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Top Bank and Thrift Deals Completed in the First Half of 2006

August 15, 2006, 10:08 a.m. EDT 1 Min Read
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Top Bank and Thrift Deals Completed in the First Half of 2006

Top Bank and Thrift Deals Completed in the First Half of 2006
Ranked by price at completion
Published August 15, 2006
Rank Buyer Seller Date Announced price (millions) At completion Completed price to: Buyer's assets (000) Seller's:
Announced Completed Price (millions) Per share Equity 12-mo. net Assets (000) Branches
1 Wachovia Corp. Charlotte Westcorp Irvine, Calif. Sept. 12, ’05 March 1 $3,416.70 $3,809.20 71.48 2.38 14.84 $511,840,000 $17,007,015 19
2 Sovereign Bancorp Inc. Philadelphia Independence Community Bank Corp. Brooklyn, N.Y. Oct. 24, ’05 June 1 3,591.20 3,591.20 42 1.57 18.37 62,941,898 18,974,654 126
3 TD Banknorth Inc. Portland, Maine Hudson United Bancorp Mahwah, N.J. July 11, ’05 Jan. 31 1,898.70 1,880.40 42.08 3.61 16.77 32,134,821 9,065,673 203
4 Marshall & Ilsley Corp. Milwaukee Gold Banc Corp. Inc. Leawood, Kan. Nov. 9, ’05 April 1 714.70 714.70 18.5 2.58 14.85 44,995,293 4,179,144 33
5 Huntington Bancshares Inc. Columbus, Ohio Unizan Financial Corp. Canton, Ohio Jan. 27, ’04 March 1 587.80 613.00 27.48 1.98 33.12 30,483,804 2,459,931 45
6 BB&T Corp. Winston-Salem, N.C. Main Street Banks Inc. Atlanta Dec. 14, ’05 June 1 621.40 599.00 27.45 1.99 20.64 107,080,153 2,332,029 24
7 Compass Bancshares Inc. Birmingham, Ala. TexasBanc Holding Co. Weatherford Sept. 17, ’05 March 24 459.20 480.70 2,631.16 3.56 21.66 29,502,927 1,834,709 24
8 New York Community Bancorp Inc. Westbury Atlantic Bank of New York Oct. 10, ’05 April 28 400.00 400.00 1,028.08 1.45 12.83 25,204,692 2,715,815 18
9 Rabobank Nederland Utrecht Central Coast Bancorp Salinas, Calif. Oct. 12, ’05 Jan. 31 371.40 371.40 25 3.24 22.47 2,933,015 1,233,327 15
10 Umpqua Holdings Corp. Portland, Ore. Western Sierra Bancorp Cameron Park, Calif. Feb. 7, ’06 June 2 356.30 351.60 43.45 2.61 19.34 5,360,639 1,277,593 33
11 First Midwest Bancorp Inc. Itasca, Ill. Bank Calumet Inc. Hammond, Ind. Dec. 12, ’05 March 31 307.00 307.00 153.59 2.31 21.46 7,201,261 1,198,193 30
12 Fulton Financial Corp. Lancaster, Pa. Columbia Bancorp Md. July 26, ’05 Feb. 1 310.70 305.60 42.11 3.14 18.90 11,571,083 1,316,763 24
13 First Community Bancorp Rancho Santa Fe, Calif. Foothill Independent Bancorp Glendora, Calif. Dec. 14, ’05 May 9 238.00 244.00 NA 3.47 21.62 3,129,534 798,706 12
14 Prosperity Bancshares Inc. Houston SNB Bancshares Inc. Sugar Land, Tex. Nov. 16, ’05 April 1 242.70 238.80 18.31 2.89 NM 3,493,972 1,025,336 7
15 East West Bancorp Inc. San Marino, Calif. Standard Bank FSB Monterey Park, Calif. Dec. 23, ’05 March 17 204.00 199.00 NA 2.00 21.16 7,938,378 922,548 6
16 Pinnacle Financial Partners Inc. Nashville Cavalry Bancorp Inc. Murfreesboro, Tenn. Sept. 30, ’05 March 15 175.30 188.40 25.66 3.22 25.69 872,076 638,324 10
17 Cascade Bancorp Bend, Ore. F and M Holding Co. Boise, Idaho Dec. 27, ’05 April 20 147.10 179.50 NA 4.22 27.07 1,354,747 612,377 11
18 Marshall & Ilsley Corp. Milwaukee Trustcorp Financial Inc. Saint Louis Dec. 21, ’05 April 1 180.10 179.20 38.25 3.14 18.50 44,995,293 748,360 7
19 MAF Bancorp Inc. Clarendon Hills, Ill. EFC Bancorp Inc. Elgin, Ill. June 29, ’05 Jan. 31 177.50 177.50 34.92 2.03 41.85 9,715,529 1,047,459 9
20 Placer Sierra Bancshares Sacramento Southwest Community Bancorp Carlsbad, Calif. Feb. 15, ’06 June 12 175.00 175.00 38.98 3.24 15.89 1,860,381 648,519 9
21 Synovus Financial Corp. Columbus, Ga. Riverside Bancshares Inc. Marietta, Ga. Sept. 6, ’05 March 24 171.30 172.80 30.28 3.65 18.98 27,075,090 672,547 5
22 Susquehanna Bancshares Inc. Lititz, Pa. Minotola National Bank Vineland, N.J. Nov. 14, ’05 April 21 166.10 166.80 3,262.28 2.06 26.41 7,539,967 633,098 13
23 Western Alliance Bancorp. Las Vegas Intermountain First Bancorp Las Vegas Dec. 30, ’05 March 31 109.60 126.70 82.69 4.09 21.81 2,745,014 463,067 5
24 Wintrust Financial Corp. Lake Forest, Ill. Hinsbrook Bancshares Inc. Willowbrook, Ill. Dec. 5, ’05 May 31 122.80 122.80 41.59 2.97 17.45 7,893,503 500,338 7
25 FNB Corp. Asheboro, N.C. Integrity Financial Corp. Hickory, N.C. Sept. 18, ’05 April 28 128.40 122.00 22.4 1.81 25.93 904,602 662,115 17
26 Whitney Holding Corp. New Orleans First National Bancshares Inc. Bradenton, Fla. July 27, ’05 April 13 120.00 120.00 34.64 3.85 34.70 8,920,289 378,691 7
27 First Community Bancorp Rancho Santa Fe, Calif. Cedars Bank Los Angeles Sept. 13, ’05 Jan. 4 120.00 120.00 NA 2.52 17.70 2,843,203 507,144 6
28 Alabama National BanCorp. Birmingham, Ala. Florida Choice Bankshares Inc. Mount Dora Oct. 27, ’05 April 3 108.80 117.60 41.58 3.21 NM 5,887,078 404,077 6
29 Capital Bank Corp. Raleigh 1st State Bancorp Inc. Burlington, N.C. June 29, ’05 Jan. 3 114.60 114.60 37.15 1.73 33.90 887,312 367,839 7
30 Cathay General Bancorp Inc. Los Angeles Great Eastern Bank New York Feb. 16, ’06 May 15 101.00 101.00 58.44 3.12 36.11 6,373,313 329,815 6
31 National Penn Bancshares Inc. Boyertown, Pa. Nittany Financial Corp. State College, Pa. Sept. 6, ’05 Jan. 26 97.80 97.40 41.58 3.72 25.40 4,593,900 340,821 5
32 Bay View Capital Corp. San Mateo, Calif. Great Lakes Bancorp Inc. Buffalo Oct. 26, ’05 May 1 67.70 89.10 21.75 2.50 NM 605,207 775,101 9
33 Cullen/Frost Bankers Inc. San Antonio Alamo Corp. of Texas Nov. 10, ’05 Feb. 28 87.00 87.00 99.09 3.23 24.44 10,280,229 312,219 10
34 NBT Bancorp Inc. Norwich, N.Y. CNB Bancorp Inc. Gloversville, N.Y. Jun. 13, ’05 Feb. 10 87.60 85.60 37.04 2.09 27.53 4,255,439 404,141 9
35 Synovus Financial Corp. Columbus, Ga. Banking Corp. of Florida Naples Oct. 24, ’05 April 1 82.60 84.50 47.94 3.14 17.91 27,075,090 347,334 3
36 National City Corp. Cleveland Forbes First Financial Corp. Saint Louis Dec. 21, ’05 May 1 78.50 78.50 NA 3.16 31.04 146,559,712 529,313 11
37 Western Alliance Bancorp. Las Vegas Bank of Nevada Las Vegas Jan. 16, ’06 April 29 74.00 74.00 80.19 2.89 17.13 2,745,014 282,965 3
38 F.N.B. Corp. Hermitage, Pa. Legacy Bank Harrisburg, Pa. Dec. 21, ’05 May 26 73.30 69.20 17.14 1.85 68.53 5,703,659 370,514 9
39 First Place Financial Corp. Warren, Ohio Northern Savings and Loan Co. Elyria, Ohio Jan. 27, ’06 June 27 72.40 64.90 26.33 1.50 29.21 2,626,531 340,975 6
40 RCB Holding Co. Claremore, Okla. Pioneer Bancshares Inc. Ponca City, Okla. Dec. 27, ’05 April 15 56.70 56.70 313.47 2.25 17.75 708,005 318,918 6
41 MainSource Financial Group Inc. Greensburg, Ind. Union Community Bancorp Crawfordsville, Ind. Aug. 23, ’05 March 17 56.30 56.30 27.33 1.70 NM 1,540,312 260,097 6
42 Castle Creek Capital III LLC Rancho Santa Fe, Calif. LDF Inc. Chicago Sept. 20, ’05 May 4 53.20 53.20 125 2.33 16.32 NA 499,321 2
43 Frontier Financial Corp. Everett, Wash. Northstar Financial Corp. Seattle Sept. 12, ’05 Jan. 31 47.90 51.70 56.65 3.61 26.20 2,506,222 180,476 2
44 Seacoast Banking Corp. of Florida Stuart Big Lake Financial Corp. Okeechobee, Fla. Nov. 22, ’05 April 1 42.90 51.50 86 2.34 17.67 2,086,073 323,893 10
45 NewAlliance Bancshares Inc. New Haven, Conn. Cornerstone Bancorp Inc. Stamford, Conn. April 12, ’05 Jan. 2 47.90 50.10 36.13 1.99 33.59 6,264,128 220,943 6
46 Marquette National Corp. Chicago Hemlock Federal Financial Corp. Oak Forest, Ill. Dec. 29, ’05 April 3 49.00 49.00 55.5 1.97 20.45 1,383,618 292,198 6
47 Flushing Financial Corp. Lake Success, N.Y. Atlantic Liberty Financial Corp Brooklyn, N.Y. Dec. 20, ’05 June 30 41.50 43.20 24.85 1.52 NM 2,306,030 180,079 2
48 MainSource Financial Group Inc. Greensburg, Ind. Peoples Ohio Financial Corp. Troy, Ohio Sept. 28, ’05 June 16 41.90 41.90 5.6 1.62 21.43 1,540,312 206,432 5
49 GBank and Trust Bancshares Inc. Gainesville, Ga. Mountain Bancshares Inc. Dawsonville, Ga. Dec. 19, ’05 April 28 41.90 40.80 28.25 3.31 35.63 1,613,806 136,146 2
50 American Founders Bank Inc. Frankfort, Ky. First Security Bancorp Inc. Lexington, Ky. Dec. 12, ’05 April 28 38.40 38.40 24 1.83 43.56 294,300 216,487 4
51 AmericanWest Bancorp. Spokane Columbia Trust Bancorp Pasco, Wash. Nov. 29, ’05 March 15 37.70 37.70 45.7 2.53 30.62 1,139,761 208,929 4
52 MainSource Financial Group Inc. Greensburg, Ind. HFS Bank FSB Hobart, Ind. Oct. 26, ’05 May 24 36.10 36.10 19.35 1.75 26.83 1,639,510 235,960 6
53 Union Bankshares Corp. Bowling Green, Va. Prosperity Bank and Trust Co. Springfield, Va. Oct. 31, ’05 April 1 36.00 36.00 90 3.16 21.88 1,791,446 124,870 3
54 Sun Bancorp Inc. Vineland, N.J. Advantage Bank Branchburg, N.J. Aug. 25, ’05 Jan. 19 37.00 35.80 18.24 2.54 41.59 3,140,962 169,941 5
55 Alpine Banks of Colorado Glenwood Springs First Colorado Bankshares Inc. Telluride Oct. 19, ’05 Jan. 1 35.60 35.60 NA 3.54 17.15 1,465,097 149,335 4
56 Commercial Capital Bancorp Inc. Irvine, Calif. CalNet Business Bank Sacramento Oct. 20, ’05 March 3 40.20 34.80 15.39 1.53 15.55 5,180,001 176,628 1
57 Community Partners Bancorp Middletown, N.J. Town Bank Westfield, N.J. Aug. 16, ’05 April 1 41.20 34.70 17.56 2.15 22.54 258,513 165,633 2
58 American National Bankshares Inc. Danville, Va. Community First Financial Corp. Lynchburg, Va. Oct. 18, ’05 April 1 33.10 34.40 22.23 2.51 37.30 616,853 162,014 4
59 First State Bancorp. Albuquerque Access Anytime Bancorp Inc. Albuquerque Aug. 31, ’05 Jan. 3 32.00 34.00 18.98 1.52 20.88 2,007,642 367,093 10
60 Bank of Choice Holding Co. Evans, Colo. First National Bank of Arvada Colo. Nov. 11, ’05 March 17 34.50 33.80 NA 2.37 41.47 415,820 191,879 2
61 Liberty Shares Inc. Hinesville, Ga. Peoples Banking Corp. Blackshear, Ga. Oct. 4, ’05 Jan. 23 33.40 33.40 515 1.52 13.94 313,740 164,057 3
62 Orrstown Financial Services Inc. Shippensburg, Pa. First National Bank of Newport Pa. Nov. 21, ’05 May 1 33.60 32.90 82.14 2.43 22.64 581,180 119,962 5
63 Security Bank Corp. Macon, Ga. Neighbors Bancshares Inc. Alpharetta, Ga. Nov. 22, ’05 March 31 32.50 32.40 24.16 3.11 24.61 1,345,566 114,802 1
64 Stark Bank Group Ltd. Fort Dodge, Iowa Pelican Financial Inc. Ann Arbor, Mich. Nov. 4, ’05 April 21 32.30 31.80 5.92 1.76 NM 1,091,276 180,440 6
65 Cullen/Frost Bankers Inc. San Antonio Texas Community Bancshares Inc. Dallas Sept. 1, ’05 Feb. 9 31.00 31.00 NA 3.10 37.26 9,950,973 122,130 1
66 First M and F Corp. Kosciusko, Miss. Columbiana Bancshares Inc. Ala. Oct. 12, ’05 Feb. 17 31.00 31.00 NA 2.13 56.93 1,207,852 184,871 6
67 Texas United Bancshares Inc. La Grange Northwest Bancshares Inc. Roanoke, Tex. Nov. 22, ’05 April 1 31.00 31.00 0.62 2.76 17.70 1,255,522 131,715 5
68 First Muskogee Financial Corp. Muskogee, Okla. First Financial Bancshares Inc. Roland, Okla. Jan. 19, ’06 March 31 30.00 30.00 25,114.74 2.39 19.47 112,305 176,319 3
69 Tower Bancorp Inc. Greencastle, Pa. FNB Financial Corp. McConnellsburg, Pa. Sept. 21, ’05 June 1 31.20 29.90 37.33 1.91 23.53 346,828 189,865 6
70 First Republic Bank San Francisco First Signature Bank and Trust Co. Portsmouth, N.H. Aug. 3, ’05 Jan. 31 26.60 26.60 NA 0.75 16.15 8,441,586 424,906 1
71 South Georgia Bank Holding Co. Omega Community National Bancorp. Ashburn, Ga. June 16, ’05 June 15 25.30 25.30 12.45 1.70 17.88 182,637 121,163 3
72 West Coast Bancorp Lake Oswego, Ore. Mid-Valley Bank Woodburn, Ore. Feb. 1, ’06 June 26 25.20 25.00 18.74 2.81 53.81 1,997,138 100,388 4
73 First Mid-Illinois Bancshares Inc. Mattoon Mansfield Bancorp Inc. Ill. Feb. 14, ’06 May 1 24.00 24.00 16,096.58 1.57 17.57 840,886 126,802 3
74 BankFinancial Corp. Burr Ridge, Ill. University National Bank Chicago Nov. 29, ’05 April 5 23.90 23.90 598.58 3.06 39.40 1,573,080 110,904 2
75 Summit Bank Corp. Atlanta Concord Bank NA Houston Dec. 8, ’05 April 1 23.70 23.70 38.23 2.03 26.90 534,210 116,044 1
Totals and averages for top 75 deals $17,874.00 $18,337.30   2.52 25.76   $85,830,229 951
Totals and averages for all deals $18,403.40 $18,864.50   2.21 25.86   $88,997,282 1,066


Source: SNL Financial, Charlottesville, Va. (www.snl.com)
© 2006 American Banker

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