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Top Bank and Thrift Deals Completed in the First Half of 2005

August 16, 2005, 10:08 a.m. EDT 1 Min Read
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Top Bank and Thrift Deals Completed in the First Half of 2005

Top Bank and Thrift Deals Completed in the First Half of 2005
Ranked by price at completion
Published August 16, 2005
  Buyer Seller Date Announced
price (000)		 At completion Completed price to: Buyer's
assets (000)		 Seller's:
Announced Completed Price (000) Per share Equity 12-mo. net Assets (000) Employees Branches
1 TD Bank Financial Group Toronto Banknorth Group Inc. Portland, Maine Aug. 26, '04 Mar 01 $3,671,253 $3,926,530 39.37 2.42 19.65 NA $29,275,790 7,129 373
2 Fifth Third Bancorp Cincinnati First National Bankshares of Florida Inc. Naples Aug. 2, '04 Jan. 1 1,525,389 1,479,049 23.96 2.08 41.05 $95,613,539 4,087,319 1,318 60
3 Sovereign Bancorp Inc. Philadelphia Waypoint Financial Corp. Harrisburg, Pa. March 9, '04 Jan. 21 981,207 995,841 28.41 2.25 27.66 43,505,329 5,329,902 942 65
4 Banco Bilbao Vizcaya Argentaria Bilbao, Spain Laredo National Bancshares Tex. Sept. 21, '04 Apr 28 850,000 850,000 1,436.38 2.81 22.22 5,376,890 3,387,776 1,854 39
5 PNC Financial Services Group Pittsburgh Riggs National Corp. Washington July 16, '04 May 13 652,498 658,927 19.81 2.05 N/M 73,118,000 6,744,101 1,307 54
6 First Niagara Financial Group Inc. Lockport, N.Y. Hudson River Bancorp Inc. Hudson, N.Y. April 2, '04 Jan. 14 621,008 602,162 18.95 1.97 17.71 4,979,890 2,618,830 631 52
7 Colonial BancGroup Inc. Montgomery, Ala. FFLC Bancorp Inc. Leesburg, Fla. Jan. 18, '05 May 18 224,691 248,424 44.86 2.87 24.23 18,897,150 1,065,287 264 15
8 Colonial BancGroup Inc. Montgomery, Ala. Union Bank of Florida Weston Sept. 28, '04 Feb. 10 233,000 233,000 NA 2.74 14.10 17,593,019 1,052,505 190 18
9 Banknorth Group Inc. Portland, Maine BostonFed Bancorp Inc. Burlington, Mass. June 21, '04 Jan. 21 195,190 217,783 44.42 NA N/M 26,879,592 1,667,866 399 17
10 Mercantile Bankshares Corp. Baltimore Community Bank of Northern Virginia Sterling Jan. 25, '05 May 18 211,878 217,300 20.83 3.51 23.23 14,425,690 879,919 127 13
11 Popular Inc. Hato Rey, Puerto Rico Kislak Financial Corp. Miami Lakes, Fla. Aug. 17, '04 Jan. 3 158,000 158,000 822.39 2.49 14.18 39,556,239 962,115 158 8
12 Westamerica Bancorp. San Rafael, Calif. Redwood Empire Bancorp Santa Rosa, Calif. Aug. 25, '04 Mar 01 148,002 147,261 28.59 4.83 21.03 4,611,811 515,421 160 10
13 Prosperity Bancshares Inc. Houston FirstCapital Bankers Inc. Corpus Christi Oct. 26, '04 Mar 01 135,700 142,400 44.97 2.21 25.10 2,713,314 770,974 308 33
14 Valley National Bancorp Wayne, N.J. NorCrown Bank Livingston, N.J. Nov. 9, '04 Jun 03 141,000 141,000 26.86 2.98 26.76 10,630,850 603,623 142 16
15 Marshall Bancorp Inc. Minneapolis BankFirst Corp. Sioux Falls, S.D. Sept. 23, '04 Jan. 4 138,000 138,000 10 1.02 3.47 68,387 676,750 597 5
16 Valley National Bancorp Wayne, N.J. Shrewsbury Bancorp N.J. Dec. 2, '04 Mar 31 135,960 135,960 48 2.22 23.04 10,630,850 424,588 121 11
17 Berkshire Hills Bancorp Inc. Pittsfield, Mass. Woronoco Bancorp Inc. Westfield, Mass. Dec. 17, '04 Jun 01 144,729 133,119 32.89 1.58 49.72 1,310,509 898,479 156 10
18 WesBanco Inc. Wheeling, W.Va. Winton Financial Corp. Cincinnati Aug. 25, '04 Jan. 3 103,985 121,628 22.78 2.39 24.36 3,495,823 553,744 134 8
19 F.N.B. Corp. Hermitage, Pa. NSD Bancorp Inc. Pittsburgh Oct. 15, '04 Feb. 18 136,415 120,871 34.36 3.03 29.45 4,733,542 517,317 145 13
20 Whitney Holding Corp. New Orleans Destin Bancshares Inc. Fla. Oct. 13, '04 Apr 22 115,352 114,934 170.65 4.76 23.80 8,072,040 471,096 124 9
21 KNBT Bancorp Inc. Bethlehem, Pa. Northeast Pennsylvania Financial Corp Hazelton Dec. 9, '04 May 19 98,655 98,778 23 1.57 24.75 2,292,382 836,035 197 18
22 Wintrust Financial Corp. Lake Forest, Ill. Antioch Holding Co. Ill. Oct. 15, '04 Jan. 18 95,000 95,000 2,011.14 2.74 37.97 5,817,286 444,681 130 4
23 First National Security Co. De Queen, Ark. First Community Banking Corp. Hot Springs, Ark. Jan. 21, '05 Apr 23 92,396 92,396 2,909.31 2.06 20.26 504,592 375,809 132 17
24 South Financial Group Inc. Greenville, S.C. Pointe Financial Corp. Boca Raton, Fla. Oct. 27, '04 May 06 101,460 90,418 36.44 2.23 27.43 13,651,449 428,895 123 10
25 First BanCorp Santurce, Puerto Rico Ponce General Corp. Miami Nov. 22, '04 Mar 31 82,950 82,950 163.67 1.84 12.11 15,177,661 471,378 113 11
26 ESB Financial Corp. Ellwood City, Pa. PHSB Financial Corp. Beaver Falls, Pa. Aug. 12, '04 Feb. 11 82,655 82,223 26.84 1.68 25.79 1,361,784 323,003 83 11
27 Monmouth Community Bancorp * Long Branch, N.J. Allaire Community Bank * Sea Girt, N.J. June 30, '04 Jan. 1 52,529 76,645 34.05 4.24 37.97 237,320 189,161 55 6
28 Peoples Holding Co. Tupelo, Miss. Heritage Financial Holding Corp. Decatur, Ala. July 15, '04 Jan. 1 73,440 74,027 6.47 2.14 N/M 1,422,381 545,747 154 8
29 Sky Financial Group Inc. Bowling Green, Ohio Belmont Bancorp Bridgeport, Ohio Dec. 22, '04 Jun 01 69,206 70,587 6.28 2.21 25.88 14,643,132 296,728 130 14
30 City Holding Co. Charleston, W.Va. Classic Bancshares Inc. Ashland, Ky. Dec. 29, '04 May 23 77,362 70,536 43.32 1.63 17.05 2,215,474 339,866 107 13
31 Brookline Bancorp Inc. Mass. Mystic Financial Inc. Medford, Mass. July 7, '04 Jan. 7 66,380 68,677 40.62 2.29 38.79 1,447,687 441,192 93 8
32 PrivateBancorp Inc. Chicago Bloomfield Hills Bancorp Mich. April 14, '05 Jun 20 64,000 64,000 70,329.67 3.39 19.48 2,601,690 313,523 73 3
33 Main Street Trust Inc. Champaign, Ill. Citizens First Financial Corp. Bloomington, Ill. Nov. 8, '04 Apr 01 57,830 58,792 33.86 1.52 18.40 1,239,598 327,103 87 6
34 Franklin Bank Corp. Houston First National Bank of Athens Tex. Dec. 21, '04 May 09 58,275 58,057 3,572.74 2.16 67.43 3,308,554 215,699 77 4
35 Capital City Bank Group Inc. Tallahassee First Alachua Banking Corp. Fla. Feb. 4, '05 May 20 57,963 57,224 5,617.92 2.25 22.23 2,364,013 231,778 99 8
36 Home Bancshares Inc. Conway, Ark. TCBancorp Inc. Cabot, Ark. Nov. 23, '04 Jan. 21 54,296 54,296 35 1.30 32.81 799,785 558,741 103 9
37 Park National Corp. Newark, Ohio First Clermont Bank Milford, Ohio Sept. 24, '04 Jan. 3 52,500 52,500 1,500.00 2.11 54.18 5,074,731 202,427 71 10
38 Iberiabank Corp. Lafayette, La. American Horizons Bancorp Inc. Monroe, La. Sept. 29, '04 Jan. 31 48,200 51,522 22.49 2.11 20.18 2,351,770 265,336 115 8
39 Benjamin Franklin Bancorp Franklin, Mass. Chart Bank Waltham, Mass. Sept. 1, '04 Apr 04 46,498 46,498 30.75 2.46 44.38 502,592 249,107 51 3
40 First National Lincoln Corp. Damariscotta, Maine FNB Bankshares Bar Harbor, Maine Aug. 26, '04 Jan. 14 48,042 45,684 40 2.43 17.07 613,972 227,569 82 7
41 Seacoast Banking Corp. of Florida Stuart Century National Bank Orlando Nov. 30, '04 May 02 46,193 43,348 27 2.16 18.79 1,397,965 287,725 30 4
42 Wintrust Financial Corp. Lake Forest, Ill. First Northwest Bancorp Inc. Arlington Heights, Ill. Nov. 17, '04 Mar 31 45,066 42,169 20.31 2.87 17.00 5,817,286 267,781 49 2
43 Glacier Bancorp Inc. Kalispell, Mont. First National Banks-West Co. Evanston, Wyo. Nov. 22, '04 Mar 01 41,000 41,000 683.33 2.37 9.64 3,002,699 232,800 83 7
44 First Citizens Bancorp. Inc. Columbia, S.C. People's Community Capital Corp. Aiken, S.C. Oct. 18, '04 May 01 39,900 39,888 30 NA N/M 4,478,206 125,720 22 4
45 First Defiance Financial Corp. Ohio ComBanc Inc. Delphos, Ohio Aug. 4, '04 Jan. 21 38,030 39,217 17.74 1.69 N/M 1,073,166 208,813 80 6
46 Grabill Bancorp * Ind. MarBanc Financial Corp. * Markle, Ind. Nov. 23, '04 May 01 36,813 36,813 67.75 1.66 14.09 520,059 224,315 70 5
47 Security Bank Corp. Macon, Ga. SouthBank Woodstock, Ga. Jan. 19, '05 Jun 08 35,977 36,553 21.48 2.42 32.37 1,063,485 113,781 23 1
48 Texas Regional Bancshares McAllen Mercantile Bank and Trust FSB Dallas Oct. 8, '04 Jan. 18 35,640 35,640 12 2.33 N/M 5,619,282 170,277 37 4
49 Riverview Bancorp Inc. Vancouver, Wash. American Pacific Bank Portland, Ore. Nov. 9, '04 Apr 22 34,389 34,140 11.87 1.79 20.68 525,457 122,500 31 4
50 Exchange National Bancshares Inc. Jefferson City, Mo. Bank 10 Belton, Mo. Feb. 28, '05 May 02 33,357 33,354 33,354.00 2.45 17.84 923,874 171,732 73 5
  Totals and averages for top 50 deals $12,289,259 $12,555,121 2.38 25.58  
  Totals and averages for all deals 12,885,662 13,151,783 2.17 26.29  


*Merger of equals
Source: Highline Banking Data Services (877-305-6657)
© 2005 American Banker

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