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Mortgage Banker Invests in Bank

Recent bank mergers and acquisition activity

April 2, 2010

By SAM GARCIA


More than 30 new bank acquisition applications have been reported by the Federal Reserve during the past few weeks. A California mortgage banker, meanwhile, has invested in a California financial institution.

A March 9 filing with the Securities and Exchange indicated that a merger agreement between Tower Bancorp Inc. and First Chester County Corp. was amended. The deal now calls for Tower subsidiary Graystone Tower Bank to be the surviving institution, with First Chester subsidiary First National Bank of Chester County being merged into Graystone.

Tri-Capital LLC will invest $6 million in Tri-Valley Bank, a March 15 statement said. The deal, which is expected to close by Aug. 31, is subject to regulatory approval.

Tri-Capital was founded by Alamo, Calif.-based RPM Mortgage owner Robert Hirt -- who in 2006 told MortgageDaily.com that the 24-year-old company, originally founded as Residential Pacific Mortgage, employed 275 loan agents, operated 23 offices and expected to close more than $3 billion that year. The investment is expected to help return the San Ramon, Calif., financial institution back to profitability. Tri-Valley reported a $4 million loss for last year.

This week, CCG Catalyst announced it offers merger and acquisition services for financial institutions. Its due diligence services reportedly help prevent integration problems down the road.

The following merger applications were recently received Federal Reserve Board.

Acquirer Acquisition Target Regulator Overview
Anchor Bancorp Inc. Anchor Mutual Savings Bank Federal Reserve Bank of San Francisco Become bank-holding company by acquiring 100% of voting shares upon conversion from a mutual savings bank to a stock savings bank.
Ballard, Clarence D. Sulphur Springs Bancshares Inc., The City National Bank of Sulphur Springs Federal Reserve Bank of Dallas Acquire voting shares.
Brazier, Dennis and Terri Border Bancshares Inc., Border State Bank Federal Reserve Bank of Minneapolis Acquire voting shares.
Bryn Mawr Bank Corp. Bryn Mawr Interim Bank Federal Reserve Bank of Philadelphia Acquire.
Burton, Robert G. NBG Bancorp Inc., National Bank of Georgia Federal Reserve Bank of Atlanta Acquire additional voting shares.
Cecchini, Gaetano M., as trustee of the Gaetano Mattioli Cecchini Living Trust Southport Financial Corp., Southport Bank Federal Reserve Bank of Chicago Acquire voting shares.
CrossFirst Holdings LLC Town & Country Bank Federal Reserve Bank of Kansas Acquire up to 100% of voting shares.
Doskocil, Kirk Bonifay Holding Company Inc., Bank of Bonifay Federal Reserve Bank of Atlanta Acquire voting shares.
Du Quoin State Bank ESOP Perry County Bancorp Inc., Du Quoin State Bank Federal Reserve Bank of St. Louis Become bank-holding company by retaining voting shares.
Evergreen Bancorporation Clear Creek National Bankllas Federal Reserve Bank of Kansas City Acquire up to 100% of voting shares.
First State Bancorp, Inc. Employee Stock Ownership Plan (Irvin G. Waller and Duane S. Michie as trustees) First State Bancorp Inc., First State Bank and Trust Co. Federal Reserve Bank of St. Louis Acquire voting shares.
Fox, R. Tracy, as trustee of the Smith Associated Banking Corporation Voting Trust Agreement Smith Associated Banking Corp., Bank of Salem, Security Bank Federal Reserve Bank of St. Louis Gain control.
Investar Holding Corp. Investar Bank Federal Reserve Bank of Atlanta Become bank-holding company by acquiring 100% of voting shares.
Jane Kincaid LLC Central Bancshares Inc., Central Bank & Trust Co. Federal Reserve Bank of Cleveland Become bank-holding company by acquiring 27.9% of voting shares.
Jane Kincaid LLC Central Bancshares Inc., Central Bank & Trust Co. Federal Reserve Bank of Cleveland Become bank-holding company by acquiring 29.3% of voting shares.
Maris, Michael L. The Community Group Inc., United Community Bank, N. A Federal Reserve Bank of Dallas Acquire voting shares.
McLeod, Peden B., Mary H. McLeod, John R. McLeod; Peden B. McLeod Jr., Mary C. Benson, Rhoda L. Perry, Carolina Lynch, acting in concert Communitycorp, Bank of Walterboro Federal Reserve Bank of Richmond Retain voting shares.
Minier Financial, Inc., Employee Stock Ownership Plan with 401(k) Provisions Minier Financial Inc., First Farmers State Bank Federal Reserve Bank of Chicago Acquire additional 6% of voting shares for total of 35%.
Montgomery, Michael Casey Bancorp Inc., Grand Bank of Texas Federal Reserve Bank of Dallas Acquire voting shares.
Morgan Stanley, Morgan Stanley Bank, N.A. Morgan Stanley Private Bank, N.A. Federal Reserve Bank of New York Acquire 100% of voting shares, convert into national bank and merge into subsidiary.
North Asia Investment Corp. Pacific City Financial Corp., Pacific City Bank Federal Reserve Bank of San Francisco Become bank-holding company by acquiring 100% of voting shares.
One Main Street, LLC, One Main Street Management, LLC, Liberty Bank Inc. Federal Reserve Bank of San Francisco Become bank-holding companies by acquiring 100% of voting shares.
Patriot Financial Partners, GP, L.P.; Patriot Financial Partners, L.P.; Patriot Financial Partners Parallel, L.P.; Patriot Financial Partners, GP, LLC; Patriot Financial Managers, L.P.; Ira M. Lubert; W. Kirk Wycoff; and James J. Lynch, Central Valley Community Bancorp, Central Valley Community Bank Federal Reserve Bank of Philadelphia Acquire voting shares.
PBS Bancshares Inc. People's Bank of Senecallas Federal Reserve Bank of Kansas City Become bank-holding company by acquiring 87.31% of voting shares.
SKBHC Holdings LLC Starbuck Bancshares Inc., The First National Bank of Starbuck Federal Reserve Bank of Dallas Become bank-holding company by acquiring 100%.
SmartFinancial Inc. SmartBank Federal Reserve Bank of Atlanta Become bank-holding company by acquiring 100% of outstanding shares.
Smith, Ross H. Jr., Eva J. Smith OSB Financial Services Inc., Orange Savings Bank Federal Reserve Bank of Dallas Acquire additional voting shares.
Stonebridge Bancorporation Shakopee Bancorporation Inc., Citizens State Bank of Shakopee Federal Reserve Bank of Minneapolis Merge.
TexStar Bancshares Inc. TexStar National Bank Federal Reserve Bank of Dallas Become bank-holding company by acquiring 100% of voting shares.
Tower Bancorp Inc. First Chester County Corp., First National Bank of Chester County Federal Reserve Bank of Philadelphia Merge.
TTC Holdings Inc. Austin, Calvert and Flavin Inc Federal Reserve Bank of Dallas Engage in financial and investment advisory activities through its acquisition.
Veritex Holdings Inc. Professional Capital Inc., Professional Bank, N.A. Federal Reserve Bank of Dallas Become bank-holding company by acquiring 100%.
Vivian Y. Miller Revocable Trust; Vivian Y. Miller, as trustee of the Vivian Y. Miller Revocable Trust; the Michael J. Miller Trust; Jon L. Miller, individually and as trustee of the Vivian Y. Miller Revocable Trust and the Michael J. Miller Trust; the William I. Hagen Revocable Trust; William I. Hagen, individually and as trustee of the William I. Hagen Revocable Trust; William M. Hagen; Lori Ann Minard; Melissa L. Tedford; Neal L. Broten; Sally T. Broten; Susan L. Mille; Brian J. MacLellan, as a group acting in concert Border Bancshares Inc., Border State Bank Federal Reserve Bank of Minneapolis Acquire additional voting shares.

Sam Garcia worked in mortgage lending for twenty years prior to becoming publisher of MortgageDaily.com in 2000.

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