Slideshow Eight Hungry Bank Buyers

Published
  • July 18 2013, 12:51pm EDT
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These banks have money to spend, strong stocks and a stated goal of expansion through M&A. Look for them to buy a bank this year or early next year. After all, dealmaking takes time.

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Ready, Aim ... Holding Fire on M&A

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CVB Financial (CVBF)

HQ: Ontario, Calif.
Assets: $6.2B
Tangible common equity: 11.4%
Tangible book value: $6.77/share
Closing Price on July 17: $12.68/share

CVB's last deal was for a failed bank in 2009, but CEO Chris Myers told investors in May that it is holding on to excess capital for use in an acquisition. "It's come a little slower than we would like," he said.

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First California Relents, Agrees to Sell to PacWest

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First Community Bancshares (FCBC)

HQ: Greensboro, Va.
Assets: $2.7B
Tangible common equity: 9.59%
Tangible book value: $10.90/share
Closing Price on July 17: $16.75/share

Consolidation in Virginia is heating up, and First Community is widely viewed as a player. CEO John Mendez is meeting with executives at small banks in North Carolina and Virginia, KBW analysts say.

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More Bank M&A on the Way in Virginia


F.N.B. Corp (FNB)

HQ: Hermitage, Pa.
Assets: $12.4B
Tangible common equity: 6.22%
Tangible book value: $5/share
Closing Price on July 17: $12.79/share

F.N.B., led by Vincent Delie Jr., has announced three small acquisitions in the last nine months and is expected to woo more sellers with its rich stock.

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Heartland Financial USA (HTLF)

HQ: Dubuque, Iowa.
Assets: $5B
Tangible common equity: 5.8%
Tangible book value: $16.52/share
Closing Price on July 17: $29.39/share

Heartland announced a deal in June in the Kansas City market, and CEO Lynn Fuller is aiming for three deals a year until prices get too high. He has 25 to 30 banks on his watchlist.

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IberiaBank Corp. (IBKC)

HQ: Lafayette, La.
Assets: $13B
Tangible Common Equity: 8.75%
Tangible Book Value: $36.93/share
Closing Price on July 17: $56.64/share

The serial acquirer led by Daryl Byrd has been on the sidelines for a year since its acquisition of Florida Gulf Bancorp. Expect it to buy a bank, mostly likely in Tennessee or North Carolina, within the next year, KBW analysts say.

Related Article: How Bank M&A is Reshaping the South

(Image: Michael Chu)


Independent Bank Group (IBTX)

HQ: McKinney, Texas
Assets: $1.8B
Tangible common equity: 10.4%
Tangible book value: $11.16/share
Closing Price on July 17: $31.57/share

The suburban Dallas bank was already the second busiest acquirer in the Lone Star State before raising $87 million in an initial public offering in April. CEO David Brooks is on the prowl for smaller banks that bigger buyers like Prosperity Bancshares would pass up.

Related Article: Fresh Off IPO, Independent in Texas Hunts for Deals


Old National Bancorp (ONB)

HQ: Evansville, Ind.
Assets: $9.6B
Tangible common equity: 8.96%
Tangible book value: $8.23/share
Closing Price on July 17: $14.31/share

Old National early this year agreed to buy 24 branches in southwest Michigan from Bank of America (BAC), but analysts predict it could cap 2013 with a whole-bank acquisition in Indiana or Michigan.

Related Article: Old National to Buy 24 B of A Branches in Indiana, Michigan

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Wintrust Financial (WTFC)

HQ: Rosemont, Ill.
Assets: $17.6B
Tangible Common Equity: 7.4%
Tangible Book Value: $29.25/share
Closing Price on July 17: $41.03

Chicago's busiest buyer last announced a deal in January, but CEO Ed Wehmer says his team is "very busy right now in this area." The holdup for has been that there is still a lot of stress at many of the targets, he says.

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