Line-of-Business Deals Announced
May 24, 2005, 10:08 a.m. EDT 1 Min Read
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Line-of-Business Deals Announced
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| Published May 24, 2005 | ||||||
| Buyer | Seller | Announced | Completed | Price | Assets involved | |
| TRUST SERVICES | ||||||
| 1 | Mellon Financial Corp. Pittsburgh | Derivatives Portfolio Management LLC Somerset, N.J. | Jan. 18 | Feb. 28 | NA | $30,000,000 |
| 2 | Washington Trust Bancorp Westerly, R.I. | Weston Financial Group Inc. Wellesley, Mass. | March 21 | pending | 26,000 | 1,200,000 |
| 3 | NewAlliance Bancshares Inc. New Haven | Trust Co. of Connecticut Hartford | March 9 | pending | 19,300 | 700,000 |
| 4 | Chicago Title Land Trust Co. Chicago | Taylor Capital Group Inc. Wheeling, Ill. | April 1 | April 1 | 2,250 | NA |
| 5 | Community Central Bank Corp. Mount Clemens, Mich. | River Place Financial Corp. Detroit | Feb. 16 | pending | NA | NA |
| 6 | MG Colorado Holdings Inc. | Matrix Bancorp Inc. Denver | March 23 | pending | NA | NA |
| SPECIALTY FINANCE | ||||||
| 1 | CIT Group Inc. Livingston, N.J. | SunTrust Banks Inc. Atlanta | April 1 | April 1 | NA | 238,000 |
| 2 | State Financial Services Corp. Milwaukee | M2 Lease Funds LLC Madison, Wis. | Jan. 5 | pending | NA | 27,000 |
| 3 | GrandSouth Bancorp. Greenville, S.C. | Car Bucks Inc. Anderson, S.C. | March 10 | pending | 750 | NA |
| 4 | Perry Capital LLC New York | Regions Financial Corp. Birmingham, Ala. | April 5 | pending | NA | NA |
| 5 | Societe Generale SA Paris | Bank of America Corp. Charlotte | Feb. 1 | April 7 | NA | NA |
| 6 | Undisclosed acquirer | Ohio Savings Financial Corp. Cleveland | Jan. 17 | Jan. 21 | NA | 5,000,000 |
| 7 | Wells Fargo & Co. San Francisco | Commercial Federal Corp. Omaha | March 31 | March 31 | 137,000 | 10,000,000 |
| 8 | EverBank Jacksonville, Fla. | First Indiana Corp. Indianapolis | March 29 | pending | 2,910 | NA |
| SECURITIES BROKERAGE | ||||||
| 1 | Bank of New York Co. Inc. | McGraw-Hill Cos. Inc. New York | Jan. 24 | pending | NA | NA |
| 2 | Bank of New York Co. Inc. | BISYS Group Inc. Little Falls, N.J. | March 18 | pending | NA | NA |
| OTHER | ||||||
| 1 | Affiliated Computer Services Inc. Dallas | Mellon Financial Corp. Pittsburgh | March 16 | pending | 445,000 | NA |
| 2 | Bank of New York Co. Inc. New York | Lynch, Jones and Ryan New York | April 22 | pending | 159,000 | NA |
| 3 | JPMorgan Chase & Co. New York | Vastera Inc. Dulles, Va. | Jan. 7 | April 1 | 126,780 | NA |
| 4 | Citigroup Inc. New York | Insular Life Assurance Co. Ltd. Makati City, NA | March 16 | pending | 18,500 | NA |
| 5 | PFF Bancorp Inc. Pomona,Calif. | Undisclosed seller Calif. | April 8 | pending | 10,000 | NA |
| 6 | Valley Bancorp Las Vegas | Undisclosed seller Nev. | Jan. 20 | Jan. 20 | 1,800 | NA |
| 7 | Third Century Bancorp Franklin, Ind. | South Grove Landing LLC Bargersville, Ind. | Jan. 28 | pending | 650 | NA |
| 8 | American Financial Realty Trust Jenkintown, Pa. | Wachovia Corp. Charlotte | March 28 | pending | NA | NA |
| 9 | Bank of New York Co. Inc. | Continental Fund Services Luxembourg | Jan. 25 | Jan. 25 | NA | NA |
| 10 | Investor group Pa. | Citizens Financial Services Inc. Mansfield, Pa. | March 21 | March 21 | NA | NA |
| 11 | KeyCorp Cleveland | Payroll Online Bellevue, Wash. | April 7 | April 7 | NA | NA |
| 12 | Synovus Financial Corp. Columbus, Ga. | Vital Processing Services Tempe, Ariz. | Jan. 18 | March 2 | NA | NA |
| 13 | U.S. Bancorp Minneapolis | Wachovia Corp. Charlotte | Feb. 16 | Feb. 16 | NA | NA |
| MORTGAGE BANKING | ||||||
| 1 | Commercial Capital Bancorp Inc. Irvine, Calif. | Timcor Exchange Corp. Culver City, Calif. | Feb. 7 | Feb. 17 | 28,844 | NA |
| 2 | Aliant Financial Corp. Alexander City, Ala. | Southern Capital Resources Birmingham, Ala. | March 11 | March 11 | NA | NA |
| 3 | American Home Mortgage Investment Corp. Melville, N.Y. | Irwin Financial Corp. Columbus, Ind. | March 14 | pending | NA | NA |
| 4 | M&T Bank Corp. Buffalo | Regions Financial Corp. Birmingham, Ala. | March 4 | pending | NA | NA |
| 5 | MBNA Corp. Wilmington, Del. | Nexstar Financial Corp. Saint Charles, Mo. | April 13 | pending | NA | NA |
| 6 | Pinnacle Financial Corp. Elberton, Ga. | Irwin Financial Corp. Columbus, Ind. | March 14 | pending | NA | NA |
| 7 | SCBT Financial Corp. Columbia, S.C. | Devine Mortgage LLC Columbia, S.C. | April 29 | pending | NA | NA |
| LOAN PORTFOLIO | ||||||
| 1 | 21st Mortgage Corp. Knoxville, Tenn. | Citigroup Inc. New York | March 21 | pending | NA | 1,400,000 |
| 2 | Bank of America Corp. Charlotte | KeyCorp Cleveland | March 28 | pending | NA | 990,000 |
| 3 | Marquette Financial Cos. Minneapolis | Capital Factors Inc. Boca Raton, Fla. | Feb. 9 | Feb. 9 | NA | 87,500 |
| 4 | Epic Bancorp San Rafael, Calif. | Vineyard National Bancorp Rancho Cucamonga, Calif. | Jan. 3 | Jan. 5 | NA | 33,800 |
| 5 | Discovery Bank San Marcos, Calif. | Celtic Capital Corp. Santa Monica, Calif. | Jan. 27 | pending | NA | 23,000 |
| INVESTMENT ADVISORY/MANAGEMENT SERVICES | ||||||
| 1 | Bank Leumi le-Israel BM Tel-Aviv | Riggs National Corp. Washington | Jan. 30 | pending | 37,000 | NA |
| 2 | BB&T Corp. Winston-Salem, N.C. | Sterling Capital Management LLC Charlotte | Feb. 16 | pending | NA | 5,600,000 |
| 3 | JPMorgan Chase & Co. New York | Pacholder Associates Inc. Cincinnati | Feb. 8 | pending | NA | 2,500,000 |
| 4 | NBT Bancorp Inc. Norwich, N.Y. | Epic Advisors Inc. Rochester, N.Y. | Jan. 21 | Jan. 21 | NA | 1,500,000 |
| 5 | Compass Bancshares Inc. Birmingham, Ala. | Starvis, Margolis Advisory Services Inc. Houston | Jan. 11 | Jan. 11 | NA | 500,000 |
| 6 | Advanced Equities Financial Corp. Chicago | Wells Fargo & Co. San Francisco | Jan. 6 | Feb. 1 | NA | NA |
| 7 | Bank Hapoalim BM Tel Aviv | Bank of New York Co. Inc. | March 29 | pending | NA | NA |
| 8 | First Pioneer Holding Inc. Denver | Sterling Partners Denver | Feb. 16 | pending | NA | NA |
| 9 | Susquehanna Bancshares Inc. Lititz, Pa. | Brandywine Benefits Corp. Wilmington, Del. | Feb. 2 | Feb. 2 | NA | NA |
| INSURANCE | ||||||
| 1 | MetLife Inc. New York | Citigroup Inc. New York | Jan. 31 | pending | 11,500,000 | 96,000,000 |
| 2 | Capital One Financial Corp. McLean, Va. | InsLogic Corp. Oak Ridge, Tenn. | Jan. 16 | Jan. 16 | 35,000 | NA |
| 3 | KNBT Bancorp Inc. Bethlehem, Pa. | Caruso Benefits Group Inc. Bethlehem, Pa. | Feb. 28 | April 1 | 28,000 | NA |
| 4 | International Insurance Brokers Ltd. Tulsa | Team Financial Inc. Paola, Kan. | Feb. 7 | Feb. 25 | 7,000 | NA |
| 5 | Anderson Group Owensboro, Ky. | MainSource Financial Group Inc. Greensburg, Ind. | March 24 | March 24 | NA | NA |
| 6 | BancorpSouth Inc. Tupelo, Miss. | Kyzar and Co. Hattiesburg, Miss. | April 1 | April 1 | NA | NA |
| 7 | Beneficial Savings Bank Philadelphia | Paul Hertel and Co. Philadelphia | Jan. 21 | Jan. 21 | NA | NA |
| 8 | Bridge Street Financial Inc. Oswego, N.Y. | Ladds Insurance Agency Inc. North Syracuse, N.Y. | March 1 | pending | NA | NA |
| 9 | Compass Bancshares Inc. Birmingham, Ala. | Warren Benefits Group LP Houston | Jan. 13 | Jan. 13 | NA | NA |
| 10 | Encore Bancshares Inc. Houston | John A. Bumstead and Associates Inc. Houston | Jan. 6 | Jan. 6 | NA | NA |
| 11 | Farmers Capital Bank Corp. Frankfort, Ky. | Kentucky Home Life Insurance Co. Louisville | Jan. 1 | Jan. 1 | NA | NA |
| 12 | First Horizon National Corp. Memphis | MSAver Resources LLC Overland Park, Kan. | April 4 | April 4 | NA | NA |
| 13 | First Niagara Financial Group Inc. Lockport, N.Y. | L.A. Lama Insurance Agency Ithaca, N.Y. | Feb. 1 | Feb. 1 | NA | NA |
| 14 | First Niagara Financial Group Inc. Lockport, N.Y. | Brooks-Byer Associates Inc. Delmar, N.Y. | April 1 | April 1 | NA | NA |
| 15 | Greater Bay Bancorp Palo Alto, Calif. | Lucini/Parish Insurance Inc. Reno, Nev. | April 21 | pending | NA | NA |
| 16 | LandAmerica Financial Group Inc. Richmond | Century Title Services Fort Wayne, Ind. | April 5 | April 5 | NA | NA |
| 17 | National Penn Bancshares Inc. Boyertown, Pa. | Krombolz Agency Inc. West Chester, Pa. | Jan. 3 | Jan. 3 | NA | NA |
| 18 | Old National Bancorp Evansville, Ind. | J.W.F. Insurance Cos. Inc. Indianapolis | April 1 | May 1 | NA | NA |
| 19 | S&T Bancorp Inc. Indiana, Pa. | Bennett Associates Inc. Ebensburg, Pa. | Jan. 3 | Jan. 3 | NA | NA |
| 20 | Temple-Inland Inc. Austin | Walter Mortensen Insurance Bakersfield, Calif. | Feb. 22 | Feb. 22 | NA | NA |
| 21 | Wachovia Corp. Charlotte | Palmer and Cay Savannah, Ga. | April 5 | pending | NA | NA |
| CREDIT CARD PORTFOLIO | ||||||
| 1 | Undisclosed acquirer | Providian Financial Corp. San Francisco | Feb. 15 | pending | NA | 447,000 |
| 2 | Spirit of America National Bank Milford, Ohio | Citigroup Inc. New York | March 18 | March 18 | 57,000 | NA |
| 3 | U.S. Bancorp Minneapolis | Multi Service Corp. Overland Park, Kan. | March 1 | March 1 | NA | NA |
Source: Highline Banking Data Services (877-305-6657)
© 2005 American Banker