M&A

Top Branch Deals Announced in the First Half of 2003

View Table
Printer Friendly Version
Top Branch Deals Announced in the First Half of 2003

Top Branch Deals Announced in the First Half of 2003
Ranked by deposits sold. Dollars in thousands
Published August 5, 2003
Date Branches
Buyer Target Announced Completed Number Deposits Premium to deposits Branch location
1 M&T Bank Corp. Buffalo Allied Irish Banks Ltd. Dublin April 1 pending 1 $247,000 NA N.Y.
2 Virginia Financial Group Inc. Culpeper BB&T Corp. Winston-Salem, N.C. June 12 pending 8 226,000 NA Va.
3 Trustmark Corp. Jackson, Miss. Banc Corp. Birmingham, Ala. May 22 pending 7 205,000 22.83 Fla.
4 First Defiance Financial Corp. Defiance, Ohio Rurban Financial Corp. Defiance, Ohio Feb. 24 June 9 3 176,000 10.5 Ohio
5 First United Corp. Oakland, Md. Huntington Bancshares Inc. Columbus, Ohio Feb. 13 pending 4 140,000 11 W.Va.
6 Fidelity BancShares Inc. Fuquay-Varina, N.C. First Citizens BancShares Inc. Raleigh Feb. 11 pending 4 116,158 7.93 VA, NC
7 First Midwest Bancorp Inc. Itasca, Ill. Northern Trust Corp. Chicago April 15 June 16 1 106,000 17.65 Ill.
8 Grand Bank NA Hamilton, N.J. MetLife Inc. New York Feb. 26 pending 1 78,994 NA N.J.
9 First Citizens Bancorp of South Carolina Columbia National Commerce Financial Corp. Memphis June 30 pending 4 73,400 NA S.C.
10 Eastern Virginia Bankshares Inc. Tappahonnock BB&T Corp. Winston-Salem, N.C. June 12 pending 3 70,000 NA Va.
11 FirsTier Bank Bushnell, Neb. Compass Bancshares Inc. Birmingham, Ala. April 10 June 7 2 66,556 2.4 Neb.
12 Peoples Community Bancorp Inc. West Chester, Ohio Ameriana Bancorp New Castle, Ind. April 7 pending 2 63,100 6.91 Ohio
13 Legacy Bank Harrisburg, Pa. Leesport Financial Corp. Wyomissing, Pa. April 22 pending 3 60,000 NA Pa.
14 Plumas Bancorp Quincy, Calif. Belvedere Capital Partners San Francisco April 30 pending 5 56,827 NA Calif.
15 Pulaski Financial Corp St. Louis First Federal Bank FSB Kansas City June 26 pending 1 41,000 NA Mo.
16 Whitcorp Financial Co. Leoti, Kan. Western Kansas Bancshares Ulysses, Kan. Jan. 31 April 10 2 38,685 4.32 Kan.
17 Brinkley Bancshares Inc. Ark. Pocahontas Bancorp Inc. Jonesboro, Ark. June 5 pending 1 36,000 6.94 Ark.
18 City National Bancshares Guymon, Okla. Gold Banc Corp. Inc. Leawood, Kan. Jan. 7 April 11 1 36,000 NA Okla.
19 Exchange National Bancshares Inc. Jefferson City, Mo. Trustcorp Financial Inc. St. Louis April 11 pending 1 34,000 11.76 Mo.
20 Labette County Bankshares Altamont, Kan. Gold Banc Corp. Inc. Leawood, Kan. June 11 pending 2 34,000 4.33 Kan.
21 Provident Financial Services Inc. Jersey City, N.J. Sun Bancorp Inc. Vineland, N.J. April 14 pending 3 26,085 NA N.J.
22 Allegiant Bancorp Inc. St. Louis, Mo. Love Savings Holding Co. St. Louis March 19 pending 1 24,600 5.05 Mo.
23 First Rushmore Bancorp Inc. Worthington, Minn. Bremer Financial Corp. St. Paul Feb. 10 pending 2 23,111 3.18 Minn.
24 Standard Bancshares Inc. Evergreen Park, Ill. Umbrella Bancorp Inc. Summit, Ill. Feb. 14 April 26 1 21,285 3 Ill.
25 Citizens Financial Corp. Fort Atkinson, Wis. Marshall & Ilsley Corp. Milwaukee June 17 pending 1 20,000 NA Wis.
26 Independence Bancshares Inc. Iowa Union Planters Corp. Memphis Jan. 2 March 21 2 19,956 9.75 Iowa
27 HNB Corp. Arkansas City, Kan. NBC Bancshares in Pawhuska Okla. Feb. 1 May 2 1 18,000 NA Okla.
28 FMS Financial Corp. Burlington, N.J. Sun Bancorp Inc. Vineland, N.J. March 28 March 28 1 17,900 7.35 N.J.
29 Citizens Bancorp of Morehead Ky. Integra Bank Corp. Evansville, Ind. June 19 June 19 1 17,000 5.88 Ky.
30 Farmers Exchange Bancorp. Cherokee, Okla. Gold Banc Corp. Inc. Leawood, Kan. March 4 June 11 2 17,000 NA Okla.
31 Gateway Financial Holdings Inc. Elizabeth City, N.C. National Commerce Financial Corp. Memphis April 11 pending 1 16,656 NA N.C.
32 NBT Bancorp Inc. Norwich, N.Y. Alliance Financial Corp. Syracuse, N.Y. March 27 pending 1 15,703 NA N.Y.
33 National City Corp. Cleveland Shorebank Corp. Chicago March 26 pending 2 14,652 NA Mich.
34 First Citizens BancShares Inc. Raleigh First Virginia Banks Inc. Falls Church, Va. Feb. 3 pending 1 13,730 NA Va.
35 Baylake Corp. Sturgeon Bay, Wis. Marshall & Ilsley Corp. Milwaukee June 10 pending 1 13,600 NA Wis.
36 Connecticut River Bancorp Charlestown, N.H. Factory Point Bancorp Inc. Manchester Center, Vt. May 15 pending 1 13,080 NA Vt.
37 OSB Bancorp Inc. Osgood, Ohio First Financial Bancorp Hamilton, Ohio May 14 pending 1 12,688 NA Ohio
38 Wabeno Bancorp. Inc. Wis. Marshall & Ilsley Corp. Milwaukee Feb. 26 pending 1 12,388 NA Wis.
39 First Citizens Bancorp. of South Carolin Columbia South Financial Group Inc. Greenville, S.C. March 14 pending 1 11,699 NA S.C.
40 Bank of Montgomery County Wellsville, Mo. First Banks Inc. St. Louis April 30 pending 1 11,075 4.26 Mo.
41 Kansas Bank Corp. Johnson Whitcorp Financial Co. Leoti, Kan. May 27 pending 1 11,021 5.08 Kan.
42 Cornerstone Bank Moorestown, N.J. First Investors Consolidated Woodbridge, N.J. April 16 pending 1 9,549 NA N.J.
43 Valley Commerce Bancorp Visalia, Calif. Humboldt Bancorp Eureka, Calif. May 19 pending 1 9,000 NA Calif.
44 FirstFed Bancorp Inc. Bessemer, Ala. SouthFirst Bancshares Inc. Sylacauga, Ala. June 4 pending 1 8,700 NA Ala.
45 Lathrop Bank Mo. C&M Bancshares Inc. Cameron, Mo. April 30 pending 1 8,458 13.01 Mo.
46 MAF Bancorp Inc. Clarendon Hills, Ill. Umbrella Bancorp Inc. Summit, Ill. Feb. 17 March 31 1 6,700 NA Ill.
47 Legends Bank Clarksville, Tenn. National Commerce Financial Corp. Memphis Jan. 6 pending 3 3,684 5.24 Tenn.
48 Wilson Bancshares Inc. Kan. McNee Inc. Grainfield, Kan. Jan. 6 Feb. 22 1 3,148 NA Kan.
49 CFS Bancorp Inc. Munster, Ind. Community Holdings Corp. Palos Hills, Ill. May 30 pending 1 2,709 NA Ill.
  Totals and averages for branch transactions   145 $6,513,103 6.95%  


Source: Sheshunoff Information Services, a division of Thomson Corp.
©2003 American Banker

M&A