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List of bank mergers in the United States

 
Wikipedia: List of bank mergers in the United States
 

This is a partial list of many of the major banking company mergers since 1930 in the U.S.

Year Merger closed Acquirer Acquired bank Name of merged entity Transaction Value
1930 Chase National Bank Equitable Trust Chase National Bank
1954 Chemical Bank & Trust Co. Corn Exchange Bank & Trust Co. Chemical Corn Exchange Bank & Trust Co.
1955 National City Bank of New York First National Bank of New York First National City Bank
1955 Bank of the Manhattan Co. Chase National Bank Chase Manhattan Bank
1955 Bankers Trust Public National Bank & Trust Co. Bankers Trust
1956 C&S of South Carolina Growers Bank and Trust C&S of South Carolina
1957 Commercial National Bank American Trust Co. American Commercial Bank
1960 American Commercial Bank Security National Bank North Carolina National Bank
1961 Manufacturers Trust Co. Hanover Bank Manufacturers Hanover Bank
1983 Mellon National Corp. Girard Bank Mellon National
1983 BankAmerica Corp. Seafirst Bank BankAmerica Corp. (Seafirst banks operated as Seafirst until 1998)
1984 Chase Manhattan Corporation Lincoln First Bank Chase Manhattan Corporation (most of former Lincoln First Bank operated as Chase Lincoln First)
1985 Bank of Boston Corp. Colonial Bank Bank of Boston Corp.
1985 Bank of Boston Corp. Rhode Island Hospital Trust National Bank Bank of Boston Corp.
1985 Bank of New England Corp. The Connecticut Bank and Trust Co. Bank of New England Corp.
1985 Citizens and Southern Georgia Corporation Citizens and Southern National Bank of South Carolina Citizens & Southern National Bank
1986 Sovran Financial Corp. Suburban Bank Sovran Financial Corp.
1986 Security Pacific Corp. The Arizona Bank Security Pacific Corp.
1986 Wells Fargo Corp. Crocker National Bank Wells Fargo Corp. (combined California bank uses Crocker's charter)
1987 Chemical New York Corp. Texas Commerce Bank Chemical Banking Corporation (TX banks continued to operate as Texas Commerce) $1.2 Billion
1987 The Fidelity Bank (Fidelcor) First Fidelity Bank First Fidelity Bank $1.34 Billion-largest ever at the time
1987 RepublicBank Corp. Interfirst Corp. First Republic Bank Corp.
1987 Security Pacific Corp. Rainier National Bank Security Pacific Corp. (banks in Pacific NW continued to operate as Rainier)
1987 Sovran Financial Corp. Commerce Union Bank Sovran Financial Corp.
1987 U.S. Bancorp Peoples National Bank of Washington U.S. Bancorp
1987 Fleet Financial Group, Inc. Norstar Bank Fleet/Norstar Financial Group, Inc.
1987 First Union Corp. Atlantic National Bank of Florida First Union
1988 Bank of New York Irving Bank Corp. Bank of New York
1988 Shawmut Corp. Hartford National Corp. Shawmut National Corp.
1988 Shawmut Corp. Arlington Trust Co. Shawmut National Corp.
1988 First Bank System, Inc. Central Bank of Denver First Bank System, Inc. (Colo. banks never became First Bank due to name conflict)
1988 Wells Fargo Corp. Barclays Bank of California, a subsidiary of Barclays plc Wells Fargo Corp.
1988 Security Pacific Corp. The Hibernia Bank Security Pacific Corp.
1988 Credit Suisse The First Boston Corporation CS First Boston (later Credit Suisse First Boston)
1988 North Carolina National Bank First Republic Bank Corp. North Carolina National Bank
1989 Security Pacific Corp. Nevada National Bancorporation Security Pacific Corp.
1990 CoreStates Financial Corp. First Pennsylvania Bank CoreStates Financial Corp.
1990 First Union Corporation Florida National Bank First Union Corporation
1990 Citizens & Southern Bank Sovran Financial Corp. C&S/Sovran Corp.
1991 Fleet/Norstar Financial Group, Inc. Bank of New England Fleet/Norstar Financial Group, Inc.
1991 Chemical Banking Corp. Manufacturers Hanover Bank Chemical Banking Corp.
1991 North Carolina National Bank C&S/Sovran Corp. NationsBank Corp.
1991 Norwest Corp. United Bank of Denver Norwest Corp.
1991 Wachovia Corp. The South Carolina National Bank Wachovia Corp.
1991 First Union Corporation Southeast Banking Corporation First Union Corporation
1991 Society Corp. Ameritrust Corp. Society Corp.
1992 BankAmerica Corp. Security Pacific BankAmerica Corp.
1992 Keycorp Puget Sound National Bank Keycorp
1992 Barnett Banks, Inc. First Florida Bank Barnett Banks, Inc.
1992 Comerica, Inc. Manufacturers Bank Comerica
1993 First Bank System, Inc. Colorado National Bank First Bank System, Inc. (CNB remained unchanged until after merger with U.S. Bancorp)
1993 Banc One Corp. The Valley National Bank of Arizona Banc One Corp.
1993 Bank of Boston Corp. South Shore Bank, Mechanics Bank, First Agricultural Bank of Boston Corp.
1993 First Union Corporation Dominion Bank First Union Corporation
1993 First Union Corporation First American Bankcorp First Union Corporation
1993 NationsBank Corp. Maryland National Bank NationsBank Corp.
1993 NationsBank Corp. American Security Bank NationsBank Corp.
1994 Society Corp. Keycorp Keycorp
1994 BankAmerica Corp. Continental Illinois National Bank BankAmerica Corp.
1995 Chemical Banking Corp. Chase Manhattan Corporation Chase Manhattan Corporation
1995 First Chicago Corp. NBD Bancorp, Inc. First Chicago NBD Corp.
1995 BB&T Corporation Southern National Corp. BB&T Corporation
1995 Fleet Financial Group, Inc. Shawmut National Corp. Fleet Financial Group, Inc.
1996 Wells Fargo Corp. First Interstate Bancorp Wells Fargo Corp.
1996 CoreStates Financial Corp. Meridian Bancorp, Inc. CoreStates Financial Corp.
1996 Bank of Boston Corp. BayBanks, Inc. BankBoston Corp.
1996 First Union Corporation First Fidelity Bancorporation First Union Corporation
1996 First Union Corporation Center Financial Corporation(CenterBank) First Union Corporation
1996 Fleet Financial Group, Inc. National Westminster Bancorp, a subsidiary of National Westminster Bank Fleet Financial Group, Inc.
1997 U.S. Bancorp First Bank System, Inc. U.S. Bancorp
1997 NationsBank Corp. Boatmen's Bancshares NationsBank Corp. $9.6 Billion
1997 Washington Mutual Great Western Financial Corporation Washington Mutual
1997 First Union Corporation Signet Banking Corp. First Union Corporation
1997 National City Corp. First of America Bank National City Corp.
1998 NationsBank Corp. Barnett Banks, Inc. NationsBank Corp.
1998 First Union Corporation CoreStates Financial Corp. First Union Corporation
1998 NationsBank Corp. BankAmerica Corp. Bank of America Corp.
1998 Golden State Bancorp First Nationwide Holdings, Inc. Golden State Bancorp
1998 Norwest Corp Wells Fargo Corp. Wells Fargo Corp.
1998 Star Banc Corp. Firstar Holdings Corp. Firstar Corporation
1998 Banc One Corp. First Chicago NBD Corp. Bank One Corp.
1998 Travelers Group Citicorp Citigroup $140 Billion
1998 SunTrust Bank Crestar Financial Corp. SunTrust Banks, Inc.
1998 Washington Mutual H.F. Ahmanson & Co. Washington Mutual
1999 Fleet Financial Corp. BankBoston Corp. FleetBoston Financial Corp.
1999 Deutsche Bank AG Bankers Trust Corp. Deutsche Bank AG
1999 HSBC Holdings plc Republic New York Corporation HSBC Bank USA
1999 Firstar Corporation Mercantile Bancorporation, Inc. Firstar Corporation
1999 AmSouth Bancorporation First American National Bank AmSouth Bancorporation $6.3 Billion
2000 Chase Manhattan Corporation J.P. Morgan & Co. Inc. J.P. Morgan Chase & Co.
2000 Washington Mutual Bank United Corp. Washington Mutual $1.5 Billion
2000 Wells Fargo & Co. First Security Corp. Wells Fargo & Co.
2001 Firstar Corporation U.S. Bancorp U.S. Bancorp
2001 First Union Corp. Wachovia Corp. Wachovia Corp.
2001 Fifth Third Bancorp Old Kent Financial Corp. Fifth Third Bancorp
2001 Standard Federal Bank Michigan National Bank Standard Federal Bank N.A.
2001 FleetBoston Financial Corp. Summit Bancorp FleetBoston Financial Corp.
2002 Citigroup Inc. Golden State Bancorp Citigroup Inc.
2002 Washington Mutual Dime Bancorp, Inc. Washington Mutual
2003 BB&T Corp. First Virginia Banks, Inc. BB&T Corp.
2003 M&T Bank Allfirst Bank M&T Bank
2004 New Haven Savings Bank Savings Bank of Manchester, Tolland Bank NewAlliance Bank
2004 North Fork Bancorporation Inc. The Trust Company of New Jersey North Fork Bancorporation Inc. $726 Million
2004 Bank of America Corp. FleetBoston Financial Corp. Bank of America Corp. $47 Billion
2004 J.P. Morgan Chase & Co. Bank One JPMorgan Chase & Co.
2004 Banco Popular Quaker City Bank Banco Popular
2004 Regions Financial Corporation Union Planters Corporation Regions Financial Corporation $5.9 Billion
2004 SunTrust National Commerce Financial SunTrust $6.98 Billion[1]
2004 Wachovia SouthTrust Wachovia $14.3 Billion
2005 PNC Bank Riggs Bank PNC Bank $0.78 billion[2]
2005 Capital One Financial Corporation Hibernia National Bank Capital One Financial Corporation $4.9 Billion[3]
2005 Bank of America MBNA Corporation Bank of America Card Services $35 Billion
2006 Wachovia Westcorp Inc. (holding company for WFS Financial Inc and Western Financial Bank) Wachovia $3.91 Billion[4]
2006 NewAlliance Bank Cornerstone Bank NewAlliance Bank
2006 Capital One Financial Corporation North Fork Bank Capital One Financial Corporation $13.2 Billion[5]
2006 Wachovia Golden West Financial Wachovia $25 Billion[6]
2006 Regions Financial Corporation AmSouth Bancorporation Regions Financial Corporation $10 Billion
2007 Citizens Banking Corporation Republic Bancorp Citizens Republic Bancorp $1.048 Billion
2007 Banco Bilbao Vizcaya Argentaria Compass Bancshares Banco Bilbao Vizcaya Argentaria $9.8 Billion
2007 Bank of America LaSalle Bank Bank of America $21 Billion
2007 State Street Corporation Investors Financial Services Corporation State Street Corporation $4.2 Billion
2007 Bank of New York Mellon Financial Corporation Bank of New York Mellon $18.3 Billion
2007 Wachovia World Savings Bank Wachovia $25 Billion
2007 Bank of America U.S. Trust Bank of America Private Wealth Management
2008 TD Bank Financial Group Commerce Bancorp TD Bank $8.5 Billion
2008 JPMorgan Chase Bear Stearns JPMorgan Chase $1.1 Billion
2008 Bank of America Merrill Lynch Bank of America $50 Billion
2008 JPMorgan Chase Washington Mutual JPMorgan Chase $1.9 Billion[7]
2008 Wells Fargo Wachovia Wells Fargo $15.1 Billion[8]
2008 5/3 Bank First Charter Bank 5/3 Bank
2008 PNC Financial Services National City Corp. PNC Financial Services $5.08 billion[9]

References

  1. ^ "SunTrust to buy National Commerce Financial". Atlanta Business Chronicle. 9 May 2004. http://atlanta.bizjournals.com/atlanta/stories/2004/05/03/daily60.html. 
  2. ^ Barbash, Fred (July 16, 2004). "Riggs Bank Sold to PNC Financial Services Group". Washington Post. http://www.washingtonpost.com/wp-dyn/articles/A54380-2004Jul16.html. 
  3. ^ Capital One Financial Corporation (November 16, 2005). "Capital One Completes Acquisition of Hibernia Corporation". http://www.sec.gov/Archives/edgar/data/927628/000090342305000927/capone_ex991-1116.htm. 
  4. ^ Wachovia (12 September 2005). WACHOVIA CORPORATION TO ACQUIRE WESTCORP AND WFS FINANCIAL INC IN $3.91 BILLION TRANSACTION. Press release. http://www.wachovia.com/inside/page/0,,134_307_348_1270_7455%5E1245,00.html. 
  5. ^ Capital One Financial Corporation (December 1, 2006). "Capital One Completes Acquisition of North Fork Bancorporation". http://www.sec.gov/Archives/edgar/data/927628/000119312506245235/dex991.htm. 
  6. ^ Wachovia Corporation (May 7, 2006). "Wachovia to Acquire Golden West Financial". http://www.sec.gov/Archives/edgar/data/36995/000119312506103017/dex99a.htm. 
  7. ^ Eric Dash and Andrew Ross Sorkin (September 26, 2008). "Government Seizes WaMu and Sells Some Assets". New York Times. http://www.nytimes.com/2008/09/26/business/26wamu.html. 
  8. ^ David Ellis (October 3, 2008). "Wachovia: Wells in, Citi out". CNN Money. http://money.cnn.com/2008/10/03/news/companies/wells_fargo_wachovia/index.htm. 
  9. ^ DAN FITZPATRICK, DAVID ENRICH and DAMIAN PALETTA (October 25, 2008). "PNC Buys National City in Bank Shakeout". The Wall Street Journal. http://online.wsj.com/article/SB122485472991366463.html?mod=testMod. 
  • Stephen A. Rhoades, "Bank Mergers and Industrywide Structure, 1980-1994," Washington: Board of Governors of the Federal Reanuary 1996. (Staff study 169)
  • Steven J. Pilloff, "Bank Merger Activity in the United States, 1994-2003," Washington: Board of Governors of the Federal Reserve System, May 2004. (Staff study 176)
  • Institute of Mergers, Acquisitions and Alliances (MANDA) M&A An academic research institute on mergers & acquisitions, including bank mergers
  • Mellon Merger, The New York Times, April 7, 1983
  • In the Most Expensive Bank merger ever, New York Times, August 1, 1987

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