Top Line-of-Business Acquisitions Announced in 1999
February 07, 2000, 10:08 a.m. EST 1 Min Read
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Top Line-of-Business Acquisitions Announced in 1999
Acquisitions Announced in 1999 | |
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