Top 25 Branch Sale Deals Announced in first Nine Months
October 23, 2001, 10:08 a.m. EDT 1 Min Read
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Top 25 Branch Sale Deals Announced in first Nine Months
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Published October 23, 2001 |
Buyer | Target | Announced | Completed (or status) | Number Branches sold | Premium to Deposits | Premium to Deposits | Branch locations | |
1 | Citizens Financial Group R.I. | Mellon Financial Corp. Pa. | 17-Jul | Pending | 345 | $13,400,000 | 16% | Pa., N.J. Del. |
2 | SunTrust Banks Inc. Ga. | Huntington Bancshares Inc. Ohio | Sept. 26 | Pending | 141 | 4,700,000 | 15 | Fla. |
3 | National Commerce Financial Corp. Tenn. | First Union Corp. N.C. | Aug. 13 | Pending | 37 | 1,500,000 | NA | N.C., Va., Ga., S.C. |
4 | Bremer Financial Corp. Minn. | U.S. Bancorp Minn. | Jan. 31 | 11-May | 11 | 750,000 | 8 | Minn. |
5 | U.S. Bancorp Minn. | Pacific Century Financial Corp. Hawaii. | 5-Jun | Sept. 7 | 20 | 700,000 | NA | Calif. |
6 | Community Bank System Inc. N.Y. | FleetBoston Financial Corp. Mass. | 8-Jun | Pending | 36 | 484,000 | NA | N.Y. |
7 | Marshall & Ilsley Corp. Wis. | Fifth Third Bancorp Ohio | 11-Apr | Sept. 7 | 11 | 450,000 | NA | Ariz. |
8 | Klamath First Bancorp Inc. Ore. | Washington Mutual Inc. Wash. | 29-May | Sept. 7 | 13 | 423,000 | 8 | Ore. |
9 | Colonial BancGroup Inc. Ala. | Union Planters Corp. Tenn. | 18-Jun | Pending | 13 | 358,000 | NA | Ala., Fla. |
10 | Fulton Financial Corp. Pa. | Sovereign Bancorp Inc. Pa. | Jan. 29 | 8-Jun | 18 | 319,000 | 9 | Del, N.J., Pa. |
11 | Sky Financial Group Inc. Ohio | ABN AMRO North America Inc. Ill. | 11-Jul | Pending | 10 | 300,000 | NA | Ohio |
12 | Richmond County Financial Corp. N.Y. | FleetBoston Financial Corp. Mass. | Feb. 27 | 22-Jun | 7 | 276,000 | NA | N.J., N.Y. |
13 | BancWest Corp. Hawaii | UnionBanCal Corp. Calif. | 31-May | Pending | 3 | 216,379 | 7 | Guam, MP |
14 | 1st Source Corp. Ind. | ABN AMRO North America Inc. Ill. | Aug. 9 | Pending | 13 | 214,000 | NA | Ind. |
15 | Chemical Financial Corp. Mich. | Fifth Third Bancorp Ohio | 23-Mar | 13-Jul | 4 | 150,600 | 11 | Mich. |
16 | Exchange Bancshares Inc. Ky. | Union Planters Corp. Tenn. | 8-May | Sept. 14 | 6 | 116,841 | 5 | Ky. |
17 | Commonwealth Community Bancorp Va. | First Union Corp. N.C. | Feb. 23 | Feb. 23 | 2 | 115,505 | NA | Va. |
18 | First Community Bancshares Inc. Va. | BB&T Corp. N.C. | Aug. 9 | Pending | 4 | 115,000 | NA | Va. |
19 | Affinity Bank Calif. | Firstplus Bank Calif. | Jan. 3 | 1-Mar | 1 | 103,100 | 3 | Calif. |
20 | Regions Financial Corp. Ala. | Union Planters Corp. Tenn. | Sept. 8 | Pending | 3 | 101,761 | 6 | Tex. |
21 | Allegiant Bancorp Inc. Mo. | Great Southwestern Financial Tex. | Aug. 22 | Pending | 5 | 100,000 | NA | Mo. |
22 | Stockmens Bancorp Ariz. | Community First Bankshares N.D. | 22-Mar | 22-Jun | 8 | 92,500 | 4 | Ariz. |
23 | North Country Financial Corp. Mich. | ABN AMRO North America Inc . Ill. | Aug. 3 | Pending | 6 | 90,000 | NA | Mich. |
24 | National Bancshares Inc. Iowa | AMCORE Financial Inc. Ill. | 5-Mar | 18-May | 1 | 85,510 | NA | Ill. |
25 | First Farmers Financial Corp. Ind. | Lakeland Financial Corp. Ind. | 29-Jun | Sept. 21 | 5 | 80,000 | NA | Ind. |
Totals and averages for the top 25 branch sale transactions | 723 | 25,241,196 | 7 | |||||
Totals and averages for all 178 branch sale transactions | 958 | 28,617,931 | 7 |
©2001 American Banker
Source: Sheshunoff Information Services (<b>www.sheshunoff.com</b> )