China is seeks a stake in Morgan Stanley, while Wilbur Ross has an interest in a New Jersey bank. Federal banking regulators have received more than 60 applications during the past two months for bank acquisitions.
The Federal Reserve Bank of New York has received an application from China Investment Corp. to acquire at least 5 percent of the voting shares of Morgan Stanley, according to an Aug. 3 public filing. China Investment is a sovereign wealth fund that manages some of the People’s Republic of China’s foreign exchange reserves.
An application by companies affiliated with Wilbur Ross was received by the Federal Reserve Bank of Philadelphia, a public filing last month indicated. The entities are seeking to acquire voting shares of Vineland, N.J.-based Sun Bancorp Inc., parent of Sun National Bank.
First Republic Bank has become an independent institution through a sale of the company to investors including Colony Financial Inc., General Atlantic LLC and a group of investors in supporting First Republic Bank’s founding management team, a statement last month said.
The transaction was first announced in October 2009 by Bank of America Corp., which acquired San Francisco-based First Republic through its January 2008 acquisition of Merrill Lynch & Co.
Colony also said it has committed to participate in three new transactions for around $18 million in additional equity investment.
Golf Savings Bank was merged into Sterling Savings Bank on Aug. 2, parent Sterling Financial Corp. reported. Spokane, Wash.-based Sterling Financial said its assets were $9.7 billion at mid-year.
Hermitage, Pa.-based F.N.B. Corp. which has $8.8 billion in assets, said last week it would acquire Comm Bancorp Inc. in a $70 million stock-and-cash transaction. Comm is based in Clarks Summit, Pa., and has $0.6 billion in assets. The deal should be done by the fourth quarter.
In Richmond, Va., Union First Market Bankshares Corp. recently disclosed that it would integrate subsidiaries Northern Neck State Bank and Rappahannock National Bank into Union First Market Bank on Oct. 12. Union First was created from the merger of Union Bank and Trust Co. and First Market Bank. Assets stood at $3.9 billion on June 30.
TownBank, a $3.7 billion institution based in Suffolk, Va., announced last month an agreement to acquire $173 million in assets from The Bank of Currituck in North Carolina, including around $96 million in performing loans. The deal also includes the acquisition of all of the company’s $173 million in deposits and six banking office. The Bank of Currituck will receive $10 million in cash.
TownBank expects to close this fall on the deal, which is subject to approval by regulators and The Bank of Currituck’s shareholders. The Bank of Currituck will cease operation as a commercial bank after the sale and wind down within three years.
The recent acquisition of First Keystone Financial Inc. by Bryn Mawr Bank Corp. brings assets to $1.7 billion, a press release said. The $32 million transaction was 85 percent stock and 15 percent cash, the Bryn Mawr, Pa.-based company said. First Keystone has $0.5 billion in assets and is expected to be converted by the end of this month.
The Federal Reserve Board reported that it received the following applications pursuant to the Bank Holding Company Act of 1956 to become a bank-holding company or acquire assets or control of a bank-holding company. The table also includes Fed applications for permission to acquire firms that engage in nonbanking activities and a mergers applications reported by the Office of Thrift Supervision.
|A.N.B. Holding Company Ltd.||The ANB Corp., The American National Bank of Texas, Lakeside Bancshares Inc., Lakeside National Bank||Federal Reserve Bank of Dallas||Acquire up to 32% of voting shares.|
|The Adirondack Trust Company Employee Stock Ownership Trust||Broadway Holding Corp., The Adirondack Trust Co.||Federal Reserve Bank of New York||Acquire and retain additional voting shares.|
|Allcorp Inc.||Community State Bancshares Inc., Community State Bank||Federal Reserve Bank of St. Louis||Become bank-holding company by acquiring 100%.|
|Anderson, Richard G., individually, and as part of a group acting in concert with Dick and Margaret Anderson, FLP; Dick Anderson Construction Inc.; Dick Anderson Construction Profit Sharing Plan & Trust; MA Construction Inc., (fka MAC Equipment Rental); Margaret F. Anderson; Norma J. Anderson; and David L. Anderson||Mountain West Financial Corp., Mountain West Bank, National Association||Federal Reserve Bank of Minneapolis||Acquire and retain control.|
|Austin Bancorp Inc.; JSA Family Limited Partnership; Jane Austin Chapman Limited Partnership L.P.; TEB Inc.||Frankston Bancorp Inc., FDB Inc., First State Bank||Federal Reserve Bank of Dallas||Merge.|
|BancFirst Corp.||Union National Bancshares Inc., Union Bank of Chandler||Federal Reserve Bank of Kansas City||Merge.|
|The Bannister Bancshares Irrevocable Trust dated May 21, 2010, and Peter J. Fiene, as Trustee||Bannister Bancshares Inc., Union Bank||Federal Reserve Bank of Kansas City||Acquire control.|
|The Beach Immediate Family, consisting of Charles Beach III, Charles Beach IV, Taylor Beach Moloney||Genbeach Company Inc., Peoples Exchange Bank of Beattyville Inc.||Federal Reserve Bank of Cleveland||Acquire voting shares.|
|Betty J. Bradshaw 2000 Irrevocable Trust dated 10/30/00-Charles M. Shea, Trustee||First Community Bancshares Corp., First Community Bank||Federal Reserve Bank of Chicago||Acquire control.|
|Busse, Keith E., as an individual; Keith E. Busse; Busse Family Investment Company, LLC; Aaron R. Busse; Dawn R. Zimmerman; Michael S. Busse; Angie S. Weidler; Christopher K. Busse, as co-managers of the Busse Family Investment Company LLC, as a group acting in concert||Tower Financial Corp., Tower Bank & Trust Co.||Federal Reserve Bank of Chicago||Acquire voting shares.|
|C-B-G Inc.||Washington Bancorp, Federation Bank||Federal Reserve Bank of Chicago||Acquire additional shares for a total of up to 50.01%.|
|CapGen Capital Group VI LLC, CapGen Capital Group VI LP||Hampton Roads Bankshares Inc., Bank of Hampton Roads, Shore Bank||Federal Reserve Bank of Richmond||Become bank-holding companies by acquiring up to 49.9% of voting shares.|
|Charles Investment Group LLC.||Americus Financial Services Inc., Red Mountain Bank, N.A.||Federal Reserve Bank of Atlanta||Become bank-holding company by acquiring approximately 75% of voting shares.|
|China Investment Corp.||Morgan Stanley, Morgan Stanley Capital Management LLC, Morgan Stanley Domestic Holdings Inc.||Federal Reserve Bank of New York||Acquire at least 5% of voting shares.|
|Chuy Ng, John Kim||Oceanic Holding (BVI) Limited, Oceanic Bank Holdings Inc., Oceanic Bank||Federal Reserve Bank of San Francisco||Acquire voting shares.|
|City Holding Co.||First United Corp., First United Bank & Trust||Federal Reserve Board||Approval to increase its ownership interest from 4.9% to 7.5% of voting shares.|
|Community Bancshares Inc.||BEO Bancorp, Bank of Eastern Oregon||Federal Reserve Bank of San Francisco||Acquire at least 100% of voting shares.|
|Community Trust Bancorp Inc.||LaFollette First National Corp., First National Bank of LaFollette||Federal Reserve Bank of Cleveland||Merge.|
|Emigrant Bancorp Inc., New York Private Bank & Trust, FSB||na||Federal Reserve Bank of New York||Convert federal savings bank subsidiary into a trust company named New York Private Trust Co., and thereby engage de novo in trust company activities.|
|First American Financial Management Co.||Community Bank of Rowan||Federal Reserve Bank of Richmond||Become bank-holding company by acquiring 51% of voting shares.|
|First City Fund Corp., First Community Bancorp Inc.||Start Community Bank, (formerly known as First Community Bank of New Haven)||Federal Reserve Bank of Boston||Become bank-holding companies by acquiring 100% of voting shares.|
|First Exchange Bank 401(k) Employee Stock Ownership Plan, individually and as a member of a group consisting of William Goetell and Jennifer Price, acting in concert||Heritage Bancshares Inc., First Exchange Bank||Federal Reserve Bank of Richmond||Retain control.|
|First Holding Company of Park River Inc., Sheyenne Bancorp Inc.||First Sharon Holding Company Inc., First State Bank of Sharon||Federal Reserve Bank of Minneapolis||Establish a wholly owned subsidiary that is applying to be a bank-holding company and acquire 100% of voting shares.|
|First National Financial Group Inc.||The First National Bank of Shelby||Federal Reserve Bank of Richmond||Become bank-holding company by acquiring 100% of voting shares.|
|First Peoples Bancorp Inc.||First Peoples Bank of Tennessee||Federal Reserve Bank of Atlanta||Become bank-holding company by acquiring 100% of voting shares.|
|First Southern Bancorp Inc.||CKF Bancorp Inc., Central Kentucky Federal Savings Bank||Federal Reserve Bank of Cleveland||Acquire up to 24.99% of voting shares.|
|FRB Investments Inc.||Omega Capital Corp., Front Range Bank||Federal Reserve Bank of Kansas City||Become a bank-holding company by acquiring 100% of voting shares.|
|Harbor Bancorp Inc.||West Town Savings Bank||Federal Reserve Bank of Chicago||Become bank-holding company by acquiring 100% of voting shares.|
|Independent Bank Group Inc.||First Bank||Federal Reserve Bank of Dallas||Merge.|
|Industry Bancshares Inc.||First National Bank of Shiner||Federal Reserve Bank of Dallas||Acquire 100% of voting shares.|
|Jacobson, Sandra and Jule. In addition, Edward and Lois Angvick, as a group acting in concert, have also applied to acquire voting shares.||Treasure Bancorp Inc., Montana State Bank||Federal Reserve Bank of Minneapolis||Acquire voting shares.|
|Kirkwood Bancorporation Co., Kirkwood Bancorporation of Nevada Inc., Savings Bank||Eagle Valley Bank, National Association||Federal Reserve Bank of Minneapolis||Acquire 94.89% of voting shares.|
|Kirschoff, Bart R, individually; Kim A. Kirchoff, both as members of the Kirchoff family group||Great Plains Bancshares Inc., Great Plains National Bank||Federal Reserve Bank of Kansas City||Retain control.|
|LeMaitre, Yvonne, co–trustee of Bolton Family Trust Inc.||Merchants Holding Co., Merchants National Bank of Sacramento||Federal Reserve Bank of San Francisco||Retain voting shares.|
|Lewis. Paul Bennett||Fidelity Holding Co., Fidelity Bank||Federal Reserve Bank of Minneapolis||Become co-trustee of the 2004 Children’s Trust, 2004 Grandchildren’s Trust, and 2005 Grandchildren’s Trust to gain control.|
|M and P Community Bancshares Inc. 401(k) Employee Stock Ownership Plan||M and P Community Bancshares Inc., Merchants and Planters Bank||Federal Reserve Bank of St. Louis||Acquire additional shares for a total of up to 32% of voting shares.|
|Madison Square Federal Savings Bank||na||OTS||Approval to convert to stock form of organization.|
|Manhattan Banking Corp.||Sonoran Bank, N.A.||Federal Reserve Bank of Kansas City||Acquire 48.0%, for a total of 53.9%, of voting shares.|
|Manhattan Banking Corp.||Sonoran Bank, N.A.||Federal Reserve Bank of Kansas City||Acquire additional 4.05%, for total of 9.9%, of voting shares.|
|Mican, John D., Robert E. Berryhill, Tammy L. Goertz, Dianna L. Kana, individually and collectively as co-trustees of the Bastrop Bancshares Inc. Employee Stock Ownership Plan and on behalf of ESOP||Bastrop Bancshares Inc.||Federal Reserve Bank of Dallas||Acquire voting shares.|
|Morten, Margaret||Vision Bancshares Inc., Vision Bank||Federal Reserve Bank of Minneapolis||Acquire and retain control.|
|Murray, Kenneth Richard||Naples Bancorp Inc., Bank of Naples||Federal Reserve Bank of Atlanta||Retain voting shares.|
|NBH Holdings Corp.||Bank Midwest, National Association||Federal Reserve Bank of Boston||Become bank-holding company by acquiring 100% of voting shares.|
|North American Financial Holdings Inc.||TIB Financial Corp., TIB Bank||Federal Reserve Bank of Atlanta||Acquire up to 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; James J. Lynch,xch||Palmetto Bancshares Inc., The Palmetto Bank||Federal Reserve Bank of Philadelphia||Acquire voting shares.|
|Peeples, Shelby Cicero Jr.||First Bank of Dalton||Federal Reserve Bank of Atlanta||Acquire additional voting shares.|
|Peeples, Shelby C. Jr., and Willena Peeples, W. Bryan Peeples, Amy L. Peeples, G. Thomas Peeples, Garrett T. Peeples Trust, with G. Thomas Peeples as trustee, Vickie D. Peeples; Jane Stanfield, Syndi Peeples Paris, Michelle Stanfield Evans, John P. Neal III, as trustee for Asa Wallace Peeples Trust, Chapman D. Peeples Trust, Rhett Shelby Peeples Trust, Ellys Allene Peeples Trust, Gage W. Peeples Trust, Garrett T. Peeples Trust, Lily L. Peeples Trust, Syndi M. Peeples Trust, W. Michelle Stanfield Evans Trust||FBD Holding Company Inc., First Bank of Dalton||Federal Reserve Bank of Atlanta||Retain voting shares.|
|Premier Commerce Bancorp Inc.||G.R. Bancorp Ltd., The First National Bank of Grand Ridge||Fed||Approval of proposal to acquire.|
|RBB Bancorp||Royal Business Bank||Federal Reserve Bank of San Francisco||Become bank-holding company by acquiring 100% of voting shares.|
|Roy, Anthony Jennings III||Mansura Bancshares Inc., The Cottonport Bank||Federal Reserve Bank of Atlanta||Retain voting shares.|
|Shackelford, George J.||Peoples Commerce Corp., Peoples Bank and Trust Co.||Federal Reserve Bank of St. Louis||Acquire additional voting shares.|
|Simmons,Cecil R., individually; and as a member of a group including Leonard P. Simmons; Anita Simmons Boswell,and Michael Scott; Cecil R. Simmons and Juana Simmons; Anita Simmons Boswell; Sarah Simmons Hays; and Dolores Simmons (the ‘‘Cecil Simmons Family Group’’); and Leonard P. Simmons and Mary Beth Simmons; Delores M. Simmons; Ricardo Leal; Audrey Simmons Hooks; Samuel Simmons and Ernest Nash III (the ‘‘Leonard Simmons Family Group’’), each as a group acting in concert||First San Benito Bancshares Corp., Community Bank, National Association||Federal Reserve Bank of Dallas||Acquire control.|
|Smiley, Scott L.||First Norton Corp., First Security Bank & Trust Co.||Federal Reserve Bank of Kansas City||Acquire control.|
|Smith, Mark Van||First Citizens Bankshares Inc., First Citizens Bank||Federal Reserve Bank of Atlanta||Acquire additional voting shares.|
|Southeastern Bank Financial Corp.||Southern Bank & Trust||Federal Reserve Bank of Atlanta||Acquire 100% of voting shares.|
|Specialty Bancor Inc.||Community State Bank||Federal Reserve Bank of Dallas||Become bank-holding company by acquiring 100% of voting shares.|
|Standard Financial Corp.||Standard Bank, PaSB||Federal Reserve Bank of Cleveland||Become bank-holding company by acquiring 100% of voting shares.|
|Thakkar, Chittranjan Kashavji||Hometown Community Bancshares Inc., Hometown Community Bank||Federal Reserve Bank of Atlanta||Acquire additional voting shares.|
|The Toronto-Dominion Bank, TD US P & C Holdings ULC, TD Bank US Holding Co.||The South Financial Group Inc., Carolina First Bank||Federal Reserve Board||Approval of application to acquire.|
|Tippmann, John V. Sr., as an individual; John V. Tippmann Sr.; John and Helen McCarthy; Richard and Sally Ley; John Tippmann Jr.; Patrick Tippmann; and Brian and Jennifer Backstrom, as a group acting in concert||Tower Financial Corp., Tower Bank & Trust Co.||Federal Reserve Bank of Chicago||Acquire voting shares.|
|USAmeriBancorp Inc.||Aliant Financial Corp., Aliant Bank||Federal Reserve Bank of Atlanta||Acquire at least 50% of voting shares.|
|Valcourt, Jeffrey T., JNV Limited Partnership, II, and JNV Limited Partnership, III, acting in concert||United Financial Banking Companies Inc., The Business Bank||Federal Reserve Bank of Richmond||Acquire voting shares.|
|Western Investment Group LLC, Western Bancshares Inc.||Curtis Bancorporation Inc., Curtis State Bank||Federal Reserve Bank of Kansas City||Become bank-holding companies by acquiring 100% of voting shares|
|Williams, Richard Earl Jr., individually and as Trustee of the Richard E. Williams Exempt Trust; Debora Evans, individually and as Trustee of the Debora Evans Exempt Trust; Richard Earl Williams Jr. and Debora Evans as co–Trustees of (i) the Williams Family Exempt Trust, (ii) the Victoria Grace Williams Special Trust, (iii) the Thomas Joseph Evans 2002 Trust and (iv) the Elizabeth Ashton Williams 2002 Trust; and Richard E Williams Jr., Debora Evans and the above named trusts, collectively (the ‘‘Williams Family Group’’)||Cameron Financial Corp., Classic Bank, N.A.||Federal Reserve Bank of Dallas||Retain voting shares.|
|WLR SBI Acquisition Company LLC; WL Ross & Co. LLC; WLR Recovery Fund IV L.P.; WLR IV Parallel ESC L.P.; Invesco North America Holdings Inc.; Invesco WLR IV Associates LLC; WLR Recovery Associates IV LLC; WL Ross Group L.P.; and EL Vedado LLC; Wilbur L. Ross Jr.; Invesco Ltd.; IVZ Inc.; Invesco Group Services Inc.; Invesco Advisers Inc.; Invesco Private Capital Inc.; Invesco Holding Company Limited; Invesco AIM Management Group Inc.||Sun Bancorp Inc., Sun National Bank||Federal Reserve Bank of Philadelphia||Acquire voting shares.|
|Woori Finance Holdings Co. Ltd||Hanmi Financial Corp., Hanmi Bank||Federal Reserve Bank of New York||Acquire at least 51% of voting shares.|
|WVS Financial Corp. Employee Stock Ownership Plan, Jonathan D. Hoover, sole trustee||WVS Financial Corp., West View Savings Bank||Federal Reserve Bank of Cleveland||Retain and acquire additional voting shares.|