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Top 25 Branch Sale Deals Announced in first Nine Months

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Top 25 Branch Sale Deals Announced in first Nine Months
Top 25 Branch Sale Deals Announced in first Nine Months

Rank by deposits; dollars in thousands
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 Stockmen’s 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>
)

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