Last Week’s Mergers and Acquisitions
Announced for week ending Sept. 15, 2000
Whole Institution Transactions
Buyer Seller Announced Purchase price Price to equity Price to net income*
Chase Manhattan J.P. Morgan Sept. 13 $34.4B 2.70 14.98
Community Bank System N.Y. Citizens National Bank N.Y Sept. 13 $22M 1.82 17.34
Bank of Montreal Century Bank Ariz. Sept. 14 $16M 2.68 NM
 
Branch Transactions
Buyer Seller Announcement date Premium Deposits sold
First Citizens BancShares N.C. First Union N.C. Sept. 12 NA $195M
First Bancorp N.C. First Union N.C. Sept. 13 NA $105M
Glacier Bancorp Mont. Wells Fargo Sept. 14 NA $183.9M
BancWest Corp. Hawaii Wells Fargo Sept. 14 $122M $1.17B
Colonial BancGroup Ala. Wells Fargo Sept. 14 NA $106M
 
Other Asset Sales
Buyer Seller Announcement date Price Type of  assets sold
Summit Bancorp N.J. Howard Lawson & Co. Pa. Sept. 11 NA Investment banking firm
Wells Fargo General Electric Capital Corp. Sept. 12 NA Mortgage sub-servicing portfolio
Citigroup Geneva Group Calif. Sept. 13 NA Mergers and acquisitions advisory firm
GMAC Mortgage Corp. Pa. First Citizens BancShares N.C. Sept. 14 NA Mortgage servicing
Chase Manhattan BT Funds Management Sept. 14 NA Master custody operations
*Last twelve months
Source: Sheshunoff Information Services

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