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The end of the year is a busy time for closing bank acquisitions at least buyers are hoping that is the case. With the average deal taking about 120 days to complete, there are plenty of banks anxiously awaiting a call from regulators.
December 5 -
M&T Bancorp in Buffalo, N.Y., has once again delayed its planned purchase of Hudson City Bancorp in Paramus, N.J.
December 9 -
Iberiabank Corp. in Lafayette, La., will enter the Atlanta market, agreeing to buy Georgia Commerce Bancshares.
December 8
Anchor Bancorp in St. Paul, Minn.,
The $1.4 billion-asset Anchor said in a press release Tuesday that the deal will strengthen its presence on in the Twin Cities' southwestern suburbs, where the $340 million-asset VFSC has four branches. The price was not disclosed.
VFSC is the parent company of Voyager Bank.
"In the coming months we'll be working together with Voyager to prepare a successful closing and integration with Anchor," Carl Jones, Anchor's chief executive, said in the release. "We believe it's a great strategic opportunity to provide both Anchor and Voyager customers enhanced customer service offerings."
The deal is expected to close in the second quarter, and a full conversion should take place in June.
Anchor Bank was advised by River Branch Capital and Barack Ferrazzano Kirschbaum & Nagelberg. Voyager was advised by Oak Ridge Financial Services Group and Siegel Brill.
