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Merger activity picked up some in 2014, with most of the big deals announced during the second half. Meanwhile, more banks appear to be growing comfortable with the process of getting deals approved by regulators.

Image: Fotolia

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BUYER: CIT Group

SELLER: IMB HoldCo

DEAL VALUE: $3.4 billion

ANNOUNCED: 7/22/14

STATUS: Expected to close in the first or second quarter

Rather than avoid becoming a systemically important financial institution, CIT Group CEO John Thain decided to crash through the $50 billion-asset mark by agreeing to buy the parent of OneWest Bank. The deal also provides a tidy exit for the group that bought what was then IndyMac Bank when it failed in 2009.

Image: Bloomberg

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BUYER: BB&T

SELLER: Susquehanna Bancshares

DEAL VALUE: $2.5 billion

ANNOUNCED: 11/12/14

STATUS: Expected to close in the second quarter

BB&T CEO Kelly King surprised some observers by agreeing to buy a big community bank in Pennsylvania, a new market for the North Carolina regional. King said the deal, one of two he has on to make this list, reveals a lack of good in-market deals. "My dad used to say you have to fish on the side of the boat where the fish are," he said.

Image: Bloomberg

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BUYER: Banner Corp.

SELLER: AmericanWest Bank

DEAL VALUE: $702 million

ANNOUNCED: 11/5/14

STATUS: Expected to close in the second quarter

Banner's deal for AmericanWest puts it on track to reach $10 billion in assets, where it faces caps on interchange rates, stress testing and other regulatory requirements. Mark Grescovich, Banner's CEO, aims to find creative ways to stay below that mark until he can find another meaningful deal.

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BUYER: First Citizens BancShares

SELLER: First Citizens Bancorp.

DEAL VALUE: $676 million

ANNOUNCED: 6/10/14

STATUS: Completed on Oct. 1

First Citizens BancShares in North Carolina kept it in the family when it bought First Citizens Bancorp. in South Carolina. Both companies are majority-owned by the Holding family, including Frank Holding Jr., making this one of the year's most interesting mergers.

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BUYER: Sterling Bancorp

SELLER: Hudson Valley Holding

DEAL VALUE: $538 million

ANNOUNCED: 11/5/14

STATUS: Expected to close in the second quarter

Sterling, seems less concerned than Banner about exceeding $10 billion in assets. Jack Kopnisky, Sterling's president and CEO, expects cost savings tied to the acquisition to offset added regulatory expenses.

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BUYER: BB&T

SELLER: Bank of Kentucky Financial

DEAL VALUE: $367 million

ANNOUNCED: 9/8/14

STATUS: Expected to close in the first half of 2015

Kelly King, BB&T's CEO, said that the North Carolina company is becoming increasingly comfortable with the regulatory environment for acquisitions. While the target is in Kentucky, the real objective is to make strides in and around Cincinnati.

Image: Fotolia

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BUYER: WesBanco

SELLER: ESB Financial

DEAL VALUE: $353 million

ANNOUNCED: 10/29/14

STATUS: Expected to close in the first or second quarter

WesBanco, based in West Virginia, is relying on this deal to significantly boost its operations in Pittsburgh and western Pennsylvania. ESB is WesBanco's second acquisition in the Keystone State; it bought Fidelity Bancorp in Pittsburgh in 2012.

Image: Fotolia

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BUYER: Ford Financial Fund

SELLER: Mechanics Bank

DEAL VALUE: $338 million

ANNOUNCED: 9/25/14

STATUS: Expected to close by yearend

The private-equity firm, owned by Texas billionaire Gerald J. Ford, commenced a tender offer to buy a majority of California-based Mechanics Bank. The offer represents the first deployment of funds Ford raised in mid-2013.

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BUYER: Southside Bancshares

SELLER: OmniAmerican Bancorp

DEAL VALUE: $314 million

ANNOUNCED: 4/29/14

STATUS: Completed on Dec. 17

OmniAmerican, a former credit union, had long been rumored to be weighing its options before agreeing to sell itself to Southside. Sam Dawson, Southside's CEO, touted his company's selectiveness, while some analysts called it a game-changer for the acquirer.

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BUYER: Valley National Bancorp

SELLER: 1st United Bancorp

DEAL VALUE: $314 million

ANNOUNCED: 5/8/14

STATUS: Completed on Oct. 31

Gerald Lipkin, CEO of Valley National in New Jersey, made a long-distance play for 1st United in Boca Raton, Fla. Valley National completed the deal seven months after it was announced, overcoming objections from a community group over the Community Reinvestment Act.

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