largest openings acquisitions mergers failures

Superior Bank shut
down by FDIC
Wachovia buys
SouthTrust
Regions merges
with AmSouth
• $14.3 billion
in stock
• Moved Wachovia
from 4th to 3rd
largest in U.S.
• 1,700 jobs ended
• $9.8 billion in stock
• Before the deal,
Regions was largest and
AmSouth
was second
• 3,700 jobs lost
in Alabama
and elsewhere
Largest banks
in Alabama
Three new
banks open:
ServisFirst,
Bryant Bank and
SouthPoint Bank
Hancock Bank
of Alabama
opens
• $1.6 billion
• Alabama National was
3rd largest in state
• After, RBC 7th
in nation
openings
acquisitions
mergers
First Lowndes
Bank fails
• $35 million
in assets
• Acquired by First
Citizens Bank
Wells Fargo
acquires Wachovia
failures
• $150 million
• Before: BancTrust
was 4th and
Peoples was 7th
PNC buys RBC
• Largest PNC
acquisition ever
• 400 branches,
78 in Alabama
Hancock acquires
Whitney
• $1.5 billion
Regions sells
Morgan Keegan to
Raymond James
Financial Inc.
• $930 million
sales price
Cadence Bank
acquires assets
of failed
Superior Bank
2010
2009
2008
2007
BancTrust buys
Peoples
• $793 million in
assets when failed
• Acquired by AloStar
Bank of Commerce
• $617 million in assets
• Acquired by
Iberia Bank
New South FSB fails
RBC buys Alabama
National Bancorp
Nexity Bank fails
Capital South Bank
• Acquired by Beal
Bank, Texas
2006
2005
largest
KEY
• Buying all AmSouth
branches would have
given Regions too big
a market share, so 39
branches sold to RBC
• $2.5 billion
estimated price
• Before, RBC was
46th largest in U.S.
• Wells Fargo is
Alabama’s only
coast-to-coast bank
• $15.1 billion
2004
2003
2002
1. SouthTrust $51 billion
2. Regions $45 billion
3. AmSouth $41 billion
4. Compass $24 billion
5. Colonial $16 billion
RBC buys AmSouth
divestments
• $9.6 billion
• Compass was larger than
BBVA before
• BBVA is largest bank
in Spain
• BBVA owns half of one of
Mexico’s biggest banks
• After purchase, BBVA one
of 20 largest in U.S.
BB&T buys Colonial
• Colonial BancGroup
failed with $25.4
billion in assets
• FDIC spent $2.8
billion to cover
Colonial losses
• Largest bank in U.S.
to fail in 2009
• Colonial represents
6th largest bank
failure in history
Largest banks
in Alabama
1. Regions $123 billion
2. BBVA Compass $63 billion
3. Cadence $3.9 billion
4. ServisFirst $2.4 billion
5. BancTrust $2 billion***
***acquired by
Trustmark in May
2012
• Before merger,
UP was Tennessee’s
largest bank
• Largest 2011
bank failure
• $2.9 billion in assets
when failed
• Acquired by Superior Bank
NA, subsidiary of Community
Bancorp of Houston, Texas
Banco Bilbao Vizcaya
Argentaria (BBVA)
buys Compass
2011
Regions merges
with Union
Planters Bank
Trustmark buys
BancTrust
• $55 million
sales price
Alabama Trust
Bank fails
• $51.6 million in
assets
• Acquired by
Southern States
Bank