Largest Branch Deals Announced in 2008 (Corrected)
February 11, 2009, 10:08 a.m. EST 1 Min Read
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Largest Branch Deals Announced in 2008 (Corrected)
Largest Branch Deals Announced in 2008 (Corrected)Ranked by deposits sold | |||||||
|---|---|---|---|---|---|---|---|
| Rank | Buyer | Seller | Date | Branches | Premium to deposits | ||
| Announced | | Number | Deposits | ||||
| 1 | CenterBank Milford, Ohio | Peoples Community Bancorp Inc. West Chester, Ohio | Sept. 12 | terminated | 19 | $634,327 | 5.50 |
| 2 | Community Bank System Inc. De Witt, N.Y. | Royal Bank of Scotland Group Plc Edinburgh | June 24 | Nov. 7 | 18 | 575,000 | 12.00 |
| 3 | Old National Bancorp Evansville, Ind. | Royal Bank of Scotland Group Plc Edinburgh | Nov. 24 | pending | 65 | 397,400 | 4.00 |
| 4 | Happy Bancshares Inc. Canyon, Texas | Citigroup Inc. New York | March 5 | June 6 | 8 | 240,000 | NA |
| 5 | Capital Bank Corp. Raleigh | Omni Financial Services Inc. Atlanta | Sept. 24 | Dec. 15 | 4 | 101,199 | 6.01 |
| 6 | WSFS Financial Corp. Wilmington, Del. | Sun Bancorp Inc. Vineland, N.J. | July 28 | Oct. 24 | 6 | 96,000 | 12.00 |
| 7 | Community Bancorp Inc. Chanute, Kan. | Commerce Bancshares Inc. Kansas City, Mo. | Jan. 11 | May 12 | 2 | 84,900 | 8.60 |
| 8 | King Bancshares Inc. Kingman, Kan. | First Medicine Lodge Bancshares Inc. Overland Park, Kan. | Oct. 21 | Dec. 17 | 3 | 65,153 | NA |
| 9 | First NBC Bank Holding Co. New Orleans | Algiers Bancorp Inc. Convent, La. | Feb. 15 | May 31 | 1 | 60,034 | NA |
| 10 | Ojai Community Bank Calif. | Pacific Capital Bancorp Santa Barbara, Calif. | July 11 | Oct. 24 | 2 | 54,400 | 6.43 |
| 11 | First Vandalia Corp. Vandalia, Ill. | MGB Bancshares Inc. Mattoon, Ill. | Aug. 1 | Nov. 5 | 2 | 52,799 | NA |
| 12 | Lincoln Bancorp Reinbeck, Iowa | First Federal Bankshares Inc. Sioux City, Iowa | Sept. 18 | Dec. 15 | 1 | 52,700 | 10.58 |
| 13 | Coastal Bankshares Inc. Savannah, Ga. | Citizens Financial Services Inc. Greensboro, Ga. | Jan. 17 | May 20 | 2 | 52,474 | NA |
| 14 | Citizens Bancshares Corp. Atlanta | Persons Banking Co. Inc. Lithonia, Ga. | Dec. 10 | pending | 1 | 51,557 | 6.80 |
| 15 | Kimberly Leasing Corp. Augusta, Wis. | National Bancshares Inc. Bettendorf, Iowa | Jan. 8 | June 30 | 1 | 47,887 | 3.00 |
| 16 | First Franklin Corp. Cincinnati | WesBanco Inc. Wheeling, W.Va. | Jan. 18 | terminated | 3 | 44,550 | 7.13 |
| 17 | Liberty Shares Inc. Hinesville, Ga. | Satilla Bankcorp Inc. St. Marys, Ga. | March 10 | June 12 | 1 | 43,451 | 3.45 |
| 18 | Peoples Bankshares Inc. Mora, Minn. | Community Investment Services Inc. North Branch, Minn. | June 30 | Nov. 21 | 1 | 43,289 | NA |
| 19 | First State Bancorp Inc. Winchester, Ohio | WesBanco Inc. Wheeling, W.Va. | Jan. 17 | April 11 | 3 | 41,800 | 8.05 |
| 20 | Provident Bankshares Corp. Baltimore | B.F. Saul Co. Chevy Chase, Md. | Sept. 23 | pending | 7 | 38,000 | 3.00 |
| 21 | First Farmers Bank Holding Co. Bardstown, Ky. | Integra Bank Corp. Evansville, Ind. | Sept. 12 | Jan. 9, '09 | 2 | 36,000 | 6.00 |
| 22 | OGS Investments Inc. Ocala, Fla. | ONB Financial Services Inc. Ocala, Fla. | July 17 | terminated | 1 | 33,313 | NA |
| 23 | American State Bank Arp, Texas | Overton Financial Corp. Texas | Sept. 25 | Dec. 12 | 1 | 29,376 | NA |
| 24 | Ironhorse Financial Group Inc. Muskogee, Okla. | Pawnee Holding Co. Inc. Tulsa | Aug. 25 | Dec. 17 | 1 | 28,826 | NA |
| 25 | Central Community Corp. Temple, Texas | Vintage Shares Inc. Waxahachie, Texas | April 25 | Aug. 14 | 1 | 27,476 | NA |
| 26 | Community Bancshares Inc. McArthur, Ohio | WesBanco Inc. Wheeling, W.Va. | Jan. 17 | April 11 | 2 | 26,669 | 4.87 |
| 27 | LSB Financial Laconia, N.H. | People's United Financial Inc. Bridgeport, Conn. | Oct. 14 | Dec. 19 | 2 | 24,800 | 6.00 |
| 28 | South Financial Group Inc. Greenville, S.C. | BankAtlantic Bancorp Inc. Fort Lauderdale, Fla. | March 11 | June 6 | 5 | 24,477 | 5.00 |
| 29 | First Defiance Financial Corp. Defiance, Ohio | Huntington Bancshares Inc. Columbus, Ohio | June 30 | June 30 | 1 | 23,529 | NA |
| 30 | West Alabama Capital Corp. Reform | BancTrust Financial Group Inc. Mobile | Jan. 8 | Aug. 22 | 3 | 21,500 | 11.20 |
| 31 | Deerwood Bancshares Inc. Minn. | Midwest Bank Group Inc. Detroit Lakes, Minn. | June 6 | Sept. 5 | 1 | 21,000 | NA |
| 32 | Flint Hills Bank of Eskridge Kan. | Blue Lion Bancshares Inc. Prairie Village, Kan. | Jan. 25 | July 3 | 1 | 20,000 | 4.00 |
| 33 | Pinnacle Financial Corp. Elberton, Ga. | Synovus Financial Corp. Columbus, Ga. | April 28 | Oct. 18 | 1 | 19,597 | NA |
| 34 | Citizens Community Bancorp Inc. Eau Claire, Wis. | Ambanc Financial Services Inc. Beaver Dam, Wis. | April 8 | Aug. 1 | 3 | 18,406 | 4.51 |
| 35 | Citizens Financial Services Inc. Mansfield, Pa. | Elmira Savings Bank FSB New York | Sept. 17 | Nov. 22 | 1 | 17,400 | 10.00 |
| 36 | NewBank Flushing, N.Y. | Pamrapo Bancorp Inc. Bayonne, N.J. | June 16 | pending | 1 | 15,700 | 3.18 |
| 37 | Community Bank and Trust Co. Tulsa | Central Banco. Inc. Jefferson City, Mo. | June 30 | June 30 | 1 | 15,547 | NA |
| 38 | Genbeach Co. Inc. Beattyville, Ky. | Integra Bank Corp. Evansville, Ind. | Sept. 18 | pending | 3 | 15,000 | 5.00 |
| 39 | Albany Bancorp Inc. Ky. | Porter Bancorp Inc. Louisville | July 18 | pending | 1 | 14,329 | 5.58 |
| 40 | First Grayson Bancorp Inc. Ky. | Peoples Bancorp Inc. Marietta, Ohio | May 23 | Oct. 17 | 1 | 13,400 | 1.91 |
| 41 | Delmar Bancorp Md. | First Mariner Bancorp Baltimore | June 12 | Oct. 20 | 1 | 13,278 | 2.64 |
| 42 | Investors Bancorp MHC Short Hills, N.J. | Kearny MHC Fairfield, N.J. | Aug. 20 | pending | 1 | 12,675 | 1.50 |
| 43 | Legacy Bancorp Inc. Pittsfield, Mass. | People's United Financial Inc. Bridgeport, Conn. | Dec. 16 | pending | 1 | 12,000 | 4.00 |
| 44 | Harvest Bancorp Inc. Rockville, Md. | Graystone Financial Corp. Lancaster, Pa. | June 9 | Aug. 22 | 1 | 11,591 | NA |
| 45 | Industry Bancshares Inc. Industry, Texas | Independent Bank Group Central Texas Inc. McKinney | Oct. 28 | Jan. 5, '09 | 1 | 11,200 | 3.50 |
| 46 | Deerwood Bancshares Inc. Minn. | MidCountry Financial Corp. Macon, Ga. | March 24 | June 13 | 1 | 11,140 | NA |
| 47 | South Banking Co. Alma, Ga. | Atlantic Coast Federal Corp. MHC Waycross, Ga. | April 21 | Aug. 28 | 1 | 11,000 | NA |
| 48 | NewBridge Bancorp Greensboro, N.C. | Capital Bank Corp. Raleigh | May 21 | Aug. 29 | 1 | 10,400 | 4.10 |
| 49 | UBT Bancshares Inc. Marysville, Kan. | Prairie Star Bancshares Inc. Olathe, Kan. | June 30 | June 30 | 1 | 10,010 | NA |
| 50 | Plains State Bank Kan. | Commerce Bancshares Inc. Kansas City, Mo. | Nov. 5 | pending | 1 | 9,696 | NA |
| 51 | North State Bancshares Inc. Shakopee, Minn. | Stearns Financial Services Inc. St. Cloud, Minn. | July 24 | pending | 1 | 9,034 | NA |
| 52 | C-B-G Inc. West Liberty, Iowa | MidWestOne Financial Group Inc. Iowa City | July 9 | Oct. 17 | 1 | 8,600 | 6.00 |
| 53 | Sword Financial Corp. Horicon, Wis. | Hometown Bancorp Ltd. Fond Du Lac, Wis. | Sept. 19 | Jan. 2, '09 | 2 | 7,149 | 0.00 |
| 54 | Hampton Roads Bankshares Inc. Norfolk | B.F. Saul Co. Chevy Chase, Md. | Sept. 26 | Nov. 30 | 1 | 7,000 | NA |
| 55 | Garfield Acquisition Corp. Cincinnati | Bramble Savings Bank Milford, Ohio | Feb. 14 | May 31 | 1 | 6,260 | 4.25 |
| 56 | Middlefield Banc Corp. Ohio | Commercial Bancshares Inc. Upper Sandusky, Ohio | May 12 | Nov. 7 | 1 | 5,900 | 6.00 |
| 57 | McIntosh County Bank Holding Co. Inc. Ashley, N.D. | Heartland Bancshares Inc. Gilbert, Ariz. | Sept. 12 | pending | 1 | 4,582 | NA |
| 58 | Putnam Bancorp MHC Inc. Conn. | SI Bancorp MHC Willimantic, Conn. | Sept. 15 | pending | 1 | 3,500 | NA |
| 59 | Ironhorse Financial Group Inc. Muskogee, Okla. | HNB Corp. Arkansas City, Kan. | Aug. 11 | Oct. 27 | 1 | 3,172 | NA |
| 60 | Garnett Bancshares Inc. Kan. | Peoples Inc. Lawrence, Kan. | July 3 | Oct. 31 | 1 | 2,934 | 13.63 |
| 61 | Citigroup Inc. New York | Wells Fargo & Co. San Francisco | June 30 | June 30 | 1 | 2,796 | NA |
| 62 | Woodforest Financial Group Inc. The Woodlands, Texas | Altrust Financial Services Inc. Cullman, Ala. | June 30 | June 30 | 1 | 1,005 | NA |
| 63 | Western State Agency Inc. Devils Lake, N.D. | Marshall Bankfirst Corp. Minneapolis | Oct. 2 | pending | 1 | 428 | NA |
| 64 | Carbon County Holding Co. Rawlins, Wyo. | Valley Bancorp Inc. Brighton, Colo. | June 30 | June 30 | 1 | | NA |
| Totals and premiums-to-deposit average for top 25 | 156 | $2,931,911 | |||||
| Totals and premiums-to-deposit average for all 64 branch deals | 208 | $3,398,615 | |||||
Source: SNL Financial, Charlottesville, Va.
© 2009 American Banker