© 2024 Arizent. All rights reserved.
p18pjmf9ee1dgo1fu3e091rv0mmv6.jpg

Who is Buying Bank of America's Branches?

Bank of America has sold more than 230 branches with $7.5 billion in deposits in the last two years. Here is a list of the nine banks that have bought the bulk of those locations.

(Image: Bloomberg News)

p18pjmf9g01ke1oeodak170s1ubp7.jpg

Washington Federal (74 branches)

The Seattle company has scooped up branches in six states, including Washington, Oregon, Arizona and Nevada. Unfortunately, deposit levels at those branches — bought in two separate deals — fell 24% between announcement and completion.

(Image: Thinkstock)

p18pjmf9g21260lif1gofs901ss28.jpg

Arvest Bank (29 branches)

The Fayetteville, Ark., bank which is partly owned by descendants of Walmart Stores founder Sam Walton, bought branches in Arkansas, Missouri, Oklahoma and Kansas, along with $750 million in deposits.

(Image: Bloomberg News)

p18pjmf9g41e9c1q7h15ai1mj5d279.jpg

Old National (24 branches)

Bank of America sold locations in Michigan and Indiana to Old National. The Evansville, Ind., company also paid a nearly 3% premium for $779 million in deposits.

(Image: Thinkstock)

p18pjmf9g511d7l1gpbq6k1njea.jpg

Huntington Bancshares (24 branches)

The Columbus, Ohio, company — led by Stephen Steinour — has two separate branch deals pending with B of A. The deals include Michigan branches with nearly $1 billion in assets.

p18pjmf9g5bi91le1lml1gnhdsob.jpg

Berkshire Hills Bancorp (20 branches)

The Massachusetts company, led by Michael Daly, bought locations in New York last year, snagging $640 million in deposits for a 2.25% premium.\

p18pjmf9gbrnivkj1md111tbm6qc.jpg

Camden National (15 branches)

Camden bulked up in its home state after buying branches and $414 million in deposits in Maine. The company also bought $14 million in loans, the largest amount disclosed among branch deals with Bank of America

(Image: Thinkstock)

p18pjmf9gdhjdijktcm10vpc92d.jpg

First Horizon (13 branches)

First Horizon, led by Bryan Jordan, agreed earlier this week to buy 13 branches in middle and eastern Tennessee, supplementing its existing network. The company also agreed to pay a 3.32% premium for $660 million in deposits.

p18pjmf9gfc5e1gd04kj15g16ute.jpg

First State Community Bank (nine branches)

The Farmington, Mo., bank has shown a preference for branch deals. First State agreed to two separate branch deals from other banks in 2010, picking up five locations. Its deal with B of A was announced in late 2012.

(Image: Thinkstock)

p18pjmf9gg18jb1aj018oa1f2akmvf.jpg

Community Bank System (eight branches)

Bank of America sold branches in Pennsylvania to the Dewitt, N.Y., company, which also agreed to pay a 2.39% premium for $369 million in deposits.

(Image: Thinkstock)
M&A Community banking
MORE FROM AMERICAN BANKER