Whole Bank and Thrift Bids Announced in the First Quarter of 2002

April 04, 2002, 10:08 a.m. EST 1 Min Read

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Whole Bank and Thrift Bids Announced in the First Quarter of 2002
Ranked by announced deal value. Dollars in thousands. Published April 4, 2002

	Buyer		Target		Announced		Announced price to:		Target's assets
					Date	Price	Equity	Net
1	Royal Bank of Canada	Toronto	Eagle Bancshares Inc.	Tucker, Ga.	26-Mar	$153,434	1.77x	81.90x	$1,148,807
2	South Financial Group Inc.	Greenville,S.C.	Gulf West Banks Inc.	St.Petersburg, Fla.	21-Mar	115,049	2.65	21.4	516,041
3	Charter Financial Corp. **	West Point, Ga.	Flag Financial Corp. **	La Grange, Ga.	15-Feb	87,506	1.52	19.99	566,744
4	S&T Bancorp Inc.	Indiana, Pa.	Peoples Financial Corp Inc.	Ford City, Pa.	20-Mar	87,434	2.13	17.41	324,897
5	Hawthorne Financial Corp.	El Segundo, Calif.	First Fidelity Bancorp Inc.	Tustin, Calif.	20-Mar	68,430	1.58	7.05	606,696
6	Kearny Financial Corp.	Kearny, N.J.	Pulaski Bancorp Inc.	Springfield, N.J.	10-Jan	64,276	2.53	61.47	237,596
7	Banknorth Group Inc.	Portland, Maine	Ipswich Bancshares Inc.	Ipswich, Mass.	27-Feb	41,441	2.6	14.51	303,632
8	Frandsen Financial Corp.	Forest Lake, Minn.	Community National Corp.	Grand Forks, N.D.	5-Jan	25,600	2.8	21.23	105,981
9	Yadkin Valley Bank and Trust Co.	Elkin, N.C.	Main Street BankShares Inc.	Statesville, N.C.	23-Jan	22,651	1.53	32.54	220,677
10	FNB Corp.	Asheboro, N.C.	Rowan Bancorp Inc.	China Grove, N.C.	12-Feb	21,749	2.09	36.4	113,510
11	Peoples Bancorp Inc.	Marietta, Ohio	First Colony Bancshares Inc.	Cambridge, Ohio	4-Jan	20,000	2.14	17.39	149,280
12	BCSB Bankcorp Inc.	Baltimore	WHG Bancshares Corp.	Lutherville, Md.	27-Feb	19,457	1.08	45.55	163,892
13	GB&T Bancshares Inc.	Gainesville, Ga.	Home Town Bank of Villa Rica	Ga.	31-Jan	17,157	2.27	55.7	89,498
14	Westamerica Bancorp.	San Rafael, Calif.	Kerman State Bank	Kerman, Calif.	25-Feb	15,771	1.34	16.85	102,184
15	First Community Capital Corp.	Houston	Express Bank	Alvin, Tex.	10-Jan	15,000	2.09	10.18	81,386
16	Northwest Bancorp Inc.	Warren, Pa.	Prestige Bancorp Inc.	Pleasant Hills, Pa.	7-Feb	14,566	1.21	NA	197,845
17	Citizens Holding Co.	Philadelphia, Miss.	CB&T Capital Corp.	Louisville, Miss.	22-Jan	13,000	1.47	NA	70,211
18	Prosperity Bancshares Inc.	Houston	Texas Guaranty Bank NA	Houston, Tex.	22-Feb	11,800	1.26	NA	75,019
19	CVB Financial Corp.	Ontario, Calif.	Western Security Bancorp	Burbank, Calif.	18-Jan	9,545	1.2	NA	145,249
20	First Financial Corp.	Arthur, N.D	Omega City Holding Co.	La Moure, N.D.	19-Feb	8,723	1.69	11.79	70,592
21	First Security Group Inc.	Chattanooga, Tenn	First State Bank	Maynardville, Tenn.	14-Mar	8,100	1.4	25.8	42,377
22	Pocahontas Bancorp Inc.	Pocahontas, Ark.	Peoples Bank of Imboden	Ark.	16-Jan	8,000	1.57	12.64	64,242
23	BFM Bancshares Inc.	Kingman, Kan.	Citizens National Bank	Anthony, Kan.	28-Jan	7,935	1.18	19.12	36,334
24	Community Bankshares Inc.	Denver	Rocky Ford Financial Inc.	Rocky Ford, Colo.	9-Jan	7,904	1.43	41.82	20,986
25	Landmark Bancorp	Anaheim, Calif.	Greater Pacific Bancshares	Whittier, Calif.	25-Jan	7,750	2.48	27.23	35,829
26	First Staunton Bancshares Inc.	Staunton, Ill.	Hamel Bancorp Inc.	Hamel, Ill.	14-Feb	7,473	1.7	13.56	53,331
27	Investor group	Mo.	Southwest Missouri Bancshares Inc.	Ozark	17-Jan	5,500	1.54	NA	44,130
28	American Bancorp., Inc.	Sapulpa, Okla.	Cleveland Holding Co.	Cleveland, Okla.	6-Feb	4,250	3.07	18.48	389,161
29	Empire Federal Bancorp Inc.	Livingston, Mont.	Montana First National Bancorp.	Kalispell	22-Jan	4,038	1.65	22.81	26,915
30	Berkshire Financial Holdings Inc.	Collegeville, Pa.	USABancShares.com Inc.	Philadelphia	11-Mar	3,438	1.15	NA	284,523
31	Folkston Investors, LLC	Savannah, Ga.	First National Corp.	Folkston, Ga.	17-Jan	3,416	1.58	29.45	29,840
32	Financial Institutions Inc.	Warsaw, N.Y.	Bank of Avoca	N.Y.	11-Jan	1,500	0.99	NA	18,413
33	Baraboo Bancorp Inc.	Baraboo, Wis.	Bancorp Inc.	Elcho, Wis., NA	20-Feb	NA	NA	NA	46,707
34	Charter One Financial Inc.	Cleveland	Charter National Bancorp Inc.	Wyandotte, Mich.	11-Jan	NA	NA	NA	272,209
35	FBOP Corp.	Oak Park, Ill.	Family Savings Bank FSB	Los Angeles	1-Mar	NA	NA	NA	195,957
36	Madison & Bradford Federal S&L Assn.	Forest Hill, Md.	Bohemian American Federal S&L Assn.	Baltimore	25-Jan	NA	NA	NA	42,359
37	MSB Capital Corp.	Columbus, Ohio	Pendleton Federal Savings Bank	Falmouth, Ky.	21-Jan	NA	NA	NA	43,901
38	State Bancshares of Ulen	Dilworth, Minn.	K. Roberts Inc.	Hendrum, Minn.	6-Mar	NA	NA	NA	22,037

**Hostile/unsolicited Bid