Top Line-of-Business Deals Announced in 2001
Published February 12, 2002, 10:08 a.m. EST
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Updated January 02, 1970, 9:08 a.m. EST
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Top Line-of-Business Deals Announced in 2001
| Announced in 2001 | |
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CREDIT CARD PORTFOLIOS/OPERATIONS | Buyer | Seller | Announcement Date | Closed (or status) | Price ($000) | Assets involved ($000) | |
| 1 | Bank One Corp. Chicago | Wachovia Corp. Winston-Salem, N.C. | 9-Apr | 27-Jul | NA | $7,500,000 | |
| 2 | Wachovia Corp. Charlotte, N.C. | Bank One Corp. Chicago | Sept. 7 | Pending | NA | 1,300,000 | |
| 3 | Citigroup Inc. New York | Peoples Bank Bridgeport, Conn. | 6-Apr | 6-Apr | $526,000 | 426,000 | |
| 4 | MBNA Corp. Wilmington, Del. | Abbey National PLC London | 19-Mar | 19-Mar | 413,000 | 349,000 | |
| 5 | Metris Cos. Inc. Minnetonka, Minn. | Provident Financial Group Inc. Cincinnati | Aug. 20 | Pending | NA | 160,000 | |
| 6 | Hudson United Bancorp Mahwah, N.J. | Transamerica Finance Corp. Los Angeles | 22-Mar | 31-Mar | 160,400 | 157,000 | |
| 7 | Undisclosed acquirer | Chittenden Corp. Burlington, Vt. | Feb. 15 | Feb. 15 | 43,630 | 39,000 | |
| 8 | American Express Co. New York | BSB Bancorp Inc. Binghamton, N.Y. | Nov. 1 | Pending | NA | 11,200 | |
| 9 | Citigroup Inc. New York | Canadian Tire Corp. Toronto | 2-Mar | 2-Mar | 87,400 | NA | |
| 10 | Fishback Financial Corp. Brookings, S.D. | Sterling Bancorp Inc. Southfield, Mich. | Oct. 10 | Pending | NA | NA | |
| 11 | Undisclosed acquirer | Warwick Community Bancorp Inc. Warwick, N.Y. | Oct. 31 | Pending | NA | NA | |
INSURANCE LINES/AGENCIES | Buyer | Seller | Announcement Date | Closed (or status) | Price ($000) | Assets involved ($000) | |
| 1 | Greater Bay Bancorp Palo Alto, Calif. | ABD Insurance and Financial Services Inc. Redwood City, Calif. | Dec. 19 | Pending | 200,500 | NA | |
| 2 | Arthur J. Gallagher & Co. Itasca, Ill. | Unified Financial Services Inc. Lexington, Ky. | Dec. 17 | Dec. 17 | 9,200 | NA | |
| 3 | First Financial Corp. Terre Haute, Ind. | Forrest Sherer Inc. Terre Haute, Ind. | 22-Mar | 30-Apr | 8,500 | NA | |
| 4 | Oak Hill Financial Inc. Jackson, Ohio | Innovative Financial Services Inc. Jackson, Ohio | Aug. 1 | Aug. 31 | 2,700 | NA | |
| 5 | Sussex Bancorp Franklin, N.J. | Tri-State Insurance Agency Inc. Augusta, N.J. | Oct. 1 | Oct. 1 | 2,450 | NA | |
| 6 | Pacific Century Financial Corp. Honolulu | Hawaiis Insurance Network | 26-Jun | 26-Jun | 1,627 | NA | |
| 7 | Indiana United Bancorp Greensburg, Ind. | Vollmer & Associates Inc. Brookville, Ind. | Jan. 12 | 1-Apr | 1,043 | NA | |
| 8 | First Charter Corp. Charlotte, N.C. | Hoffman & Young Inc. Charlotte, N.C. | 1-Jul | 1-Jul | 900 | NA | |
| 9 | NB&T Financial Group Inc. Wilmington, Ohio | Bacon Agencies Wilmington, Ohio | 3-May | 3-May | 865 | NA | |
| 10 | CoBiz Inc. Denver | Milek Insurance Services Inc. Denver | 1-Mar | 1-Mar | 778 | NA | |
| 11 | Hawarden Bancshares Inc. Hawarden, Iowa | G-W Insurance Services Inc. Hawarden, Iowa | 7-Mar | 31-Mar | 325 | 165 | |
| 12 | TIB Financial Corp. Key Largo, Fla. | BonData Co. Fort Myers, Fla. | Sept. 25 | Sept. 25 | 321 | NA | |
| 13 | Wells Fargo & Co. San Francisco | Acordia Inc. Minneapolis | 8-Mar | 1-May | NA | 866,000 | |
| 14 | First Tennessee National Corp. Memphis | Synaxis Group Inc. Nashville | Dec. 10 | Dec. 31 | NA | 275,000 | |
INVESTMENT ADVISORY MANAGEMENT SERVICES | Buyer | Seller | Announcement Date | Closed (or status) | Price ($000) | Assets involved ($000) | |
| 1 | FleetBoston Financial Corp. Boston | Liberty Financial Cos. Boston | 4-Jun | Nov. 1 | 1,010,000 | 51,000,000 | |
| 2 | Wells Fargo & Co. San Francisco | H.D. Vest Inc. Irving, Tex. | 23-Mar | 2-Jul | 127,500 | 183,000 | |
| 3 | Bank of Montreal Toronto | Guardian Capital Group Limited | 15-May | Pending | 126,000 | NA | |
| 4 | Amvescap PLC London | National City Corp. Cleveland | 1-Mar | 18-Apr | 90,300 | NA | |
| 5 | Wintrust Financial Corp. Lake Forest, Ill. | Wayne Hummer Inc. Chicago | Dec. 26 | Pending | 28,000 | 4,100,000 | |
| 6 | Synovus Financial Corp. Columbus, Ga. | Creative Financial Group Ltd. Atlanta | Jan. 16 | Feb. 28 | 26,086 | 940,000 | |
| 7 | SunTrust Banks Inc. Atlanta | Asset Management Advisors Jupiter, Fla. | 28-Mar | 28-Mar | 22,000 | NA | |
| 8 | First Republic Bank San Francisco | Starbuck, Tisdale & Associates Santa Barbara, Calif. | Dec. 17 | Pending | 13,000 | NA | |
| 9 | SunTrust Banks Inc. Atlanta | Citigroup Inc. New York | 14-May | 27-Jul | 11,900 | NA | |
| 10 | Boston Private Financial Holdings | Taylor Investments Inc. Concord, N.H. | Jan. 8 | Feb. 28 | 10,500 | 535,000 | |
| 11 | PennRock Financial Services Blue Ball, Pa. | National Advisory Group Inc. Dresher, Pa. | Jan. 11 | 19-Mar | 6,900 | 150,000 | |
| 12 | Bank of New York Co. Inc. New York | Hoenig Group Inc. Rye Brook, N.Y. | Nov. 29 | Pending | 4,750 | NA | |
| 13 | Camden National Corp. Camden, Maine | Gouws Capital Management Inc. Portland, Maine | 7-May | 19-Jul | 2,120 | 400,000 | |
| 14 | Boston Private Financial Holdings | Kanon Bloch Carre Boston | 29-Jun | Sept. 27 | 2,000 | NA | |
| 15 | ebank.com Inc. Atlanta | Peachtree Capital Corp. Atlanta | Dec. 31 | Pending | 950 | 100,000 | |
| 16 | UNB Corp. Canton, Ohio | Rownd Financial Advisors Corp. North Canton, Ohio | 13-Jun | 15-Jun | 551 | NA | |
| 17 | Commonwealth Bancshares Inc. Shelbyville, Ky. | SMC Capital Inc. Louisville, Ky. | Feb. 15 | 15-Mar | 125 | NA | |
| 18 | Mellon Financial Corp. Pittsburgh | Standish, Ayer & Wood Boston | 26-Apr | 31-Jul | NA | 41,000,000 | |
| 19 | State Street Corp. Boston | Nationwide Mutual Insurance Co. Columbus, Ohio | 17-Jul | Pending | NA | 25,000,000 | |
LOAN PORTFOLIOS | Buyer | Seller | Announcement Date | Closed (or status) | Price ($000) | Assets involved ($000) | |
| 1 | PNC Financial Services Group Pittsburgh | National Bank of Canada Montreal | Nov. 15 | Pending | 1,696,000 | 1,600,000 | |
| 2 | Patriarch Partners LLC New York | Canadian Imperial Bank of Commerce Toronto | Oct. 30 | Oct. 30 | 400,718 | 657,151 | |
| 3 | Educational Funding of the South Inc. Knoxville, Tenn. | First Tennessee National Corp. Memphis | 5-Mar | 2-Apr | 353,000 | 342,000 | |
| 4 | Undisclosed acquirer | Hamilton Bancorp Inc. Miami | Oct. 4 | Oct. 4 | 22,300 | 38,300 | |
| 5 | Dickinson Financial Corp. Kansas City, Mo. | Federal Deposit Insurance Corp. Washington | 24-May | 24-May | 3,735 | 3,830 | |
| 6 | U.S. Home Systems Inc. Lewisville, Tex. | Southwest Securities Group Inc. Dallas | Oct. 11 | Oct. 11 | 2,000 | NA | |
| 7 | Progressive Financial Services McKenzie, Tenn. | Federal Deposit Insurance Corp. Washington | 13-Mar | 13-Mar | 643 | 4,486 | |
| 8 | Beal Bank SSB Dallas | Federal Deposit Insurance Corp. Washington | 8-Jun | 8-Jun | 293 | 578 | |
| 9 | Textron Inc. Providence, R.I. | SunTrust Banks Inc. Atlanta | 5-Jun | 5-Jun | NA | 400,000 | |
| 10 | Undisclosed acquirer | Coast to Coast Financial Corp. Las Vegas | Feb. 13 | Feb. 13 | NA | 400,000 | |
| 11 | W Holding Co. Inc. Mayaguez, P.R. | First Union Corp. Charlotte, N.C. | 15-Jun | 15-Jun | NA | 325,000 | |
MORTGAGE BANKING OPERATIONS | Buyer | Seller | Announcement Date | Closed (or status) | Price ($000) | Assets involved ($000) | |
| 1 | Washington Mutual Inc. Seattle | National Australia Bank Ltd. Melbourne | Dec. 11 | Pending | 1,920,000 | 1,895,000 | |
| 2 | J.P. Morgan Chase & Co. New York | Advanta Corp. Spring House, Pa. | Jan. 8 | Feb. 28 | 1,600,000 | 15,800,000 | |
| 3 | Washington Mutual Inc. Seattle | FleetBoston Financial Corp. Boston | 2-Apr | 1-Jun | 660,000 | 143,900,000 | |
| 4 | NetBank Inc. Roswell, Ga. | Resource Bancshares Mortgage Group Inc. Columbia, S.C. | Nov. 19 | Pending | 151,371 | 1,158,461 | |
| 5 | NetBank Inc. Roswell, Ga. | Republic Bancorp Inc. Owosso, Mich. | 16-Apr | 29-Jun | 19,933 | NA | |
| 6 | Wells Fargo & Co. San Francisco | Bingham Financial Services Corp. Birmingham, Mich. | 22-May | 13-Jun | 8,571 | 1,200,000 | |
| 7 | Staten Island Bancorp Inc. New York | First Financial Inc. Wellesley, Mass. | 6-Mar | 6-Mar | 6,500 | NA | |
| 8 | Community Bankshares Inc. Orangeburg, S.C. | Resource Mortgage Inc. Columbia, S.C. | Oct. 3 | Oct. 31 | 1,145 | NA | |
| 9 | Pocahontas Bancorp Inc. Pocahontas, Ark. | Southern Mortgage Corp. Tulsa, Okla. | 17-Jul | Pending | 950 | NA | |
| 10 | National Bancshares Inc. Bettendorf, Iowa | FirstCity Mortgage Corp. Bettendorf, Iowa | 2-Mar | 6-Jun | 520 | NA | |
| 11 | Mountainbank Financial Corp. Hendersonville, N.C. | Premier Mortgage Associates Inc. Greenwood, S.C. | 27-Apr | Pending | 460 | NA | |
| 12 | American Home Mortgage Holdings Inc. New York | Commonwealth Bancorp Inc. Norristown, Pa. | Feb. 9 | 30-Mar | 30 | NA | |
| 13 | PNC Financial Services Group Pittsburgh | TRI Capital Corp. San Francisco | 15-May | Oct. 17 | NA | 1,800,000 | |
SERVICING PORTFOLIO | Buyer | Seller | Announcement Date | Closed (or status) | Price ($000) | Assets involved ($000) | |
| 1 | Ocwen Financial Corp. West Palm Beach, Fla. | New Century Financial Corp. Irvine, Calif. | 1-Mar | 30-Mar | 19,700 | 4,800,000 | |
| 2 | Ocwen Financial Corp. West Palm Beach, Fla. | Metropolitan Mortgage and Securities Co. Spokane, Wash. | 18-Apr | 18-Apr | NA | 1,800,000 | |
| 3 | Undisclosed acquirer | 1st Source Corp. South Bend, Ind. | Jan. 17 | 5-Apr | NA | 1,000,000 | |
| 4 | Wilshire Financial Services Group Portland, Ore. | Life Financial Corp. Riverside, Calif. | Feb. 27 | Feb. 27 | NA | 500,000 | |
| 5 | Wilshire Financial Services Group Portland, Ore. | Fifth Third Bancorp Cincinnati | 16-Jul | 16-Jul | NA | 178,000 | |
| 6 | Bank of New York Co. Inc. | Mavricc Management Systems Inc. Greenwich, Conn. | Aug. 9 | Aug. 9 | NA | NA | |
| 7 | Investor group San Mateo, Calif. | Bay View Capital Corp. San Mateo, Calif. | 22-Jun | 22-Jun | NA | NA | |
SECURITIES BROKERAGE | Buyer | Seller | Announcement Date | Closed (or status) | Price ($000) | Assets involved ($000) | |
| 1 | Royal Bank of Canada Toronto | Tucker Anthony Sutro Corp. Boston | Aug. 1 | Oct. 31 | $625,000 | NA | |
| 2 | Bank of Montreal Toronto | CSFB Direct New York | Nov. 28 | Pending | 520,000 | NA | |
| 3 | E-Trade Group Inc. Menlo Park, Calif. | Dempsey & Co. Chicago | Aug. 29 | Oct. 1 | 173,500 | NA | |
| 4 | Ameritrade Holding Corp. Omaha | Deutsche Bank AG Frankfurt | 31-Jul | Sept. 6 | 154,000 | $6,300,000 | |
| 5 | Charles Schwab Corp. San Francisco | Aitken Campbell & Co. Glasgow | Jan. 31 | 15-May | 87,000 | NA | |
| 6 | E-Trade Group Inc. Menlo Park, Calif. | Web Street Inc. Deerfield, Ill. | 21-May | Aug. 6 | 32,000 | NA | |
| 7 | J.P. Morgan Chase & Co. New York | Mellon Financial Corp. Pittsburgh | Dec. 21 | Pending | NA | 6,000,000 | |
SPECIALTY FINANCE | Buyer | Seller | Announcement Date | Closed (or status) | Price ($000) | Assets involved ($000) | |
| 1 | ABN Amro North America Inc. Chicago | ING Groep NV Amsterdam | Jan. 30 | 30-Apr | 275,000 | 263,000 | |
| 2 | Capital One Financial Corp. Falls Church, Va. | PeopleFirst Inc. San Diego | Sept. 21 | Oct. 15 | 167,500 | NA | |
| 3 | Capital One Financial Corp. Falls Church, Va. | AmeriFee Southborough, Mass. | 9-May | 9-May | 81,500 | NA | |
| 4 | National City Corp. Cleveland | ABN Amro North America Inc. Chicago | 28-Jun | 28-Jun | 48,500 | NA | |
| 5 | Affiliated Computer Services Dallas | National City Corp. Cleveland | 12-Jul | Aug. 29 | 43,000 | NA | |
| 6 | Allied Irish Banks Ltd. Dublin | Community Counselling Service Co. Inc. New York | 23-Mar | 17-May | 43,000 | 1,000 | |
| 7 | Sterling Financial Corp. Lancaster, Pa. | Equipment Finance Inc. Lititz, Pa. | Nov. 5 | Pending | 30,000 | 70,000 | |
| 8 | Greater Bay Bancorp Palo Alto, Calif. | Capco Financial Co. Inc. Bellevue, Wash. | 15-Mar | 30-Mar | 9,900 | 28,000 | |
| 9 | Sterling Financial Corp. Spokane, Wash. | Source Capital Corp. Spokane, Wash. | 27-Jun | Sept. 28 | 9,743 | NA | |
| 10 | Gold Banc Corp. Inc. Leawood, Kan. | Ott Financial Corp. Wichita, Kan. | 30-Mar | 30-Mar | 2,700 | NA | |
| 11 | Wells Fargo & Co. San Francisco | Conseco Inc. Carmel, Ind. | Jan. 31 | Jan. 31 | NA | 860,000 | |
| 12 | Webster Financial Corp. Waterbury, Conn. | Center Capital Corp. Farmington, Conn. | 15-Mar | 15-Mar | NA | 260,000 | |
TRUST SERVICES | Buyer | Seller | Announcement Date | Closed (or status) | Price ($000) | Assets involved ($000) | |
| 1 | Bank of New York Co. Inc. | Charles Schwab Corp. San Francisco | 18-Apr | 1-Jun | NA | 348,000,000 | |
| 2 | Bank of New York Co. Inc. | FleetBoston Financial Corp. Boston | 6-Mar | 6-Mar | NA | 15,700,000 | |
| 3 | Wells Fargo & Co. San Francisco | SIFE Walnut Creek, Calif. | Aug. 30 | Pending | NA | 789,000 | |
| 4 | BB&T Corp. Winston-Salem, N.C. | Southeastern Trust Co. Greenville, S.C. | Aug. 29 | Nov. 8 | 12,000 | 700,000 | |
| 5 | Camden National Corp. Camden, Maine | Acadia Trust Portland, Maine | 7-May | 19-Jul | 3,180 | 400,000 | |
| 6 | Northwest Bancorp Inc. Warren, Pa. | Heritage Trust Co. Erie, Pa. | Jan. 30 | 27-Apr | NA | 300,000 | |
| 7 | Bank of New York Co. Inc. | Central Bancompany Jefferson City, Mo. | Nov. 8 | Pending | NA | 250,000 | |
| 8 | Wells Fargo & Co. San Francisco | Midland Trust Co. NA Midland, Tex. | 7-Apr | 7-Apr | NA | 10,000 |
©2002 American Banker
Source: Thomson Financial/Sheshunoff Information Services (www.shshunoff.com)