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Whole Bank and Thrift Deals Completed in the Fourth Quarter of 2002

January 16, 2003, 10:08 a.m. EST 1 Min Read
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Whole Bank and Thrift Deals Completed in the Fourth Quarter of 2002

Whole Bank and Thrift Deals Completed in the Fourth Quarter of 2002
Ranked by price at completion. Dollars in thousands
Published January 16, 2003
Date Price Price* to target's: Target's:
Buyer Target Announced Completed Announced Completed Book 12-mo. net Branches Assets
1 Citigroup Inc. New York Golden State Bancorp Inc. San Francisco May 21, 2002 November 6, 2002 $5,754,995 $5,227,237 1.86 12.36 352 $54,088,675
2 Marshall & Ilsley Corp. Milwaukee Mississippi Valley Bancshares Inc. St. Louis June 17, 2002 October 1, 2002 507,509 501,942 2.85 17.04 8 2,042,192
3 Citizens Financial Group Inc. Providence, R.I. Medford Bancorp Inc. Mass. June 13, 2002 October 15, 2002 281,958 283,363 2.28 19.2 21 1,446,167
4 Umpqua Holdings Corp. Portland, Ore. Centennial Bancorp Portland, Ore. July 23, 2002 November 15, 2002 218,714 229,674 2.24 19.87 22 820,522
5 UCBH Holdings Inc. San Francisco Bank of Canton of California San Francisco July 3, 2002 October 28, 2002 218,465 222,947 1.28 16.19 12 1,448,770
6 Rabobank Group Utrecht VIB Corp El Centro, Calif. July 31, 2002 December 27, 2002 212,448 213,912 2.13 15.95 26 1,319,739
7 BankNorth Group Inc. Portland, Maine Warren Bancorp Inc. Peabody, Mass. August 8, 2002 December 31, 2002 125,586 127,006 2.6 18.93 8 459,726
8 Pacific Northwest Bancorp Seattle Bank of the Northwest Portland, Ore. July 22, 2002 November 13, 2002 84,279 79,225 2.53 18.76 5 353,801
9 First State Bancorp. Albuquerque First Community Industrial Bank Denver May 22, 2002 October 1, 2002 67,000 67,154 2.18 9.53 10 412,951
10 South Financial Group Inc. Greenville, S.C. Central Bank of Tampa October 3, 2002 December 31, 2002 68,000 66,976 2.33 16.5 5 214,640
11 Kearny Financial Corp. N.J. Pulaski Bancorp Inc. Springfield, N.J. January 10, 2002 October 21, 2002 64,276 64,276 2.43 39.08 9 236,989
12 Partners Trust Financial Group Inc. Utica, N.Y. Herkimer Trust Corp. Little Falls, N.Y. August 13, 2002 December 27, 2002 64,000 64,000 2.21 18.55 12 323,620
13 KeyCorp Cleveland Union Bankshares Ltd. Denver, Colo. September 25, 2002 December 12, 2002 62,956 63,381 1.73 15.83 7 453,822
14 BOK Financial Corp. Tulsa Bank of Tanglewood Houston May 16, 2002 October 25, 2002 65,000 62,871 3.29 20.53 4 234,696
15 UnionBanCal Corp. San Francisco Valencia Bank and Trust Santa Clarita, Calif. August 6, 2002 October 31, 2002 62,000 62,500 2.76 18.32 5 267,209
16 United Community Bancorp Hickory, N.C. Community Bancshares Inc. Wilkesboro, N.C. August 5, 2002 December 31, 2002 35,799 34,982 1.99 32.8 6 137,148
17 NSB Holding Corp. New York Liberty Bancorp Inc. Avenel, N.J. May 16, 2002 December 31, 2002 34,616 34,463 2.56 55.36 6 345,139
18 Main Street Banks Inc. Kennesaw, Ga. First National Bank of Johns Creek Suwanee, Ga. July 18, 2002 December 11, 2002 27,013 26,061 2.39 38.81 2 99,671
19 Merchants and Manufacturers Bancorp New Berlin, Wis. Fortress Bancshares Inc. Westby, Wis. June 3, 2002 November 30, 2002 21,170 21,210 1.39 11.64 11 206,635
20 Prosperity Bancshares Inc. Houston Southwest BHC Dallas July 15, 2002 October 1, 2002 21,000 19,600 1.34 16.46 3 129,595
21 Grupo Caixa Geral de Depositos Lisbon Crown Bank Ocean City, N.J. October 4, 2001 October 24, 2002 17,916 19,397 1.5 17.04 7 105,941
22 Capital Bank Corp. Raleigh High Street Corp. Asheville, N.C. May 1, 2002 December 1, 2002 20,710 17,873 1.15 N/M 4 164,361
23 Gainesville Bank and Trust Bancshares Inc. Ga. HomeTown Bank of Villa Rica Ga. January 31, 2002 November 30, 2002 13,531 15,430 1.86 46.41 2 96,442
24 NASB Financial Inc. Grandview, Mo. CBES Bancorp Inc. Excelsior Spring, Mo. September 6, 2002 December 20, 2002 15,331 15,331 1.09 N/M 2 112,916
25 Aviston Financial Corp. Trenton, Ill. Aviston Bancorp Inc. Ill. June 26, 2002 November 15, 2002 15,000 15,000 1.53 12.33 2 94,023
26 Johnson International Inc. Racine, Wis. Capital Bancshares Inc. Green Bay, Wis. July 16, 2002 October 1, 2002 14,802 14,802 1.68 14.79 2 79,051
27 FBOP Corp. Oak Park, Ill. American Home Loan Corp. Phoenix June 24, 2002 October 3, 2002 14,697 14,395 2.44 8.97 2 116,177
28 Putnam-Greene Financial Corp. Eatonton, Ga. Citizens Bank of Cochran Ga. September 5, 2002 November 15, 2002 14,000 14,000 2.3 9.23 1 77,178
29 Centerstate Banks of Florida Inc. Winter Haven Centerstate Bank of Florida Winter Haven April 16, 2002 December 31, 2002 13,903 13,258 1.46 N/M 4 64,237
30 Hazlehurst Investors Inc. Ga. Bank of Hazlehurst Ga. July 9, 2002 December 13, 2002 11,500 11,500 2.33 7.93 2 61,716
31 P.C.B. Bancorp Inc. Largo, Fla. Gateway American Bancshares Inc. Fort Lauderdale, Fla. June 25, 2002 October 4, 2002 11,259 11,259 1.18 N/M 5 93,449
32 First Federal Bancshares Inc. Colchester, Ill. PFSB Bancorp Inc. Palmyra, Mo. June 4, 2002 November 22, 2002 9,229 9,905 1.04 23.85 3 71,906
33 South Financial Group Inc. Greenville, S.C. RHBT Financial Corp. Rock Hill, S.C. August 22, 2002 October 31, 2002 8,605 9,310 1.48 N/M 3 250,578
34 Zions Bancorp. Salt Lake City Frontier State Bank Show Low, Ariz. August 19, 2002 November 25, 2002 10,881 8,814 1.24 N/M 7 93,866
35 First Citizens Bancorp. of South Carolina Columbia CB Financial Corp. Warrenton, Ga. July 5, 2002 October 1, 2002 7,204 7,204 1.63 27.81 2 43,628
36 First Community Financial Group Lacey, Wash. Harbor Bank Gig Harbor, Wash. August 5, 2002 October 1, 2002 6,922 6,922 2.08 N/M 2 80,392
37 State Capital Corp. Greenwood, Miss. Mississippi Southern Bank Port Gibson July 3, 2002 December 6, 2002 6,454 6,454 1.5 8.32 1 45,990
38 Ambank Holdings Inc. Rock Island, Ill. Kaneland Community Bank Elburn, Ill. August 7, 2002 December 6, 2002 6,000 6,000 1.46 N/M 1 20,013
39 Texas Regional Bancshares McAllen San Juan Bancshares Inc. Tex. July 2, 2002 November 18, 2002 4,824 5,216 1.14 17.5 2 49,551
40 Prosperity Bancshares Inc. Houston First National Bank of Bay City Tex. August 15, 2002 November 1, 2002 5,000 5,000 1.45 N/M 1 26,873
41 First Sleepy Eye Bancorp. Inc. Sioux Falls, S.D. Stearns Bank Canby Minn. July 1, 2002 October 11, 2002 4,126 4,126 1.5 N/M 1 65,263
42 Piper Bankshares Inc. Piper City, Ill. Crest Bancorp Inc. Roberts, Ill. May 22, 2002 October 7, 2002 3,843 3,843 1.34 11.14 1 28,249
43 Salin Bancshares Inc. Indianapolis Blue River Federal Savings Bank Edinburgh, Ind. July 3, 2002 November 23, 2002 3,606 3,606 1.29 18.88 1 25,556
44 Berkshire Financial Holdings Inc. Collegeville, Pa. USABancShares.com Inc. Philadelphia March 11, 2002 October 31, 2002 3,438 3,333 2.88 N/M 7 261,794
45 Bement Bancshares Inc. Ill. CGB&L Financial Group Inc. Cerro Gordo, Ill. May 6, 2002 October 17, 2002 2,100 2,100 1.46 48.84 2 9,491
46 First Community Bancshares Inc. Bluefield, Va. Monroe Financial Inc. Greenville, W.Va. May 22, 2002 November 30, 2002 2,000 2,000 1.23 N/M 4 31,887
47 Geneva State Co. Neb. Grafton State Bank Neb. May 21, 2001 October 5, 2002 1,803 1,803 1.17 26.51 1 11,132
48 First Federal Financial Bancorp Inc. Ironton, Ohio Lincoln Savings and Loan Association Ironton, Ohio April 29, 2002 October 5, 2002 477 477 1.13 N/M 1 9,102
49 Extraco Corp. Waco, Tex. Texas State Bancshares Inc. Harker Heights October 7, 2002 December 3, 2002 NA NA NA NA 1 55,288
50 Local Financial Corp. Oklahoma City Citizens Financial Corp. Midwest City, Okla. July 17, 2002 November 5, 2002 NA NA NA NA 1 33,876


* At completion

Source: Sheshunoff Information Services, a division of Thomson Corp.

© 2003 American Banker

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