Mergers & Acquisitions

People’s United Financial Inc. to Acquire BSB Bancorp Inc.

November 28 — Bridgeport, Conn.-based People’s United Financial Inc., the holding company for People’s United Bank, N.A., have announced an agreement to acquire BSB Bancorp Inc., the holding company for Belmont Savings Bank, a state-chartered savings bank headquartered in Belmont, Mass., in a 100 percent stock transaction valued at approximately $327 million. Completion of the transaction is subject to customary closing conditions, including receipt of regulatory approvals and the approval of BSB Bancorp Inc. stockholders.


Peoples Bancorp Inc. and First Prestonsburg Bancshares Inc. Announce Merger

Nov. 1 — Peoples Bancorp Inc. of Marietta, Ohio, parent company of Peoples Bank, and First Prestonsburg Bancshares Inc., the parent company of Kentucky’s First Commonwealth Bank of Prestonsburg Inc., announced today a definitive agreement under which First Prestonsburg will merge with and into Peoples, and First Commonwealth will subsequently merge into Peoples Bank, in a transaction valued at approximately $45.4 million.


OceanFirst Financial to Acquire Capital Bank of New Jersey

Nov. 1 — OceanFirst Financial Corp., parent company of OceanFirst Bank N.A., Red Bank, N.J., and Capital Bank of New Jersey, Vineland, jointly announced a definitive agreement pursuant to which Capital Bank will merge into OceanFirst Bank in an all-stock transaction. The transaction is valued at approximately $31.33 per Capital Bank common share or approximately $80 million in the aggregate (including options) based on OceanFirst’s closing stock price of $25.06 as of Oct. 25.


Dealmaker Optimism Hits Record High in M&A Survey

October 18 — Respondents to Dykema’s 14th Annual M&A Outlook Survey expressed the highest level of optimism for the M&A market seen in the history of the study. Sixty-five percent of respondents expect the M&A market to strengthen over the next 12 months, significantly up from the mid- to high-30s where it has remained for the past several years. The increased optimism is tied to economic conditions, with 64 percent of respondents indicating a positive outlook on the economy during the next 12 months.


M&A at Mid-Year

Values rise, pace quickens from a year ago.

By Bill Poquette, Editor-in-Chief

Maybe it’s the weather. The central part of the country has been sweltering since May, and a couple of big-ticket bank acquisitions in Chicago and Denver seem to suggest a warming-up of merger activity and pricing.


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