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A recent report from Sterne Agee included a list of banks with similar traits to sellers in pending deals. Such traits, including aging CEOs and substandard returns, could portend future sellers.
December 1 -
Security National Bank in Sioux City, Iowa, said Thursday that it has agreed to purchase First Trust & Savings Bank in Moville, Iowa.
December 4 -
Most big companies achieve success by squeezing vendors, lowering prices, improving efficiency and giving consumers what they want. But in the topsy-turvy world of banking, the most disliked financial institutions end up at the top of the food chain.
December 4
Border Bancshares in Greenbush, Minn., has agreed to buy full ownership of First Advantage Bank in Coon Rapids, Minn.
Border was one of First Advantage's founding shareholders and owns 4.5% of its stock, making it one of First Advantage's larger investors. The deal would give Border, which primarily operates in the northern part of Minnesota, a presence in the suburbs of Minneapolis and St. Paul. First Advantage would retain its name and be operated as a separate unit.
The deal is expected to be completed in the first quarter.
Border, the parent company of Border State Bank, had $369 million of assets at Sept. 30. First Advantage had assets of $70 million.
