Pewaukee, Wis. | Jan. 19 | May 22 | 1 | 21,000 | NA |
| 42 | SI Financial Group Inc. Willimantic, Conn. | Eastern Federal Bank Norwich, Conn. | Oct. 15 | pending | 1 | 20,000 | NA |
| 43 | East Cambridge Savings Bank Cambridge, Mass. | First Ipswich Bancorp Mass. | Jan. 10 | March 30 | 1 | 18,807 | 3.00 |
| 44 | Mutual Holding Co. of Western Pennsylvania Bethel Park | CB Financial Services Inc. Carmichaels, Pa. | July 9 | Sept. 8 | 1 | 17,000 | 12.00 |
| 45 | Chippewa Valley Agency Ltd. Bruce, Wis. | Associated Banc-Corp Green Bay, Wis. | May 2 | Aug. 13 | 2 | 14,742 | 4.58 |
| 46 | First Bancorp. Inc. La Crosse, Wis. | ACUITY, A Mutual Insurance Co. Sheboygan, Wis. | Jan. 31 | April 16 | 1 | 14,434 | NA |
| 47 | First Citizens Bancorp. Inc. Columbia, S.C. | Synovus Financial Corp. Columbus, Ga. | Sept. 7 | pending | 1 | 14,301 | NA |
| 48 | Indiana Bank Corp. Dana, Ind. | 1st Source Corp. South Bend, Ind. | May 31 | Aug. 20 | 2 | 14,000 | NA |
| 49 | FNB United Corp. Asheboro, N.C. | Capital Bank Corp. Raleigh | Nov. 9 | pending | 1 | 12,528 | NA |
| 50 | Emmetsburg Bank Shares Inc. Emmetsburg, Iowa | Meta Financial Group Inc. Storm Lake, Iowa | Jan. 31 | April 13 | 1 | 12,300 | 8.13 |
| 51 | First Gilmer Bankshares Inc. Gilmer, Tex. | Lone Star Bancshares Inc. Lone Star, Tex. | March 14 | May 18 | 1 | 12,006 | NA |
| 52 | Mackinaw Valley Financial Services Inc. Mackinaw, Ill. | Illini Corp. Springfield, Ill. | Oct. 25 | pending | 1 | 11,200 | 6.25 |
| 53 | MSB Bankshares Inc. Iron River, Mich. | Mackinac Financial Corp. Manistique, Mich. | July 27 | pending | 1 | 10,800 | NA |
| 54 | SI Financial Group Inc. Willimantic, Conn. | Southern Connecticut Bancorp Inc. New Haven | Nov. 13 | pending | 1 | 10,500 | 9.14 |
| 55 | Middlebury National Corp. Middlebury, Vt. | Community Bancorp. Derby, Vt. | Oct. 4 | Dec. 31 | 1 | 8,900 | NA |
| 56 | Southern New Hampshire Bank and Trust Co. Salem | First Ipswich Bancorp Mass. | Feb. 5 | March 30 | 1 | 8,374 | NA |
| 57 | Berkshire Bancorp Inc. Wyomissing, Pa. | Fleetwood Bank Corp. Pa. | Feb. 23 | June 8 | 2 | 7,769 | 3.00 |
| 58 | First Miami Bancshares Inc. Miami, Okla. | Purdy Bancshares Inc. Monett, Mo. | Oct. 23 | pending | 1 | 6,931 | NA |
| 59 | Third Century Bancorp Franklin, Ind. | Somerville National Bank Ohio | Oct. 30 | pending | 1 | 5,322 | NA |
| 60 | Wheatland Bancorp. Iowa | River Valley Bancorp Inc. Davenport, Iowa | Oct. 24 | Dec. 17 | 1 | 5,100 | 7.84 |
| 61 | Blue Ridge Bancshares Inc. Independence, Mo. | Amoret Bancshares Inc. Butler, Mo. | Dec. 14 | pending | 1 | 5,042 | NA |
| 62 | Texas Bank Brownwood | Central Community Corp. Temple | June 30 | June 30 | 1 | 3,380 | NA |
| 63 | Lincoln Park Bancorp Lincoln Park, N.J. | GSL Savings Bank Guttenberg, N.J. | March 8 | July 13 | 1 | 3,200 | NA |
| 64 | Guaranty Financial Corp. Milwaukee | Washington Mutual Inc. Seattle | June 30 | June 30 | 1 | 1,333 | NA |
| 65 | Victory Bancorp Inc. Fort Mitchell, Ky. | Home Savings Bank FSB Ludlow, Ky. | Nov. 30 | pending | 1 | NA | NA |
| Totals and premiums-to-deposits average for the top 25 | 119 | $2,616,053 | 9.24 | ||||
| Totals and premiums-to-deposits average for all branch deals | 295 | $6,053,288 | 8.01 | ||||
Note: Based on data available to SNL on 1/7/2008. Excludes terminated deals.
Source:
SNL Financial
, Charlottesville, Va.© 2008 American Banker