Whole Bank and Thrift Deals Completed in the Third Quarter
Published January 17, 2002, 10:08 a.m. EST
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Updated January 02, 1970, 9:08 a.m. EST
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Whole Bank and Thrift Deals Completed in the Third Quarter
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| Published January 17, 2002 | |
Rank | Buyer | Target | Date | Date Completed | Price Announced | Price Completed | Price at completion to book value | Price at completion to 12-month net | Target's Branches | Target's Assets |
| 1 | BNP Paribas Paris | BancWest Corp. Honolulu | 6-May | Dec. 19 | $2,443,867 | $2,451,132 | 2.04 | 17.68 | 229 | $19,419,452 |
| 2 | Banknorth Group Inc. Portland, Maine | Andover Bancorp Inc. Andover, Mass. | 11-Jun | Oct. 31 | 339,388 | 355,740 | 2.07 | 16.06 | 19 | 1,799,001 |
| 3 | MB Financial Inc.* Chicago | MidCity Financial Corp. Chicago | 20-Apr | Nov. 6 | 174,820 | 274,986 | 1.39 | NA | 26 | 1,834,009 |
| 4 | North Fork Bancorp. Melville, N.Y | Commercial Bank of New York New York | 13-Feb | Nov. 9 | 175,191 | 175,191 | 1.63 | 24.48 | 15 | 1,526,079 |
| 5 | Banknorth Group Inc. Portland, Maine | MetroWest Bank Framingham, Mass. | 11-Jun | Oct. 31 | 166,274 | 166,274 | 2.58 | 15.35 | 19 | 914,420 |
| 6 | Greater Bay Bancorp Palo Alto, Calif. | SJNB Financial Corp. San Jose, Calif. | 26-Jun | Oct. 23 | 174,460 | 163,621 | 2.16 | 13.2 | 7 | 648,149 |
| 7 | FBOP Corp . Oak Park, Ill. | Bank Plus Corp. Los Angeles | 4-Jun | Dec. 31 | 146,366 | 146,866 | 1.94 | 45.69 | 30 | 2,192,604 |
| 8 | BB&T Corp. Winston-Salem, N.C. | Community First Banking Co. Carrollton, Ga. | 10-Jul | Dec. 12 | 128,000 | 125,406 | 2.62 | 24.01 | 12 | 540,006 |
| 9 | National Commerce Financial Corp. Memphis | SouthBanc Shares Inc. Anderson, S.C. | 16-Jul | Nov. 16 | 124,835 | 120,457 | 1.45 | 87.39 | 11 | 659,931 |
| 10 | Boston Private Financial Holdings Boston | Borel Bank and Trust Co. San Mateo, Calif. | 27-Jun | Nov. 30 | 113,976 | 117,007 | 3.55 | 17.75 | 2 | 358,758 |
| 11 | NBT Bancorp Inc. Norwich, N.Y. | CNB Financial Corp. Canajoharie, N.Y. | 19-Jun | Nov. 8 | 137,911 | 116,706 | 1.76 | 17.2 | 29 | 964,364 |
| 12 | SouthTrust Corp. Birmingham, Ala. | Community Bankshares Inc. Richmond, Va. | 29-Jun | Nov. 30 | 117,844 | 111,440 | 2.48 | 19.2 | 13 | 406,639 |
| 13 | International Bancshares Corp. Laredo, Tex. | National Bancshares Corp. of Texas San Antonio | 31-Jul | Dec. 31 | 97,554 | 97,810 | 1.31 | 17.04 | 16 | 595,307 |
| 14 | Synovus Financial Corp. Columbus, Ga. | FABP Bancshares Inc. Pensacola, Fla. | 29-Jun | Dec. 13 | 100,000 | 90,315 | 3.21 | 18.62 | 7 | 301,355 |
| 15 | United Bankshares Inc. Charleston, W.Va. | Century Bancshares Inc. Washington | 14-Jun | Dec. 7 | 66,620 | 74,950 | 2.87 | NA | 11 | 415,483 |
| 16 | MAF Bancorp Clarendon Hills, Ill. | Mid Town Bancorp Inc . Chicago | 2-Jul | Nov. 30 | 69,000 | 69,568 | 2.21 | 14.66 | 5 | 330,796 |
| 17 | BankFinancial Corp. Olympia Fields, Ill. | Success Bancshares Inc. Lincolnshire, Ill. | 21-May | Nov. 17 | 65,613 | 65,951 | 1.49 | 25.96 | 7 | 592,123 |
| 18 | SouthTrust Corp. Birmingham, Ala. | Bank of Tidewater Virginia Beach, Va. | 31-Aug. | Nov. 20 | 68,604 | 63,565 | 2.95 | 18.86 | 10 | 295,451 |
| 19 | Umpqua Holdings Corp. Portland, Ore. | Independent Financial Network Inc. Coos Bay, Ore. | 22-Jun | Dec. 30 | 55,069 | 60,592 | 1.66 | 24.55 | 16 | 389,566 |
| 20 | Colonial BancGroup Inc. Montgomery, Ala. | Manufacturers Bancshares Inc. Tampa, Fla. | 18-Jun | Oct. 25 | 54,482 | 57,865 | 2.92 | 20.75 | 5 | 290,633 |
| 21 | First Banks America Inc. Clayton, Mo. | BYL Bancorp Orange, Calif. | 22-Jun | Oct. 31 | 48,962 | 48,962 | 1.56 | 27.11 | 9 | 278,731 |
| 22 | Regions Financial Corp. Birmingham, Ala. | Park Meridian Financial Corp. Charlotte, N.C. | 27-Jun | Nov. 13 | 49,030 | 47,500 | 1.91 | 17.01 | 3 | 283,833 |
| 23 | Anchor BanCorp Wisconsin Inc. Madison | Ledger Capital Corp. Glendale, Wis. | 15-Jun | Nov. 9 | 42,679 | 45,800 | 1.17 | 18.57 | 6 | 507,113 |
| 24 | Zions Bancorp . Salt Lake City | Minnequa Bancorp Inc. Pueblo, Colo. | 10-Jul | Nov. 9 | 43,574 | 44,391 | 1.9 | 17.99 | 6 | 319,920 |
| 25 | Gaston Federal Bancorp Inc. Gastonia, N.C. | Innes Street Financial Corp Salisbury, N.C. | 16-Jul | Dec. 31 | 37,935 | 37,935 | 1.36 | 31.14 | 1 | 215,223 |
| 26 | Whitney Holding Corp. New Orleans | Redstone Financial Inc. Houston | 25-Jun | Oct. 26 | 37,293 | 37,293 | 2.52 | NA | 6 | 192,904 |
| 27 | Sterling Bancshares Inc. Houston | Community Bancshares Inc. Katy, Tex. | Oct. 2 | Dec. 17 | 34,000 | 34,000 | 4.76 | 11.76 | 2 | 113,962 |
| 28 | National Mercantile Bancorp Los Angeles | South Bay Bank Torrance, Calif. | 20-Jul | Dec. 14 | 29,113 | 29,663 | 1.46 | 11.6 | 2 | 192,618 |
| 29 | Regions Financial Corp. Birmingham, Ala. | First Bancshares of Texas Tomball | Aug. 13 | Nov. 30 | 32,755 | 29,449 | 2.25 | 23.58 | 7 | 169,253 |
| 30 | Camco Financial Corp. Cambridge, Ohio | Columbia Financial of Kentucky Inc. Fort Mitchell, Ky. | 5-Jun | Nov. 15 | 30,171 | 28,979 | 1 | 51.81 | 7 | 108,354 |
| 31 | Laredo National Bancshares Laredo, Tex. | Del Rio National Bancshares Del Rio, Tex. | 3-Jul | Nov. 30 | 28,000 | 28,000 | 2.44 | 14.92 | 5 | 141,758 |
| 32 | Trustmark Corp. Jackson, Miss. | Nashoba Bancshares Inc. Memphis | Sep. 7 | Dec. 14 | 27,550 | 27,550 | 2.18 | 12.89 | 3 | 177,226 |
| 33 | Second Bancorp Inc. Warren, Ohio | Commerce Exchange Corp. Beachwood, Ohio | 23-Jul | Oct. 25 | 26,500 | 26,932 | 2.14 | 14.9 | 3 | 119,225 |
| 34 | First Federal Capital Corp. La Crosse, Wis. | American Community Bankshares Wausau, Wis. | 23-May | Oct. 31 | 27,423 | 26,925 | 1.97 | 16.11 | 3 | 143,306 |
| 35 | First Banks Inc. St. Louis | Union Financial Group Ltd. Swansea, Ill. | 20-Jul | Dec. 31 | 26,800 | 26,800 | 1.44 | 14.89 | 9 | 361,242 |
| 36 | Business Bancorp* San Bernardino, Calif. | MCB Financial Corp. San Rafael, Calif. | Aug. 15 | Dec. 31 | 29,789 | 24,448 | 1.54 | 7.06 | 6 | 226,280 |
| 37 | Umpqua Holdings Corp. Portland, Ore. | Linn-Benton Bank Albany, Ore. | Aug. 21 | Dec. 27 | 20,026 | 20,197 | 1.97 | 13.38 | 5 | 113,630 |
| 38 | First Banks America Inc. Clayton, Mo. | Charter Pacific Bank Agoura Hills, Calif. | 23-May | Oct. 16 | 19,427 | 19,427 | 1.42 | 76.02 | 3 | 102,902 |
| 39 | Union Community Bancorp Crawfordsville, Ind. | Montgomery Financial Corp. Crawfordsville, Ind. | 24-Jul | Dec. 28 | 18,508 | 18,843 | 1.1 | 59.65 | 5 | 136,855 |
| 40 | Alabama National BanCorp. Birmingham, Ala. | Farmers National Bancshares Opelika, Ala. | Sep. 6 | Dec. 14 | 17,391 | 18,695 | 1.06 | NA | 53 | 2,593,867 |
| 41 | Sunflower Banks Inc. Salina, Kan. | First Canon Bancorp Inc. Canon City, Colo. | Aug. 9 | Nov. 7 | 16,500 | 16,500 | 1.79 | 9.62 | 4 | 101,108 |
| 42 | Landmark Bancshares Inc.* Dodge City, Kan. | MNB Bancshares Inc. Manhattan, Kan. | 19-Apr | Oct. 9 | 14,751 | 15,968 | 1 | 12.58 | 8 | 155,480 |
| 43 | First Community Bancorp Rancho Santa Fe, Calif. | First Charter Bank N.A. Beverly Hills | May. 22 | Oct. 8 | 13,561 | 15,265 | 1.6 | NA | 3 | 135,254 |
| 44 | United Community Banks Inc. Blairsville, Ga. | Peoples Bancorp Inc. Carrollton, Ga. | 6-Jul | Nov. 14 | 14,303 | 14,303 | 1.67 | 32.81 | 4 | 74,815 |
| 45 | Catawba Valley Bancshares* Hickory, N.C. | First Gaston Bank of North Carolina Gastonia | 31-May | Dec. 31 | 16,352 | 13,590 | 1.1 | 12.31 | 3 | 119,916 |
| 46 | Montecito Bancorp Santa Barbara, Calif. | Valley Oaks National Bank Solvang, Calif. | 18-May | Oct. 1 | 13,032 | 13,032 | 2.57 | 16.62 | 2 | 64,975 |
| 47 | FirstFed Financial Corp. Santa Monica, Calif. | Del Amo Savings Bank Torrance, Calif. | Aug. 16 | Nov. 30 | 12,498 | 12,498 | 1.3 | NA | 3 | 127,741 |
| 48 | NB&T Financial Group Inc. Wilmington, Ohio | Sabina Bank Sabina, Ohio | 9-Jul | Dec. 10 | 11,500 | 11,500 | 1.54 | 27.45 | 3 | 52,110 |
| 49 | FirstFed Financial Corp. Santa Monica, Calif. | Frontier State Bank Redondo Beach, Calif. | Aug. 16 | Nov. 30 | 10,134 | 10,134 | 1.3 | NA | 2 | 72,600 |
| 50 | Bank of Davie Mocksville, N.C. | BOC Financial Corp. Landis, N.C. | 20-Jul | Dec. 31 | 10,131 | 9,788 | 1.13 | NA | 2 | 41,133 |
| 51 | Commercial Bancgroup Inc. Harrogate, Tenn. | Cumberland Mountain Bancshares Middlesboro, Ky. | Feb. 9 | Nov. 1 | 9,520 | 9,520 | 1.12 | NA | 4 | 127,084 |
| 52 | First National Bancshares Edmond, Okla | Rockwell Bancorp Inc. Oklahoma City | Feb. 7 | Oct. 19 | 6,434 | 6,434 | 1.21 | 11.76 | 4 | 44,605 |
| 53 | ESB Financial Corp. Ellwood City, Pa. | WSB Holding Co. Pittsburgh | 16-May | Oct. 1 | 5,205 | 5,019 | 1 | 22.43 | 2 | 43,209 |
| 54 | First Pulaski National Corp. Pulaski, Tenn. | Belfast Holding Co. Belfast, Tenn. | 30-Jun | Oct. 17 | 4,470 | 4,470 | 1.89 | 24.7 | 3 | 21,822 |
| 55 | The Smith Investor Group NA, Tex. | First Bank and Trust Co. Bartlett, Tex. | 1-Jun | Oct. 11 | 4,000 | 4,000 | 1.16 | 7.97 | 1 | 26,864 |
| 56 | Guaranty Capital Corp. Mamou, La. | Federal Savings Bank Ville Platte, La. | 25-May | Oct. 26 | 3,500 | 3,500 | 2.03 | NA | 1 | 25,777 |
| 57 | F.N.B.C. of La Grange Inc. La Grange, Ill. | Foxdale Bancorp Inc. S. Elgin, Ill. | Oct. 26 | Dec. 17 | 2,500 | 2,500 | 1.09 | NA | 2 | 44,932 |
| 58 | Native American Bancorp Denver | Blackfeet National Bank Browning, Mont. | Jan. 10 | Oct. 30 | 1,634 | 1,634 | 1.15 | 12.29 | 1 | 18,706 |
| Deals not ranked; price undisclosed | ||||||||||
| Citizens State Bancorp. Grafton, N.D. | Walhalla Bank Holding Co . Walhalla, N.D. | 30-May | Nov. 2 | NA | NA | NA | NA | 4 | 105,781 | |
| Metrocorp Inc. East Moline, Ill. | Chadwick Bancshares Inc. Chadwick, Ill. | 31-Jul | Nov. 1 | NA | NA | NA | NA | 7 | 164,744 | |
| Third Federal Savings and Loan Cleveland | Ohio Central Savings Dublin, Ohio | Feb. 16 | Oct. 16 | NA | NA | NA | NA | 2 | 43,507 | |
* Merger of equals transaction
©2002 American Banker
Source: Thomson Financial /Sheshunoff Information Services (www.sheshunoff.com)