World Library  
Flag as Inappropriate
Email this Article

Bank mergers

Article Id: WHEBN0001101003
Reproduction Date:

Title: Bank mergers  
Author: World Heritage Encyclopedia
Language: English
Subject: Banking in the United States
Collection:
Publisher: World Heritage Encyclopedia
Publication
Date:
 

Bank mergers

This is a partial list of major banking company mergers since 1920 in the United States.

Year merger closed Acquirer Acquired bank Merged entity Transaction value Ultimate successor
1923 Berks County Trust Company Schuylkill Valley Bank Berks County Trust Company Wells Fargo
1926 Fidelity Trust Company Philadelphia Trust Company Fidelity-Philadelphia Trust Company[1] Wells Fargo
1929 Security Trust Company National Bank of Delaware Security Trust Company[2]
1929 Colonial Trust Company Northeastern Trust Company Colonial-Northeastern Trust Company Wells Fargo
1929 Bank of North America Pennsylvania Company for Insurances on Lives Bank of North America and Trust Company[3] Wells Fargo
1930 Chase National Bank Equitable Trust Co. of NY Chase National Bank JPMorgan Chase & Co.
1930 Chase National Bank Interstate Trust Co. Chase National Bank JPMorgan Chase & Co.
1932 Berks County Trust Company Colonial-Northeastern Trust Company Berks County Trust Company (1964 as American Bank and Trust Co or American Bankcorp) Wells Fargo
1941 Berks County Trust Company Union National Bank Berks County Trust Company (1964 as American Bank and Trust Co or American Bankcorp) Wells Fargo
1948 Chemical Bank & Trust Co. Continental Bank & Trust Co. of NY Chemical Bank & Trust Co. JPMorgan Chase & Co.
1951 Chemical Bank & Trust Co. National Safety Bank & Trust Co. of NY Chemical Bank & Trust Co. JPMorgan Chase & Co.
1954 Chemical Bank & Trust Co. Corn Exchange Bank & Trust Co. Chemical Corn Exchange Bank JPMorgan Chase & Co.
1955 Bank of North America and Trust Company First National Bank First Pennsylvania Banking and Trust Company[3] Wells Fargo
1955 National City Bank of New York First National Bank of New York First National City Bank Citigroup
1955 Bank of the Manhattan Co. Chase National Bank Chase Manhattan Bank JPMorgan Chase & Co.
1955 Bankers Trust Public National Bank & Trust Co. Bankers Trust Deutsche Bank
1956 Citizens and Southern National Bank of South Carolina Growers Bank and Trust Citizens and Southern National Bank of South Carolina Bank of America
1956 Fidelity-Philadelphia Trust Company Farmers National Bank of Bucks County Fidelity-Philadelphia Trust Company[4] Wells Fargo
1956 Fidelity-Philadelphia Trust Company Roosevelt Bank Fidelity-Philadelphia Trust Company[4] Wells Fargo
1957 Commercial National Bank American Trust Co. American Commercial Bank Bank of America
1957 Chase Manhattan Bank Staten Island National Bank & Trust Co. of NY Chase Manhattan Bank JPMorgan Chase & Co.
1959 Chase Manhattan Bank Clinton Trust Company Chase Manhattan Bank JPMorgan Chase & Co.
1959 Chemical Corn Exchange Bank New York Trust Co. Chemical Bank New York Trust Co. JPMorgan Chase & Co.
1961 J. P. Morgan & Co. Guaranty Trust Co. of NY Morgan Guaranty Trust Co. of NY JPMorgan Chase & Co.
1960 American Commercial Bank North Carolina National Bank North Carolina National Bank Bank of America
1961 Manufacturers Trust Co. Hanover Bank Manufacturers Hanover Bank JPMorgan Chase & Co.
1963 Chemical Bank New York Trust Co. Bank of Rockville Centre Trust Co. Chemical Bank New York Trust Co. JPMorgan Chase & Co.
1940s-1960s Berks County Trust Company Wyomissing Valley Bank, Temple State Bank, Mount Penn Trust Company, Reamstown Exchange Bank, Schuylkill Trust Company Berks County Trust Company (1964 as American Bank and Trust Co or American Bankcorp) Wells Fargo
1964 Chemical Bank New York Trust Co. First National Bank of Mount Vernon Chemical Bank New York Trust Co. JPMorgan Chase & Co.
1964 Chemical Bank New York Trust Co. Bensonhurst National Bank of Brooklyn Chemical Bank New York Trust Co. JPMorgan Chase & Co.
1975 Chemical Bank New York Trust Co. Security National Bank Chemical Bank New York Trust Co. JPMorgan Chase & Co.
1983 Mellon National Corp. Girard Bank Mellon National Bank of New York Mellon
1983 BankAmerica Corp. Seafirst Bank BankAmerica Corp. (Seafirst banks operated as Seafirst until 1998) Bank of America
1983 American Bankcorp (changed name from Berks County Trust Company to American Bank and Trust Co. 1964) Central-Penn National Corporation (Central-Penn Bank) Meridian Bancorp, Incorporated Wells Fargo
1984 Chase Manhattan Corporation Lincoln First Bank Chase Manhattan Corporation (Chase Lincoln First until 1993) JPMorgan Chase & Co.
1985 Bank of Boston Corp. Colonial Bank Bank of Boston Corp. Bank of America
1985 Bank of Boston Corp. Rhode Island Hospital Trust National Bank Bank of Boston Corp. Bank of America
1985 Bank of New England Corp. The Connecticut Bank and Trust Co. Bank of New England Corp. Bank of America
1985 Citizens and Southern Georgia Corporation Citizens and Southern National Bank of South Carolina Citizens & Southern National Bank Bank of America
1985 Trust Company of Georgia SunBanks, Inc. SunTrust Banks SunTrust Banks
1985 Signet Banking Corporation Union Trust Bancorp Signet Banking Corporation Wells Fargo
1986 Signet Banking Corporation Security National Corp. Signet Banking Corporation Wells Fargo
1986 Sovran Financial Corp. Suburban Bank Sovran Financial Corp. Bank of America
1985 SunTrust Banks Third National Corporation SunTrust Banks SunTrust Banks
1986 Security Pacific Corp. The Arizona Bank Security Pacific Corp. Bank of America
1986 Wells Fargo Corp. Crocker National Bank Wells Fargo Corp. (combined California bank uses Crocker's charter) Wells Fargo
1987 Chemical Bank New York Trust Co. Texas Commerce Bank Chemical Banking Corporation (TX banks continued to operate as Texas Commerce) $1.2 billion JPMorgan Chase & Co.
1987 Fleet Financial Group, Inc. Norstar Bank Fleet/Norstar Financial Group, Inc. $1.3 billion[5] Bank of America
1987 First Fidelity Bancorp. The Fidelity Bank (Fidelcor) First Fidelity Bancorp $1.34 billion; largest ever at the time[5] Wells Fargo
1987 PNC Financial Corp. Central Bancorp. PNC Financial Corp. Nearly $700 million[5] PNC Financial Services
1987 RepublicBank Corp. Interfirst Corp. First Republic Bank Corporation Bank of America
1987 Security Pacific Corp. Rainier National Bank Security Pacific Corp. (banks in Pacific NW continued to operate as Rainier) Bank of America
1987 Sovran Financial Corp. Commerce Union Bank Sovran Financial Corp. Bank of America
1987 U.S. Bancorp Peoples National Bank of Washington U.S. Bancorp U.S. Bancorp
1987 First Union Corp. Atlantic National Bank of Florida First Union Wells Fargo
1988 Bank of New York Irving Trust Company Bank of New York Bank of New York Mellon
1988 Shawmut Corp. Hartford National Corp. Shawmut National Corp. Bank of America
1988 Shawmut Corp. Arlington Trust Co. Shawmut National Corp. Bank of America
1988 First Bank System, Inc. Central Bank of Denver First Bank System, Inc. (Colo. banks never became First Bank due to name conflict) U.S. Bancorp
1988 Wells Fargo Corp. Barclays Bank of California, a subsidiary of Barclays plc Wells Fargo Corp. Wells Fargo
1988 Security Pacific Corp. The Hibernia Bank Security Pacific Corp. Bank of America
1988 Credit Suisse The First Boston Corporation CS First Boston (later Credit Suisse First Boston) Credit Suisse
1988 North Carolina National Bank First Republic Bank Corporation North Carolina National Bank Bank of America
1989 Boatmen's Bancshares Centerre Bank Boatmen's Bancshares Bank of America
1989 Security Pacific Corp. Nevada National Bancorporation Security Pacific Corp. Bank of America
1989 Union Planters Bank Magna Bank (Missouri) Union Planters Bank Regions Financial
1990 CoreStates Financial Corp. First Pennsylvania Bank CoreStates Financial Corp. Wells Fargo
1990 First Union Corporation Florida National Bank First Union Corporation Wells Fargo
1990 Citizens & Southern National Bank Sovran Financial Corp. C&S/Sovran Corp. Bank of America
1991 Fleet/Norstar Financial Group, Inc. Bank of New England Fleet/Norstar Financial Group, Inc. Bank of America
1991 North Carolina National Bank C&S/Sovran Corp. NationsBank Corp. Bank of America
1991 Norwest Corp. United Bank of Denver Norwest Corp. Wells Fargo
1991 Wachovia The South Carolina National Bank Wachovia Wells Fargo
1991 First Union Corporation Southeast Banking Corporation First Union Corporation Wells Fargo
1991 NBD Bancorp Summcorp NBD Bank $323 million[6] JPMorgan Chase & Co.
1991 Society Corp. Ameritrust Corp. Society Corp. KeyBank
1991 Signet Banking Corporation Madison National Bank Signet Banking Corporation Wells Fargo
1991 First Fidelity Bank Atlantic Financial First Fidelity $991 million[7] Wells Fargo
1992 BankAmerica Corp. Security Pacific Corp. BankAmerica Corp. Bank of America
1992 Keycorp Puget Sound National Bank Keycorp KeyBank
1992 Barnett Banks, Inc. First Florida Bank Barnett Banks, Inc. Bank of America
1992 Comerica, Inc. Manufacturers Bank Comerica Comerica
1992 NBD Bancorp INB Financial Corp. NBD Bancorp $876 million[8] JPMorgan Chase & Co.
1992 Chemical Bank Manufacturers Hanover Trust Company Chemical Bank JPMorgan Chase & Co.
1993 First Bank System, Inc. Colorado National Bank First Bank System, Inc. (CNB remained unchanged until after merger with U.S. Bancorp) U.S. Bancorp
1993 Banc One Corp. The Valley National Bank of Arizona Banc One Corp. JPMorgan Chase & Co.
1993 Bank of Boston Corp. South Shore Bank, Mechanics Bank, First Agricultural Bank of Boston Corp. Bank of America
1993 First Union Corporation Dominion Bank First Union Corporation Wells Fargo
1993 First Union Corporation First American Bankcorp First Union Corporation Wells Fargo
1993 NationsBank Corp. Maryland National Bank NationsBank Corp. Bank of America
1993 NationsBank Corp. American Security Bank NationsBank Corp. Bank of America
1994 Society Corp. Keycorp Keycorp KeyBank
1994 Signet Banking Corporation Pioneer Financial Corp. Signet Banking Corporation Wells Fargo
1994 BankAmerica Corp. Continental Illinois National Bank BankAmerica Corp. Bank of America
1994 First Fidelity Bank Bank of Baltimore First Fidelity Bank[9] Wells Fargo
1995 NBD Bancorp Deerbank Corp. NBD Bank $120 million JPMorgan Chase & Co.
1995 First Chicago Bank NBD Bank First Chicago NBD JPMorgan Chase & Co.
1995 BB&T Corporation Southern National Corp. BB&T Corporation BB&T
1995 Fleet Financial Group, Inc. Shawmut National Corp. Fleet Financial Group, Inc. Bank of America
1996 Wells Fargo Corp. First Interstate Bancorp Wells Fargo Corp. Wells Fargo
1996 Union Bank Bank of California Union Bank of California $25 billion Union Bank N.A.
1996 Chemical Banking Corp. Chase Manhattan Corporation Chase Manhattan Corporation JPMorgan Chase & Co.
1996 CoreStates Financial Corp. Meridian Bancorp, Inc. CoreStates Financial Corp. Wells Fargo
1996 Bank of Boston Corp. BayBanks, Inc. BankBoston Corp. Bank of America
1996 First Union Corporation First Fidelity Bank First Union Corporation Wells Fargo
1996 First Union Corporation Center Financial Corporation(CenterBank) First Union Corporation Wells Fargo
1996 Fleet Financial Group, Inc. National Westminster Bancorp, a subsidiary of National Westminster Bank Fleet Financial Group, Inc. Bank of America
1996 Crestar Financial Corp. Citizens Bancorp (Laurel, MD) Crestar Financial Corp. SunTrust Banks
1997 U.S. Bancorp First Bank System, Inc. U.S. Bancorp U.S. Bancorp
1997 NationsBank Corp. Boatmen's Bancshares NationsBank Corp. $9.6 Billion Bank of America
1997 Washington Mutual Great Western Financial Corporation Washington Mutual JPMorgan Chase & Co.
1997 First Union Corporation Signet Banking Corporation First Union Corporation Wells Fargo
1997 National City Corp. First of America Bank National City Corp. PNC Financial Services
1997 Banc One Corp. First USA Bank One Corp. JPMorgan Chase & Co.
1997 First Nationwide Bank California Federal Bank California Federal Bank $1.2 billion, 1st Nationwide rebranded as "Cal Fed." Citibank
1998 NationsBank Corp. Barnett Banks, Inc. NationsBank Corp. Bank of America
1998 First Union Corporation CoreStates Financial Corp. First Union Corporation Wells Fargo
1998 NationsBank Corp. BankAmerica Corp. Bank of America Corp. Bank of America
1998 Golden State Bancorp First Nationwide Holdings, Inc. Golden State Bancorp $5.8 billion Citigroup
1998 Norwest Corp Wells Fargo Corp. Wells Fargo Corp. Wells Fargo
1998 Star Banc Corp. Firstar Holdings Corp. Firstar Corporation U.S. Bancorp
1998 Banc One Corp. First Chicago NBD Bank One Corp. JPMorgan Chase & Co.
1998 Banc One Corp. First Commerce Corp. Bank One Corp. JPMorgan Chase & Co.
1998 Travelers Group Citicorp Citigroup $140 Billion Citigroup
1998 SunTrust Bank Crestar Financial Corp. SunTrust Banks, Inc. SunTrust Banks
1998 Washington Mutual H.F. Ahmanson & Co. Washington Mutual JPMorgan Chase & Co.
1999 Fleet Financial Corp. BankBoston Corp. FleetBoston Financial Corp. Bank of America
1999 Deutsche Bank AG Bankers Trust Corp. Deutsche Bank AG Deutsche Bank
1999 HSBC Holdings plc Republic New York Corporation HSBC Bank USA HSBC Bank USA
1999 Firstar Corporation Mercantile Bancorporation, Inc. Firstar Corporation U.S. Bancorp
1999 AmSouth Bancorporation First American National Bank AmSouth Bancorporation $6.3 Billion Regions Financial
2000 Chase Manhattan Corporation J.P. Morgan & Co. Inc. J.P. Morgan Chase & Co. JPMorgan Chase & Co.
2000 Washington Mutual Bank United Corp. Washington Mutual $1.5 Billion JPMorgan Chase & Co.
2000 Wells Fargo & Co. First Security Corp. Wells Fargo & Co. Wells Fargo
2000 UBS AG Paine Webber UBS AG UBS AG
2001 Firstar Corporation U.S. Bancorp U.S. Bancorp U.S. Bancorp
2001 First Union Corp. Wachovia Wachovia Wells Fargo
2001 Fifth Third Bancorp Old Kent Financial Corp. Fifth Third Bancorp Fifth Third Bank
2001 Standard Federal Bank Michigan National Bank Standard Federal Bank Bank of America
2001 FleetBoston Financial Corp. Summit Bancorp FleetBoston Financial Corp. Bank of America
2002 Citigroup Golden State Bancorp Citigroup $5.8 billion Citigroup
2002 Washington Mutual Dime Bancorp, Inc. Washington Mutual JPMorgan Chase & Co.
2002 HSBC Holdings plc Household International, Inc. HSBC Bank USA HSBC Bank USA
2003 BB&T Corp. 1st Virginia Banks, Inc. BB&T Corp. BB&T
2003 M&T Bank Allfirst Bank M&T Bank M&T Bank
2004 New Haven Savings Bank Savings Bank of Manchester, Tolland Bank NewAlliance Bank NewAlliance Bank
2004 North Fork Bancorporation Inc. The Trust Company of New Jersey North Fork Bancorporation Inc. $726 Million Capital One Financial
2004 Bank of America Corp. FleetBoston Financial Corp. Bank of America Corp. $47 Billion Bank of America
2004 J.P. Morgan Chase & Co. Bank One JPMorgan Chase & Co. JPMorgan Chase & Co.
2004 Banco Popular Quaker City Bank Banco Popular Banco Popular
2004 Regions Financial Corporation Union Planters Corporation Regions Financial Corporation $5.9 Billion Regions Financial
2004 SunTrust National Commerce Financial SunTrust $6.98 Billion[10] SunTrust Banks
2004 Wachovia SouthTrust Wachovia $14.3 Billion Wells Fargo
2005 PNC Bank Riggs Bank PNC Bank $0.78 billion[11] PNC Financial Services
2005 Capital One Financial Corporation Hibernia National Bank Capital One Financial Corporation $4.9 Billion[12] Capital One Financial
2005 Bank of America MBNA Corporation Bank of America Card Services $35 Billion Bank of America
2006 Wachovia Westcorp Inc. (holding company for WFS Financial Inc and Western Financial Bank) Wachovia $3.91 Billion[13] Wells Fargo
2006 NewAlliance Bank Cornerstone Bank NewAlliance Bank NewAlliance Bank
2006 Capital One Financial Corporation North Fork Bank Capital One Financial Corporation $13.2 Billion[14] Capital One Financial
2006 Wachovia Golden West Financial Wachovia $25 Billion[15] Wells Fargo
2006 Regions Financial Corporation AmSouth Bancorporation Regions Financial Corporation $10 Billion Regions Financial
2007 Citizens Banking Corporation Republic Bancorp Citizens Republic Bancorp $1.048 Billion FirstMerit Bank
2007 Banco Bilbao Vizcaya Argentaria USA Compass Bancshares BBVA Compass $9.8 Billion BBVA Compass
2007 Bank of America LaSalle Bank Bank of America $21 Billion Bank of America
2007 State Street Corporation Investors Financial Services Corporation State Street Corporation $4.2 Billion State Street Corporation
2007 Bank of New York Mellon Financial Corporation Bank of New York Mellon $18.3 Billion Bank of New York Mellon
2007 Wachovia World Savings Bank Wachovia $25 Billion Wells Fargo
2007 Bank of America U.S. Trust Corporation Bank of America Private Wealth Management Bank of America
2007 M&T Bank Partners Trust Financial Group M&T Bank M&T Bank
2008 TD Banknorth Commerce Bancorp TD Bank, N.A. $8.5 Billion TD Bank, N.A.
2008 JPMorgan Chase Bear Stearns JPMorgan Chase $1.1 Billion JPMorgan Chase & Co.
2008 Bank of America Merrill Lynch Bank of America $50 Billion Bank of America
2008 Wells Fargo Wachovia Wells Fargo $15.1 Billion[16] Wells Fargo
2008 JPMorgan Chase Washington Mutual JPMorgan Chase $1.9 Billion[17] JPMorgan Chase & Co.
2008 Fifth Third Bank First Charter Bank Fifth Third Bank $1.1 billion[18] Fifth Third Bank
2008 PNC Financial Services National City Corp. PNC Financial Services $5.08 billion[19] PNC Financial Services
2008 U.S. Bancorp Downey Savings and Loan U.S. Bancorp U.S. Bancorp
2009 M&T Bank Provident Bank of Maryland M&T Bank M&T Bank
2009 M&T Bank Bradford Bank M&T Bank M&T Bank
2011 M&T Bank Wilmington Trust M&T Bank M&T Bank
2011 Capital One ING Direct USA Capital One $9 billion[20] Capital One
2012 PNC Financial Services RBC Bank PNC Financial Services $3.45 billion PNC Financial Services
2013 FirstMerit Bank Citizens Republic Bancorp FirstMerit Bank $912 million FirstMerit Bank

Mergers Diagram


This is a drawing, showing the same data as the table above. It is produced using hierarchical layout with constraints to keep the acquisition flow going from top to bottom within a connected component. Each entity is represented by rectangle with name, a solid edge indicates that the source bank bought the target bank. The dotted edges point to the merged entity after the acquisition was complete. The solid edges are labeled with the year that the acquisition took place and are also colored by how old the acquisition is, from blue (older) to red (newer).

References

  • 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, The New York Times, August 1, 1987
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 



Copyright © World Library Foundation. All rights reserved. eBooks from World Library are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.