Top 25 Bank and Thrift Acquisitions Announced in the First Quarter of 2000
May 05, 2000, 10:08 a.m. EDT 1 Min Read
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Top 25 Bank and Thrift Acquisitions Announced in the First Quarter of 2000
in the First Quarter of 2000 | |
Published May 5, 2000 |
Rank | Buyer | Seller | Announcement Date | Total Deal Price | Price to Equity (x) | Price to latest 12 mos. net income (x) | Seller: Number of employees | Buyer: Total Assets | Seller: Total Assets | Seller: Latest 12 mos. efficiency ratio | Seller: ROA | Seller: ROE |
---|---|---|---|---|---|---|---|---|---|---|---|---|
1 | Charles Schwab Corporation (The) | U.S. Trust Corporation | 1/13/2000 | $2,618.6 | 7.98 | 32.87 | 1,900 | N/A | $4,376.7 | 76.40% | 1.88% | 29.83% |
2 | National Commerce Bancorp. | CCB Financial Corporation | 3/20/2000 | 1,916.6 | 2.64 | 12.61 | 2,831 | 6,806.2 | 8,186.3 | 49.89 | 1.93 | 21.40 |
3 | North Fork Bancorporation ** | Dime Bancorp ** | 3/5/2000 | 1,884.3 | 1.28 | 7.88 | 3,232 | 11,914.8 | 22,601.2 | 75.20 | 1.10 | 16.40 |
4 | BB&T Corporation | One Valley Bancorp, Inc. | 2/7/2000 | 1,202.1 | 2.12 | 14.68 | 2,375 | 43,481.0 | 6,583.1 | 57.38 | 1.30 | 14.15 |
5 | Wells Fargo & Company | First Commerce Bancshares, Inc. | 2/2/2000 | 479.5 | 1.92 | 16.09 | 1,211 | 207,060.0 | 2,545.6 | 67.62 | 1.30 | 12.90 |
6 | Carolina First Corporation | Anchor Financial Corporation | 1/10/2000 | 303.7 | 3.28 | 25.46 | 401 | 3,169.1 | 1,223.8 | 65.08 | 1.16 | 15.26 |
7 | Harris Financial, Inc. | York Financial Corporation | 3/28/2000 | 178.8 | 1.59 | 17.13 | 422 | 2,642.2 | 1,650.7 | 63.39 | 0.61 | 8.44 |
8 | Huntington Bancshares Inc. | Empire Banc Corporation | 2/7/2000 | 138.5 | 3.19 | 19.75 | 238 | 28,974.6 | 505.9 | 63.15 | 1.41 | 16.31 |
9 | Mutual Savings Bank | First Northern Capital Corp. | 2/22/2000 | 132.5 | 1.67 | 17.38 | 230 | 1,843.0 | 839.6 | 56.15 | 0.96 | 9.62 |
10 | Sterling Financial Corp. | Hanover Bancorp, Inc. | 1/26/2000 | 99.5 | 2.86 | 21.04 | 193 | 1,040.4 | 509.9 | 68.07 | 0.92 | 12.79 |
11 | Greater Bay Bancorp | Bank of Santa Clara | 1/27/2000 | 90.8 | 2.84 | 20.75 | 161 | 2,283.9 | 328.6 | 66.68 | 1.31 | 14.36 |
12 | Bradshaw Capital Management ** | First Savings Bancorp, Inc. ** | 1/3/2000 | 84.9 | 1.25 | 15.23 | 40 | N/A | 323.7 | 33.25 | 1.70 | 8.47 |
13 | Niagara Bancorp, Inc. | Iroquois Bancorp, Inc. | 3/27/2000 | 79.0 | 1.97 | 16.32 | 202 | 1,680.1 | 595.1 | 64.45 | 0.81 | 12.07 |
14 | SouthBanc Shares, Inc. | Heritage Bancorp, Inc | 2/14/2000 | 77.0 | 1.16 | 40.68 | 37 | 361.3 | 313.7 | 58.39 | 0.51 | 2.41 |
15 | Richmond County Financial Corp | South Jersey Financial Corp | 3/15/2000 | 68.5 | 1.20 | N/A | 90 | 2,806.3 | 339.1 | N/A | 0.09 | 0.55 |
16 | Mercantile Bankshares Corp. | Union National Bancorp | 1/21/2000 | 66.6 | 2.58 | 20.60 | 125 | 7,895.0 | 302.9 | 65.77 | 1.08 | 13.30 |
17 | Bingham Financial Services Corporation | Franklin Bank, N.A. | 3/20/2000 | 62.7 | 1.31 | N/A | 234 | N/A | 516.6 | N/A | N/A | N/A |
18 | Pacific Capital Bancorp | San Benito Bank | 2/3/2000 | 54.5 | 2.93 | 23.21 | 82 | 2,848.8 | 200.0 | 64.20 | 1.21 | 13.24 |
19 | State National Bancshares | Independent Bankshares, Inc. | 2/17/2000 | 45.5 | 1.82 | 17.95 | 177 | 838.4 | 357.5 | 76.06 | 0.70 | 10.19 |
20 | SouthTrust Corporation | Security Bancorp, Inc. | 1/20/2000 | 44.0 | 2.96 | 47.26 | 109 | 43,262.5 | 184.7 | 71.72 | 0.26 | 3.02 |
21 | Frontier Financial Corporation | Liberty Bay Financial Corp. | 3/15/2000 | 41.6 | 2.04 | 15.90 | 102 | 1,261.9 | 188.1 | 65.54 | 1.45 | 13.49 |
22 | Sound Federal Bancorp | Peekskill Financial Corp | 2/17/2000 | 41.6 | 1.49 | 27.32 | 24 | 311.6 | 212.7 | 60.90 | 0.76 | 5.94 |
23 | Greater Bay Bancorp | Bank of Petaluma | 3/21/2000 | 40.2 | 2.55 | 16.35 | 74 | 2,625.0 | 189.6 | 63.49 | 1.15 | 15.29 |
24 | Wachovia Corporation | Commerce National Corp. | 3/3/2000 | 38.9 | 2.82 | 25.22 | 46 | 65,805.7 | 179.4 | 61.65 | 0.92 | 11.47 |
25 | United Community Banks, Inc. | North Point Bancshares, Inc. | 2/9/2000 | 36.4 | 3.85 | 23.81 | 42 | 2,060.4 | 105.6 | 54.53 | 1.45 | 15.64 |
Totals and Averages for the top 25 deals announced in the 1st quarter of 2000 | $9,826.2 | 2.45 | 21.54 | 14,578 | $440,972.1 | $53,360.0 | 63.00% | 1.08% | 12.36% | |||
Totals and Averages for all deals announced in the 1st quarter of 2000 | $10,379.5 | 2.07 | 21.76 | 16,798 | $795,304.5 | $59,858.7 | 70.58% | 0.98% | 10.37% |
Source: Sheshunoff Information Services Inc., Austin, Texas, a Thomson Financial Company.
(**) Hostile attempt
©2000 American Banker