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Date. Acquiring bank. Acquired bank. Purchase price. Sept. 30, 1998. Bank of America. NationsBank. $62 billion. July 1, 2004. J.P. Morgan Chase. Bank One. $58 billion
First Bank System, Inc. (CNB remained unchanged until after merger with U.S. Bancorp) U.S. Bancorp: 1993 Banc One Corp. Valley National Bank of Arizona: Banc One Corp. JPMorgan Chase: 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
The bank was founded in October 1999 [1] [4] as First Community Bancorp. In March 2002, it acquired Capital Bank of North County. [5] In April 2002, it acquired Upland Bank, with $108 million in assets. [6] In 2005, it acquired Glendora, California–based Foothill Independent Bancorp for $238 million. [7]
With $1.6 billion in assets as of September 30, 2003, after the BB&T purchase of First Virginia Banks, First Community Bancshares was the largest Virginia-based bank holding company. [11] [12] As of April 1, 2004, First Community Bank acquired People's Community Bank of Johnson City, Tennessee, which was a subsidiary of PCB Bancorp, Inc. [13]
In 2017, the bank sold the mortgage business acquired from the purchase of AmTrust at a $90 million profit. [18] In March 2010, Desert Hills Bank of Phoenix, Arizona, with $496 million in assets, was seized by the FDIC and acquired by NYCB. [19] [20] In June 2012, NYCB acquired the assets of Aurora Bank from Lehman Brothers. [21]
In addition, the investment bank Lehman Brothers filed for Chapter 11 bankruptcy protection in September 2008, citing bank debt of $613 billion and $155 billion in bond debt. The solvency of other U.S. banks was severely threatened, forcing the George W. Bush government to intervene with the $700 billion bailout plan of the Troubled Asset ...
In February 2012, the bank agreed to acquire the warehouse finance business of MetLife. [20] [21] In October 2012, EverBank acquired Business Property Lending from GE Capital for $2.4 billion. [22] [23] [24] On June 9, 2017, TIAA acquired the bank; it was later renamed TIAA Bank. [25] [26] [27] [28]
The First Banc Group, Inc. was formed in 1968 as a holding company for City National Bank and was used as a vehicle to acquire other banks. As Ohio began to gradually relax its very restrictive Great Depression era banking laws that had severely restricted bank branching and ownership, City National Bank, through its First Banc Group parent, started to purchase banks outside of its home county.