+++
(Dollars in millions)
part 1 of 5
Buyer Seller
1 Fleet Financial Group, Boston
2 Firstar Corp., Milwaukee
3 HSBC USA, New York
4 Amsouth Bancorp, Birmingham, Ala.
5 Zions Bancorp, Salt Lake City
6 Fifth Third Bancorp, Cincinnati
7 E*Trade Group, Palo Alto, Calif.
8 Citizens Financial Group, Providence, R.I.
9 Charter One Financial, Cleveland
10 U.S. Bancorp, Minneapolis
11 Citizens Banking Corp., Flint, Mich.
12 Peoples Heritage Financial Group, Portland, Me.
13 BB&T Corp., Winston-Salem, N.C.
14 Union Planters Corp., Memphis
15 Hudson United Bancorp., Mahwah, N.J.
16 Zions Bancorp, Salt Lake City
17 Sky Financial Group, Bowling Green, Ohio
18 Summit Bancorp, Princeton, N.J.
19 U.S. Bancorp, Minneapolis
20 BB&T Corp., Winston-Salem, N.C.
21 Old Kent Financial Corp., Grand Rapids, Mich.
22 Old Kent Financial Corp., Grand Rapids, Mich.
23 Webster Financial Corp., Waterbury, Conn.
24 Fifth Third Bancorp, Cincinnati
25 BancWest Corp., Honolulu
26 Anchor BanCorp Wisconsin, Madison
27 Independence Community Bank Corp., New York
28 Southwest Securities Group, Dallas
29 BB&T Corp., Winston-Salem, N.C.
30 BB&T Corp., Winston-Salem, N.C.
31 Synovus Financial Corp., Columbus, Ga.
32 Independence Community Bank Corp., New York
33 Associated Banc-Corp., Green Bay, Wis.
34 City National Corp., Beverly Hills, Calif.
35 Compass Bancshares, BIrmingham, Ala.
36 California Financial Bancorp., Newport Beach, Calif.
37 Carolina First Corp., Greenville, S.C.
38 CVB Financial Corp., Ontario, Calif.
39 National Commerce Bancorp., Memphis
40 Community First Bankshares, Fargo, N.D.
41 First Security Corp., Salt Lake City
42 Independent Bank Corp., Ionia, Mich.
43 Zions Bancorp, Salt Lake City
44 Premier Bancshares, Atlanta
45 Hudson United Bancorp., Mahwah, N.J.
46 FirstFed Financial Corp., Santa Monica, Calif.
47 MidCity Financial Corp., Chicago
48 Hudson United Bancorp., Mahwah, N.J.
49 NBC Capital Corp., Starkville, Miss.
50 Wells Fargo & Co., San Francisco
51 Greater Bay Bancorp, Palo Alto, Calif.
52 BSB Bancorp, Binghamton, N.Y.
53 Cullen/Frost Bankers, San Antonio
54 Premier Bancshares, Atlanta
55 Central Bancompany, Jefferson City, Mo.
56 FCNB Corp., Frederick, Md.
57 Bremer Financial Corp., St. Paul
58 Mid-State Bancshares, Arroyo Grande, Calif.
59 First Financial Bancorp., Hamilton, Ohio
60 CCB Financial Corp., Durham, N.C.
61 Texas Regional Bancshares, McAllen, Tex.
62 First National Corp., Orangeburg, S.C.
63 BOK Financial Corp., Tulsa, Okla.
64 Hudson River Bancorp., Hudson, N.Y.
65 Central Bancompany, Jefferson City, Mo.
66 First Banks, St. Louis
67 Capital City Bank Group, Tallahassee, Fla.
68 Citizens Bancshares Co., Chillicothe, Mo.
69 Greater Bay Bancorp., Palo Alto, Calif.
70 Harbor Bancorp, Aberdeen, Wash.
71 Bank United Corp., Houston
72 First Busey Corp., Urbana, Ill.
73 PBOC Holdings, Los Angeles
74 State Financial Services Corp., Hales Corners, Wis.
75 BOK Financial Corp., Tulsa, Okla.
Totals and averages for the top 75 bank mergers announced in the
Totals and averages for all 167 bank mergers announced in the first
part 2 of 5
Top 75 Bank Mergers Announced in First Half
(Dollars in millions)
Value of
Buyer transaction
1 BankBoston Corp. $16,018.20
2 Mercantile Bancorp, St. Louis 10,687.30
3 Republic New York Corp. 10,300.00
4 First American Corp., Nashville 6,328.20
5 First Security Corp., Salt Lake City 5,764.90
6 CNB Bancshares, Evansville, Ind. 2,293.00
7 Telebanc Financial Corp., Arlington, 1,794.50
8 UST Corp., Boston 1,402.20
9 St. Paul Bancorp, Chicago (t) 1,207.40
10 Western Bancorp., Newport Beach, Cali 953.9
11 F & M BanCorp., Kaukauna, Wis. 819.1
12 Banknorth Group, Burlington, Vt. 778
13 First Liberty Financial Corp., Macon, 491.8
14 Republic Banking Corp. of Florida, Co 411.6
15 JeffBanks, Philadelphia 375
16 Pioneer Bancorp, Reno 346.5
17 Mahoning National Bancorp., Youngstow 306.6
18 Prime Bancorp, Fort Washington, Pa. 302.6
19 Bank of Commerce, San Diego 287
20 Mason-Dixon Bancshares, Westminster, 247.2
21 CFSB Bancorp, Lansing, Mich. (t) 244.5
22 Pinnacle Banc Group, Oak Brook, Ill. 242.7
23 New England Community Bancorp, Windso 220.8
24 Emerald Financial Corp., Strongsville 218.5
25 SierraWest Bancorp., Truckee, Calif. 199.7
26 FCB Financial Corp., Oshkosh, Wis. (t 174.4
27 Broad National Bancorp., Newark, N.J. 150.8
28 ASBI Holdings, Arlington, Tex. (t) 127.9
29 Matewan BancShares, Williams, W. Va. 124.1
30 First Citizens Corp., Newnan, Ga. (t) 123.8
31 Merit Holding Corp., Tucker, Ga. 115.8
32 Statewide Financial Corp., Jersey Cit 107.8
33 Riverside Acquisition Corp., Minneapo 89.1
34 American Pacific State Bank, Sherman 89
35 Hartland Bank, Austin, Tex. 85
36 Placer Savings Bank, Roseville, Calif 80
37 Citrus Bank, Orlando, Fla. 77.5
38 Orange National Bancorp, Orange, Cali 77.2
39 First Financial Corp., Mt. Juliet, Te 75
40 Valley National Corp., El Cajon, Cali 65
41 Comstock Bancorp, Reno 64.5
42 Mutual Savings Bank, Bay City, Mich.( 64
43 Regency Bancorp, Fresno, Calif. 58.9
44 Farmers & Merchants Bank, Summerville 55.8
45 Little Falls Bancorp, N.J. (t) 53.5
46 Professional Bancorp, Santa Monica, C 52.9
47 Damen Financial Corp., Schaumberg, Il 52.7
48 Southern Jersey Bancorp, Bridgeton, N 50.7
49 FFBS Bancorp, Columbus, Miss. (t) 47.4
50 Mustang Financial Corp., Rio Vista, T 45.3
51 Bay Area Bancshares, Redwood City, Ca 43.6
52 Skaneateles Bancorp, Schenectady, N.Y 42.5
53 Commerce Financial Corp., Fort Worth 42.3
54 North Fulton Bancshares, Roswell, Ga. 39.8
55 Mid-Continent Bancshares, Blue Spring 39.7
56 First Frederick Financial Corp., Md. 37.3
57 Dean Financial Services, St. Paul. 36.8
58 City Commerce Bank, Santa Barbara, Ca 36.6
59 Hebron Bancorp, Hebron, Ky. 35.4
60 Stone Street Bancorp, Macksville, N.C 35
61 Harlingen Bancshares, Tex. 34
62 FirstBancorp, Beaufort, S.C. 33.9
63 Swiss Avenue State Bank, Dallas 32
64 SFS Bancorp, Schenectady, N.Y. (t) 31.8
65 Fulton Bancorp, Fulton, Mo. (t) 31.7
66 Century Bank, Beverly Hills, Calif. 31.5
67 Grady Holding Co., Cairo, Ga. 31.3
68 MBLA Financial Corp., Macon, Ga. (t) 31.1
69 Bay Commercial Services, San Leandro, 31.1
70 Bank of the Pacific, Long Beach, Wash 30.2
71 Texas Central Bancshares, Dallas 28.8
72 Eagle BancGroup Bloomington, Ill. (t) 28.6
73 Bank of Hollywood, Calif. 28.6
74 First Waukegan Corp., Glenview, Ill. 27.5
75 Chaparral Bancshares, Richardson, Tex 27
Total and Ave $65,197.30
Total and Ave $65,986.30
part 3 of 5 Top 75 Bank Mergers Announced in First Half
(Dollars in millions)
Price to Price to
Price pe book latest 12 Announced
Buyer share value (x) net income date
1 $53.00 3.26 19.84 Mar. 14
2 65.99 3.37 28.49 Apr. 30
3 72 2.41 43.47 10-May
4 53.09 3.41 28.72 1-Jun
5 28.9 3.35 22.24 6-Jun
6 59.68 4.03 31.3 16-Jun
7 93.45 13.25 N/M 1-Jun
8 32 2.55 27.93 21-Jun
9 28.62 2.3 39.65 17-May
10 44.4 2.64 39.31 19-May
11 50.82 3.3 23.4 Apr. 19
12 32.85 2.35 21.5 2-Jun
13 33.46 3.69 29.05 Apr. 28
14 19.25 2.39 25.93 Feb. 22
15 33.19 2.62 22.93 29-Jun
16 35.7 5.05 25.64 7-May
17 48.66 3.16 21.38 7-Jun
18 26.58 3.25 24.04 Feb. 18
19 19.13 4.56 21.01 Feb. 18
20 48.34 2.99 22.75 Jan. 28
21 28.27 3.37 19.69 Feb. 24
22 32.27 2.06 16.46 Mar. 19
23 30.08 2.93 29.94 30-Jun
24 19.82 3.72 26.31 Mar. 1
25 36.08 2.46 25.06 Feb. 25
26 44.15 2.2 24.69 Jan. 5
27 26.5 3.21 17.85 Feb. 1
28 NA 5.63 12.27 6-Jun
29 26.13 1.86 20.27 Feb. 25
30 40.53 2.84 21.52 Jan. 27
31 24.15 3.02 22.77 Mar. 19
32 25.31 1.74 28.49 Apr. 13
33 3564 3.67 19.66 Mar. 10
34 15.65 2.88 21.01 4-Jun
35 NA 3.8 19.94 17-Jun
36 22.05 2.3 21.14 Mar. 18
37 37.07 4.25 29.51 Mar. 18
38 36.66 3.04 21.43 18-May
39 71.26 3.6 23.85 3-May
40 42.28 2.82 21.58 10-May
41 12.75 2.65 12.82 Jan. 13
42 14.6 1.73 23.57 Mar. 24
43 22.43 2.55 13.8 Apr. 27
44 77.53 2.55 21.47 Apr. 20
45 20.64 1.37 29.25 Jan. 26
46 23.5 1.84 32.37 28-Jun
47 18.35 1.2 26.46 Feb. 23
48 44.02 1.6 N/M 29-Jun
49 29.27 1.96 30.56 Feb. 5
50 400 1.68 19.36 Apr. 1
51 41.78 2.92 17.74 Jan. 26
52 27.89 2.12 24.54 Jan. 25
53 229.51 2.81 23.23 Feb. 17
54 17.5 3.33 22.59 Apr. 6
55 357.49 2.26 15.16 Apr. 8
56 20.74 3.87 22.54 Mar. 12
57 3923.77 1.74 16.8 Jan. 26
58 21.52 2.03 17.84 Apr. 19
59 589.68 3.01 23.45 Jan. 4
60 21.37 1.25 22.27 Apr. 14
61 NA 1.63 41.46 Apr. 22
62 34.83 2.41 37.43 Mar. 4
63 149.09 2.28 N/M Mar. 8
64 25.1 1.27 NA 17-May
65 19.15 1.25 29.63 19-May
66 NA 1.29 19.37 Mar. 31
67 513.31 1.88 14.65 Feb. 12
68 24.15 1.04 16.59 3-May
69 21.49 2.38 22.82 3-May
70 NA 3.11 15.75 9-Jun
71 82.33 4.16 20.57 Mar. 23
72 25.74 1.41 30.36 30-Jun
73 19 2.02 17.01 23-Jun
74 40.19 2.28 23.9 Mar. 12
75 14.33 2.29 25.69 Mar. 1
To 2.81 23.85
To 2.35 23.16
part 4 of 5
Top 75 Bank Mergers Announced in First Half
(Dollars in millions)
Accounting Buyer's Seller's Target's
Buyer type assets assets headcount
1 Pooling $104,382.00$73,513.00 24,500
2 Pooling 37,951.90 35,578.80 10,441
3 Purchase 33,773.30 50,453.00 5,900
4 Pooling 20,083.80 20,326.50 7,219
5 Pooling 17,085.00 21,959.20 10,030
6 Pooling 29,652.20 7,218.80 2,801
7 Pooling NA 2,620.80 121
8 Purchase 18,430.30 5,929.80 880
9 Pooling 24,554.80 5,980.50 1,060
10 Purchase 76,110.00 2,496.20 964
11 Pooling 4,498.70 2,445.70 N/A
12 Pooling 12,594.30 4,338.50 1,014
13 Pooling 37,791.50 1,599.80 416
14 Purchase 31,692.00 1,575.40 690
15 Pooling 7,046.10 1,684.50 364
16 Pooling 17,085.00 1,031.30 259
17 Pooling 4,683.00 808.7 388
18 Purchase 33,101.30 1,039.30 322
19 Purchase 76,438.00 638.2 202
20 Pooling 34,427.20 1,102.20 298
21 Pooling 16,588.90 880.3 275
22 Pooling 16,588.90 1,146.10 385
23 Pooling 8,848.70 786.9 185
24 Pooling 28,921.80 668.5 131
25 Pooling 15,049.90 879.2 234
26 Pooling 2,123.50 526 145
27 Purchase 5,313.40 684.8 240
28 Unknown NA 270.1 93
29 Purchase 34,427.20 683.6 274
30 Pooling 34,427.20 420.2 141
31 Pooling 10,498.00 306.4 99
32 Purchase 5,537.00 744.2 148
33 Purchase 11,250.70 339 127
34 Purchase 6,284.30 399.2 157
35 Purchase 17,292.70 300.6 102
36 Purchase 52.7 570 264
37 Pooling 2,725.90 227.9 108
38 Pooling 1,557.90 279.1 126
39 Pooling 6,028.70 269.2 109
40 Pooling 5,916.80 240.8 110
41 Purchase 21,768.20 225.1 120
42 Pooling 1,085.30 564.4 240
43 Pooling 17,085.00 228.1 NA
44 Pooling 1,510.90 166 72
45 Purchase 6,778.70 350.6 36
46 Purchase 3,964.90 249.2 112
47 Purchase 1,644.90 220.2 36
48 Pooling 7,046.10 465.4 211
49 Pooling 777 160.1 28
50 Purchase 201,430.00 239.7 203
51 Pooling 1,582.90 155.3 33
52 Pooling 1,859.10 276.1 86
53 Purchase 6,869.60 189.2 57
54 Pooling 1,510.90 174.3 50
55 Purchase 4,543.30 202.2 92
56 Pooling 1,337.20 121.6 45
57 Purchase 3,398.10 315.1 127
58 Pooling 1,221.90 154.3 73
59 Pooling 2,871.10 111.7 33
60 Purchase 7,771.60 128.1 20
61 Purchase 1,822.50 225.3 179
62 Pooling 642.7 108 54
63 Purchase 6,809.30 223.6 71
64 Purchase 826.8 176.1 57
65 Purchase 4,543.30 117.8 33
66 Purchase 4,554.80 159.9 162
67 Pooling 1,329.40 114.6 42
68 Purchase 741.1 206.2 11
69 Pooling 1,781.30 145.9 38
70 Pooling 135.3 101.1 36
71 Pooling 14,823.60 116 41
72 Purchase 958.4 182.9 42
73 Purchase 3,334.70 136.2 48
74 Purchase 828.4 212.9 91
75 Purchase 6,809.30 96.5 NA
Total $1,196,811.80 $259,982.30 73,901
Total $1,753,971.10 $267,591.70 77,276
part 5 of 5
Top 75 Bank Mergers Announced in First Half
(Dollars in millions)
Seller's Deposit Price
latest 12 mpremium %premium %
Buyer efficiency of sellerof seller
1 64.41 22.42 31.06
2 57.91 29.55 33.47
3 64.52 13.47 31.96
4 59.29 30.34 28.31
5 62.69 30.94 51.6
6 67 31.93 37.19
7 87.57 105.52 11.58
8 71.46 19.74 32.98
9 61.35 16.96 18.02
10 60.66 27.77 24.85
11 55.23 28.75 52.27
12 62.45 12.25 22.21
13 60.36 29.03 57.46
14 62.58 18.53 37.5
15 68.02 17.35 27.04
16 62.04 30.37 32.84
17 47.26 38.46 62.2
18 55.39 28.76 57.51
19 57.53 37.97 10.9
20 76.22 25.54 77.39
21 47.34 27.81 40.16
22 77.91 14.01 17.35
23 61.29 21.95 51.35
24 46.25 26.68 65.17
25 70.76 14.56 45.78
26 45.95 28.15 60.54
27 61.81 15.09 31.64
28 40.28 NA NA
29 60.97 7.74 -6.68
30 64.82 20.24 50.11
31 50.63 29.67 34.17
32 74.01 9.82 28.97
33 55.99 21.37 NA
34 71.52 NA 22.75
35 55.87 NA NA
36 72.67 NA NA
37 57.96 NA NA
38 67.49 19.43 38.33
39 62.17 19.79 NA
40 70.94 20.99 15.84
41 66.06 20.52 33.37
42 81.23 6.3 43.7
43 55.81 18.19 31.94
44 49.63 NA NA
45 67.45 5.62 3.2
46 80.25 9.84 30.56
47 71.22 18.17 32.85
48 89.99 4.13 85.35
49 55.34 17.93 17.08
50 73.16 8.7 NA
51 60.03 20.22 34.77
52 75.16 9.01 80.63
53 69.92 14.73 NA
54 71.47 15.63 NA
55 56.08 11.59 NA
56 61.34 NA 38.27
57 76.93 5.62 NA
58 62.97 NA 26.59
59 53.25 NA NA
60 48.05 9.56 56.79
61 89.16 NA NA
62 73.02 NA NA
63 75.85 NA NA
64 NA 4.37 32.11
65 62.34 8.67 23.55
66 80.96 NA NA
67 46.57 NA NA
68 34.13 1.08 30.54
69 73.4 11.39 30.24
70 51.03 NA NA
71 71.64 NA NA
72 64.42 5.79 24.8
73 66.03 NA NA
74 77.07 7.55 NA
75 71.79 NA NA
Total 64.10 19.78 36.35
Total 76.94 18.89 36.25
Source: Sheshunoff Information Services, a Thomson Financial
Deposit premium of seller = deal price per share less book value
Price premium of seller = deal price per share increase over the