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Largest Branch Deals Announced in the First Half of 2008

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Largest Branch Deals Announced in the First Half of 2008

Largest Branch Deals Announced in the First Half of 2008Ranked by deposits sold
Published August 19, 2008

Rank Buyer Seller Date Branches
Announced Completed Number Deposits Premium to deposits
1 Community Bank System Inc. De Witt, N.Y. Royal Bank of Scotland Group Plc Edinburgh June 24 pending 18 $630,000 12.00
2 Happy Bancshares Inc. Canyon, Tex. Citigroup Inc. New York March 5 pending 8 240,000 NA
3 Community Bancorp Inc. Chanute, Kan. Commerce Bancshares Inc. Kansas City Jan. 11 May 12 2 84,900 8.60
4 First NBC Bank Holding Co. New Orleans Algiers Bancorp Inc. Convent, La. Feb. 15 May 31 1 60,034 NA
5 Coastal Bankshares Inc. Savannah, Ga. Citizens Financial Services Inc. Greensboro, Ga. Jan. 17 May 20 2 52,474 NA
6 Kimberly Leasing Corp. Augusta, Wis. National Bancshares Inc. Bettendorf, Iowa Jan. 8 pending 1 47,887 3.00
7 First Franklin Corp. Cincinnati WesBanco Inc. Wheeling, W.Va. Jan. 18 Terminated 3 44,550 7.13
8 Liberty Shares Inc. Hinesville, Ga. Satilla Bankcorp Inc. St. Marys, Ga. March 10 June 12 1 43,451 3.45
9 First State Bancorp Inc. Winchester, Ohio WesBanco Inc. Wheeling, W.Va. Jan. 17 April 11 3 41,800 8.05
10 West Alabama Capital Corp. Reform BancTrust Financial Group Inc. Mobile, Ala. Jan. 8 pending 3 40,397 5.69
11 Central Community Corp. Temple, Tex. Vintage Shares Inc. Waxahachie, Tex. April 25 pending 1 27,476 NA
12 Community Bancshares Inc. McArthur, Ohio WesBanco Inc. Wheeling, W.Va. Jan. 17 April 11 2 26,669 4.87
13 Citizens Community Bancorp Inc. Eau Claire, Wis. Ambanc Financial Services Inc. Beaver Dam, Wis. April 9 pending 3 25,520 NA
14 South Financial Group Inc. Greenville, S.C. BankAtlantic Bancorp Inc. Fort Lauderdale, Fla. March 11 June 6 5 25,000 5.00
15 Pinnacle Financial Corp. Elberton, Ga. Synovus Financial Corp. Columbus, Ga. April 28 pending 1 22,783 NA
16 Flint Hills Bank of Eskridge Kan. Blue Lion Bancshares Inc. Prairie Village, Kan. Jan. 25 pending 1 20,000 4.00
17 First Grayson Bancorp Inc. Ky. Peoples Bancorp Inc. Marietta, Ohio May 28 pending 1 14,900 1.85
18 NewBridge Bancorp Greensboro, N.C. Capital Bank Corp. Raleigh May 22 pending 1 12,528 NA
19 South Banking Co. Alma, Ga. Atlantic Coast Federal Corp. Waycross, Ga. April 21 pending 1 11,000 NA
20 Middlefield Banc Corp. Ohio Commercial Bancshares Inc. Upper Sandusky, Ohio May 12 pending 1 6,500 6.00
21 Garfield Acquisition Corp. Cincinnati Bramble Savings Bank Milford, Ohio Feb. 14 pending 1 6,260 4.25
22 Harvest Bancorp Inc. Rockville, Md. Graystone Financial Corp Lancaster, Pa. June 9 pending 1 NA NA
  Totals:       61 $1,484,129 5.68


Source:

SNL Financial
, Charlottesville, Va.
© 2008 American Banker

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