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Management Strategies

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12 Bank Acquisition Deals So Far in June

According to SNL Financial, there have been 99 M&A deals in the banking industry in 2012 so far.

Twelve bank M&A deals have been announced since June 1, bringing the total number of deals in 2012 to 99, with an aggregate value of $4.5 billion, according to new research from Charlottesville, Va.-based SNL Financial.

Recent deals include Wichita, Kan.-based Colwich Financial Corp. unit Legacy Bank buying Sedgwick, Kan.-based Alliant Bank ($15.3 million); Short Hills, N.J.-based Investors Bancorp acquiring Astoria, N.Y.-based Marathon Banking Corp. ($902.1 million); Chiefland, Fla.-based Drummond Banking Co. unit Drummond Community Bank agreeing to acquire Williston, Fla.-based Williston Holding Co. and Fairfax, Va.-based First Virginia Community Bank acquiring Arlington, Va.-based 1st Commonwealth Bank of Virginia ($57.4 million) in a stock-for-stock transaction for $3.7 million.

In 2011, there were 176 transactions announced with a total deal value of $17.02 billion, compared to 215 in 2010 valued at $12.32 billion, according to SNL.

The largest bank deal since Jan. 1, 2010, was McLean, Va.-based Capital One Financial Corp.'s June 16, 2011, agreement to buy Wilmington, Del.-based ING Bank FSB for $9 billion, according to SNL.

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio

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