+++

Top 25 bank and thrift mergers completed in first half of 1998

(Dollars in millions)

part 1 of 5

Buyer

1 First Union Corp., Charlotte, N.C.

2 NationsBank Corp., Charlotte, N.C.

3 National City Corp., Cleveland

4 Banc One Corp., Columbus, Ohio

5 First American Corp., Nashville

6 Union Planters Corp., Memphis

7 National City Corp., Cleveland

8 North Fork Bancorp, Mattituck, N.Y.

9 M&T Bank Corp., Buffalo

10 H.F. Ahmanson & Co., Irwindale, Calif.

11 Fifth Third Bancorp, Cincinnati

12 Fifth Third Bancorp, Cincinnati

13 Peoples Heritage Financial Group

14 Star Banc Corp., Cincinnati

15 CNB Bancshares, Evansville, Ind.

16 First Midwest Bancorp, Itasca, Ill.

17 Sovereign Bancorp, Wyomissing, Pa.

18 Webster Financial Corp., Waterbury, Conn.

19 Bay View Capital Corp., San Mateo, Calif.

20 BB&T Corp., Winston-Salem, N.C.

21 Mercantile Bancorp, St. Louis

22 Golden State Bancorp Inc., Glendale, Calif.

23 First Security Corp., Salt Lake City

24 United Bankshares, Fairfax, Va.

25 Marshall & Ilsley Corp., Milwaukee

part 2 of 5

Target

1 CoreStates Financial Corp., Philadelphia

2 Barnett Banks, Jacksonville, Fla.

3 First of America Bank Corp., Kalamazoo, Mich.

4 First Commerce Corp., New Orleans

5 Deposit Guaranty Corp., Jackson, Miss.

6 Magna Group Inc., St. Louis

7 Fort Wayne National Corp., Ind.

8 New York Bancorp, Douglaston

9 OnBancorp Inc., Syracuse

10 Coast Savings Financial, Los Angeles

11 State Savings Company, Columbus, Ohio

12 CitFed Bancorp, Dayton, Ohio

13 CFX Corp., Keene, N.H.

14 Great Financial Corp., Louisville, Ky.

15 Pinnacle Financial Services, St. Joseph, Mich.

16 Heritage Finl. Services Inc., Tinley Park, Ill.

17 ML Bancorp, Villanova, Pa.

18 Eagle Financial Corp., Bristol, Conn.

19 America First Eureka Holdings, San Francisco

20 Life Bancorp, Norfolk, Va.

21 CBT Corp., Paducah, Ky.

22 Cenfed Financial Corp., Pasadena

23 California State Bank, West Covina

24 George Mason Bankshares, Fairfax, Va.

25 Advantage Bancorp, Kenosha, Wis.

part 3 of 5

Buyer

adviser's

Buyer's primary adviser fee

1 Morgan Stanley Dean Witter & Co. $17.00

2 Goldman, Sachs & Co. 18

Merrill Lynch & Co. 18

In house N/M

3 NationsBanc Montgomery Securities Inc 10

UBS Securities 10

4 In house N/M

5 Morgan Stanley Dean Witter & Co 10.3

6 Stifel, Nicolaus & Co. 2.2

7 NationsBanc Montgomery Securities Inc N/A

UBS Securities N/A

8 Goldman, Sachs & Co. 2

9 Keefe, Bruyette & Woods Inc. 0.5

Price Waterhouse N/A

10 Merrill Lynch & Co. N/A

11 Salomon Smith Barney Inc. N/A

12 N/A N/M

13 McConnell, Budd & Downes 0.2

14 Credit Suisse First Boston Corp. N/A

15 Oppenheimer & Co. Inc. 0.3

16 Goldman, Sachs & Co. 1.5

17 Merrill Lynch & Co. 0.3

18 Merrill Lynch & Co. 1.3

19 Hovde Financial Inc. 3

20 N/A N/A

21 In house N/M

22 Credit Suisse First Boston Corp. N/A

23 JP Morgan Securities N/A

24 N/A N/A

25 N/A N/A

part 4 of 5

Adviser'

as a % o

final

deal val Target's primary adviser

1 0.08% J.P. Morgan Securities

Credit Suisse First Boston Corp.

2 0.12% Morgan Stanley Dean Witter & Co

0.12% J.P. Morgan Securities

3 0.07% Merrill Lynch & Co.

0.07%

4 Keefe, Bruyette & Woods

5 0.43% Credit Suisse First Boston Corp.

6 0.10% Donaldson, Lufkin & Jenrette Securities

7 Keefe, Bruyette & Woods

8 0.19% Sandler O'Neill & Partners LP

Keefe, Bruyette & Woods

9 0.05% Sandler O'Neill & Partners LP

10 Goldman, Sachs & Co.

11 Keefe, Bruyette & Woods

12 Keefe, Bruyette & Woods

13 0.02% Keefe, Bruyette & Woods

14 Sandler O'Neill & Partners LP

15 0.04% Friedman, Billings, Ramsey & Co.

Donaldson, Lufkin & Jenrette Securities

PL Capital

16 0.35% McDonald & Co.

17 0.06% Sandler O'Neill & Partners LP

18 0.31% Sandler O'Neill & Partners LP

19 0.77% Merrill Lynch & Co.

20 Sandler O'Neill & Partners LP

21 Morgan Stanley Dean Witter & Co.

22 Merrill Lynch & Co.

23 Keefe, Bruyette & Woods

24 Friedman, Billings, Ramsey & Co.

25 Hovde Financial

part 5 of 5

Target Adviser's fee

adviser'as a % of

fee deal value

1 $17.60 0.09%

16.6

2 31 0.21%

9 0.06%

3 27.6 0.35%

4 9.7 0.28%

5 10.6 0.44%

6 11.8 0.56%

7 3.3 0.31%

8 4.8 0.46%

0.7 0.07%

9 5.8 0.58%

10 6.2 0.65%

11 N/A

12 2.1 0.26%

13 5.9 0.70%

14 3.4 0.48%

15 1.2 0.18%

3.6 0.52%

0.7 0.10%

16 2.2 0.51%

17 2 0.49%

18 1.6 0.40%

19 1.9 0.48%

20 2.7 0.73%

21 2.6 0.97%

22 2.2 0.71%

23 N/A

24 0.3 0.12%

25 1.9 0.80% ===

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.