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Top Line-of-Business Acquisitions Announced in 1999

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Top Line-of-Business Acquisitions Announced in 1999

Top Line-of-Business
Acquisitions Announced in 1999

(Dollar amounts in millions)
Published February 7, 2000

Rank

Buyer

Seller

Announced date

Completed date or status

Acquisition price

Assets purchased

CREDIT CARD PORTFOLIOS

1

Wachovia Corp. Bank of Montreal Dec. 22, 1999 Pending $2,149.8 $1,985.0

2

MBNA Corp. SunTrust Banks Inc. Oct. 15, 1999 Nov. 17, 1999 1,800.0 1,500.0

3

Associates First Capital Corp. KeyCorp Dec. 28, 1999 Pending 1,630.0 1,300.0

4

Citigroup Inc. Fuji Bank Ltd. Nov. 2, 1999 Pending 382.0 NA

5

MBNA Corp. First Virginia Banks Inc. March 11, 1999 March 31, 1999 114.0 103.0

6

Inficorp WesBanco Inc. June 7, 1999 June 7, 1999 18.4 15.4

7

First National of Nebraska USBANCORP April 1, 1999 April 1, 1999 16.2 14.0

8

Associates First Capital Corp. Shell Oil Co. Jan. 13, 1999 Feb. 1, 1999 NA 272.0

9

PMT Services Inc. Sycamore Bancshares Inc. Feb. 15, 1999 Feb. 15, 1999 NA NA

10

MBNA Corp. Sanwa Bank Ltd. March 18, 1999 March 18, 1999 NA 25.0

11

Citigroup Inc. Mellon Financial Corp. March 23, 1999 March 31, 1999 NA 1,900.0

12

Asta Funding Inc. Bank One Corp. March 31, 1999 March 31, 1999 NA 1,350.0

13

First Data Corp. Sanwa Bank Ltd. April 15, 1999 April 15, 1999 NA NA

14

Metris Cos. General Electric Capital Corp. May 10, 1999 June 30, 1999 NA 1,200.0

15

Bank One Corp. Carolina First Corp. May 13, 1999 May 13, 1999 NA 112.0
INSURANCE LINES

1

National Bancshares Corp. of Texas PennCorp Financial Group Inc. Nov. 24, 1999 Pending $29.2 NA

2

BancorpSouth Inc. Stewart Sneed Hewes Insurance April 26, 1999 June 30, 1999 23.6 NA

3

Sky Financial Group Inc. Picton Cavanaugh Inc. March 15, 1999 May 1, 1999 8.1 NA

4

FNB Corp. Gelvin, Jackson & Starr, Inc. June 24, 1999 Aug. 20, 1999 4.3 2.1

5

Union National Bancorp Barnes-Bollinger Insurance Services Inc. Feb. 16, 1999 June 18, 1999 3.0 1.1

6

Commerce Bancorp Mullaney Insurance Associates Inc. July 27, 1999 Pending 2.7 NA
INVESTMENT ADVISORY

1

Chase Manhattan Corp. Hambrecht & Quist Group Sept. 28, 1999 Dec. 9, 1999 $1,350.0 $814.6

2

ReliaStar Financial Corp. Pilgrim Capital Corp. July 22, 1999 Oct. 29, 1999 258.0 7,600.0

3

Raymond James Financial Inc. Bank One Corp. April 14, 1999 May 28, 1999 80.0 NA

4

U.S. Trust Corp. North Carolina Trust Co. May 17, 1999 Aug. 31, 1999 41.5 2,100.0

5

United Community Financial Corp. Butler Wick Corp. April 16, 1999 Aug. 12, 1999 21.9 NA

6

Independent Community Bankshares Gilkison & Patterson Investment Advisors, Inc. June 25, 1999 Aug. 9, 1999 6.0 NA

7

Boston Private Financial Holdings RINET Co. July 22, 1999 Oct. 15, 1999 6.0 NA

8

Umpqua Holdings Corp. Strand, Atkinson, Williams, & York Inc. May 11, 1999 Nov. 30, 1999 2.1 NA

9

BancFirst Ohio Corp. Chornyak & Associates Inc. April 5, 1999 April 5, 1999 2.1 NA
LOAN PORTFOLIOS

1

Wells Fargo & Co. TCF Financial Corp. Sept. 9, 1999 Pending $95.0 $90.0

2

Corus Bankshares Inc. Undisclosed Seller Jan. 29, 1999 Jan. 29, 1999 80.5 81.0

3

BankBoston Corp. Chastain Capital Corp. Aug. 17, 1999 Pending 21.8 21.0

4

Ocwen Financial Corp. FDIC June 9, 1999 June 9, 1999 12.7 13.1

5

Dickinson Financial Corp. FDIC June 14, 1999 June 14, 1999 7.4 7.7
MORTGAGE BANKING OPERATIONS

1

Washington Mutual Inc. Long Beach Financial Corp. May 19, 1999 Oct. 1, 1999 $374.8 $2,000.0

2

Citigroup Inc. Fund American Enterprise Holdings Inc. March 25, 1999 May 3, 1999 300.0 NA

3

National City Corp. Bank of America Corp. July 27, 1999 Aug. 31, 1999 266.1 NA

4

BostonFed Bancorp Forward Financial Co. Aug. 4, 1999 Dec. 6, 1999 40.0 NA

5

Household International Inc. Decision One Mortgage Co. July 22, 1999 Aug. 15, 1999 16.0 58.0
MORTGAGE SERVICING

1

Citigroup Inc. IMC Mortgage Co. Nov. 15, 1999 Nov. 15, 1999 $96.0 NA

2

National Australia Bank Ltd. Bank One Corp. March 4, 1999 March 31, 1999 NA 10,000.0

3

Bank of New York Co. Capital Company of America Client Services LLC March 31, 1999 April 30, 1999 NA NA

4

GMAC Mortgage Corp. Mellon Financial Corp. April 1, 1999 Aug. 2, 1999 NA 14,000.0

5

Nutmeg Federal Savings & Loan Assn. York Financial Corp. April 13, 1999 May 30, 1999 NA 84.2

6

CB&T Holding Corp. Community First Bankshares May 28, 1999 May 28, 1999 NA 10.0
SPECIALTY FINANCE

1

General Motors Corp. Bank of New York Co. June 8, 1999 July 22, 1999 $1,800.0 $3,900.0

2

Bay View Capital Corp. Franchise Mortgage Acceptance Co. March 11, 1999 Oct. 29, 1999 285.0 NA

3

E-Loan, Inc. Bank of America Corp. Aug. 23, 1999 Sept. 17, 1999 67.3 NA

4

Thaxton Investment Corp. FirstPlus Financial Group Inc. Jan. 14, 1999 Feb. 2, 1999 51.0 NA

5

Synovus Financial Corp. Wallace & De Mayo July 26, 1999 Sept. 30, 1999 43.4 NA

6

Susquehanna Bancshares Inc. Boston Service Company Inc. Nov. 18, 1999 Pending 42.3 800.0

7

International Payment Services Inc. National City Corp. April 14, 1999 May 31, 1999 38.0 NA

8

Temple-Inland Inc. PLM International Inc. Oct. 26, 1999 Pending 29.0 NA

9

First Sierra Financial Inc. Fifth Third Bancorp July 19, 1999 July 19, 1999 12.3 3,600.0

10

Heritage Commerce Corp. Business Factors Inc. Sept. 17, 1999 Terminated 11.0 21.3

11

Marquette Bancshares Inc. Itasca Business Credit, LLC Sept. 2, 1999 Pending 9.9 10.2

12

Atlantic Bank of New York Standard Funding Corp. Jan. 29, 1999 June 18, 1999 9.7 NA
TRUST SERVICES

1

PNC Bank Corp. First Data Corp. July 20, 1999 Nov. 30, 1999 $1,100.0 NA

2

Wachovia Corp. Offitbank Holdings Inc. May 13, 1999 Sept. 1, 1999 203.5 11,000.0

3

U.S. Bancorp Reliance Trust Co. Jan. 7, 1999 March 16, 1999 NA NA

4

Bank of New York Co. Union Planters Corp. March 1, 1999 May 11, 1999 NA NA

5

Bankers Trust Corp. Sumitomo Trust & Banking Co. March 4, 1999 March 4, 1999 NA NA

6

Bank of New York Co. Royal Bank of Scotland Group March 23, 1999 Oct. 31, 1999 NA 9,500.0

7

Unionbancal Corp. Imperial Bancorp April 23, 1999 April 30, 1999 NA 10,000.0

8

Mellon Financial Corp. Bank of Montreal May 17, 1999 July 5, 1999 NA NA

9

Bank of New York Co. IBJ Whitehall Bank & Trust June 30, 1999 Oct. 7, 1999 NA NA

10

Bank of New York Co. LTCB Trust Co. July 22, 1999 July 22, 1999 NA 15,600.0

11

Trust Company of Connecticut Bancorp Connecticut Inc. Aug. 25, 1999 Sept. 30, 1999 NA 85.0

12

State Street Corp. Wachovia Corp. Sept. 9, 1999 Pending NA NA

13

Bank of New York Company Inc. Barclays PLC Oct. 21, 1999 Pending NA NA

14

National Australia Bank Ltd. Citizens Banking Corp. Dec. 29, 1999 Pending NA NA

Source: Sheshunoff Information Services, Austin, Tex., a Thomson Financial company. NA - not available.
©  2000 American Banker

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