DOCSLIB.ORG

Subsidiary Banks of Bank Holding Companies

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Subsidiary Banks of Bank Holding Companies SUBSIDIARY BANKS OF BANK HOLDING COMPANIES December 31, 1970 NOTE: Holding companies referred to are as defined in the Bank Holding Company Act of 1956, as amended, but do not include companies that became bank holding companies as a result of "Bank Holding Company Act Amendments of 1970," approved December 31, 1970. Where two or more bank holding companies are shown for the same group of subsidiary banks, the holding company listed first controls the other holding companies and subsidiary banks# NAME AND LOCATION OF BANK HOLDING COMPANY Total Deposits Number of (in thousands Name and location of subsidiary bank offices 3/ of dollars) State FIRST ARKANSAS BANK STOCK CORPORATION. LITTLE ROCK. ARKANSAS Arkansas Arkansas First National Bank, Hot Springs 5 43,152 Worthen Bank & Trust Co*, Little Rock 10 204,345 Total — Arkansas 15 247,497 WESTERN BANCORPORATION. LOS ANGELES. CALIFORNIA Arizona First National Bank of Arizona, Phoenix 96 930,475 Southern Arizona Bank & Trust Co*, Tucson 20 235,849 Total - Arizona 116 1,166,324 California United California Bank, Los Angeles 236 3.854.227 Colorado American National Bank, Denver 1 130,853 Continental National Bank, Englewood 2 36,272 First National Bank, Fort Collins 2 54,404 Total - Colorado 5 221,529 Idaho Bank of Idaho, Boise 24 161,851 Montana Bank of Glacier County, Cut Bank 1 10,065 Montana Bank, Great Falls 1 35,227 Conrad National Bank, Kalispell 1 34,038 Total - Montana 2 79,330 Nevada Bank of Nevada, Las Vegas 11 141,376 First National Bank of Nevada, Reno 34 579,234 Total — Nevada 45 720,610 .(-HI NAME AND LOCATION OF BANK HOLDING COMPANY Total Deposits Number of (in thousands Name and location of subsidiary bank offices 2/ of dollars) State WESTERN BANCORPQRATION, LOS ANGELES, CALIFORNIA (continued) New Mexico Bank of New Mexico, Albuquerque 10 104,646 First State Bank, Gallup 4 21,621 New Mexico Bank & Trust Co*, Hobbs 6 38,426 Roswell State Bank, Roswell 4 18,789 Santa Fe National Bank, Santa Ps _3 30,472 Total — New Mexico 27 213,954 Oregon First National Bank of Oregon, Portland 120 1,713,932 Utah Walker Bank & Trust Co*, Salt Lake City 20 296,301 Washington Pacific Bank of Washington, Seattle 60 659,058 Wyoming First National Bank, Casper 1 73,542 First National Bank, Laramie 1 32,509 First National Bank, Riverton 1 18,101 Total - Wyoming 3 124,152 Total — Eleven States 659 9,211,268 CENTRAL BANKING SYSTEM, INC., OAKLAND, CALIFORNIA California Peninsula National Bank, Burlingame 12,587 Bank of Fairfield, Fairfield 2,307 First National Bank, Fresno 22,494 Livermore National Bank, Livermone 7,237 Central Valley National Bank, Oakland 231,411 Tahoe National Bank, South Lake Tahoe _2 6,606 Total - California 40 282,642 AFFILIATED BANKSHARES OF COLORADO. INC., BOULDER, COLORADO Colorado Farmers National Bank, Ault 1 6,220 Arapahoe National Bank, Boulder 1 6,957 First National Bank, Boulder 1 68,309 First National Bank, Colorado Springs 1 104,210 Fort Carson National Bank, Fort Carson 1 4,891 Cache National Bank, Greeley 1 7,738 Greeley National Bank, Greeley 1 43,734 West Greeley National Bank, Greeley 1 3,558 First National Bank, Lafayette 1 3,904 First National Bank, Louisville 1 3,508 First National Bank, Love land 1 25,434 West lake First National Bank, Love land 1 3,718 -3- NAME AND LOCATION OF BANK HOLDING COMPANY Total Deposits Number of (in thousands Name and location of subsidiary bank offices l/ of dollars) State AFFILIATED BANK SHARKS OF COLORADO, INC., BOULDER. COLORADO (continued) Colorado Bank of Manitou, Manitou Springs 1 3.662 Total — Colorado 13 CENTRAL COLORADO BANCORP, INC., COLORADO SPRINGS, COLORADO Colorado Academy Boulevard Bank, Colorado Springs 1 6,903 Central Colorado Bank, Colorado Springs 1 30,544 Rocky Ford National Bank, Rocky Ford 1 5,426 Total — Colorado 42,873 COLORADO RATIONAL BANKSHARES. INC., DENVER, COLORADO 2/ Colorado Colorado National Bank of Denver, Denver 1 282,437 Northeast Colorado National Bank of Denver, Denver 2 10,829 South Colorado National Bank, Denver 1 5,545 Lakeirood Colorado National Bank, Lakenood 1 10,011 Total — Colorado 5 308^822 THE FIRST NATIONAL BANCORPORATION, INC.. DENVER. COIORADO Colorado First National Bank of Southglenn, Arapahoe County 1 7,322 First Natioeal Bank of Bear Wiley, Denver 1 12,481 First National Bank of Denver, Denver 1 560,379 First National Bank, North Glenn 1 9.451 Total - Colorado 569,633 UNITED BANKS OF COLORADO. INC.. DENVER. COIORADO Colorado 14,606 United Bank of Aurora, Aurora 25,536 United Bank of Boulder, Boulder 482,441 United Bank of Denver, N.A., Denver United Bank of Fort Collins, N.A., Fort Collins 40,188 7,686 Mesa National Bank, Grand Junction 27,371 United Bank of Greeley, Greeley 7,569 United Bank of Lakewood, N.A., lakewood 16,825 United Bank of Littleton, Littleton 19,542 United Bank of Pueblo, Pueblo 641.764 Total — Colorado NAME AND LOCATION OF BANK HOLDING COMPANY Total Deposits Number of (in thousands Name and location of subsidiary bank offices 1/ of dollars) State FIRST COLORADO BANKSHARES, INC., LITTLETON. COLORADO Colorado Security National Bank, Denver 1 29,391 University National Bank, Denver 1 27,408 First National Bank, Englewood 2 64,316 Lakeside National Bank, Wheat Ridge 1 25,093 Total - Colorado 146,208 FIRST CONNECTICUT BANCORP. INC.. HARTFORD, CONNECTICUT Connecticut United Bank & Trust Co., Hartford 17 95,280 New Britain National Bank, New Britain 6 58,905 Sims bury Bank & Trust Co*, Sims bury _4 29,488 Total — Connecticut 27 183,673 FINANCIAL GENERAL BANKSHARES, INC.. WASHINGTON, D.C. THE MORRIS PLAN CORPORATION. NEW YORK. NEW YORK District of Columbia First National Bank, Washington, D.C* 9 116,766 Union Trust Company of the District of Columbia _6 207,993 Total — District of Columbia 15 324,759 Georgia National Bank of Geoz*giaf Atlanta 13 137,729 Maryland Bank of Criafield, Crisfield 3 11,087 Citizens National Bank, Pocomoke City 1 8,726 American National Bank of Maryland, Silver Spring 16 123,761 Chesapeake National Bank, Tows on _2 16,061 Total — Maryland 22 159,635 New York Community State Bank, Albany * 6 35,882 Bank of Buffalo, Buffalo * 10 101,642 Bank of Commerce, New York • 16 176,498 Total - New York 32 314,022 Tennessee Valley Fidelity Bank & Trust Co., Knoxville 68,187 -5- NAME AND LOCATION OF BANK HOLDING COMPANY Total Deposits Number of (in thousands Name and location of subsidiary bank offices 1/ of dollars) State FINANCIAL GENERAL BANK SHARES, INC,, WASHINGTON, D.C. (continued) THE MORRIS PLAN CORPORATION, NEW YORK. NEW YORK (continued) Virginia Alexandria National Bank, Alexandria 8 71,522 Clarendon Trust Co., Arlington • 8 100,482 Peoples Bank, Buena Vista 1 4,116 Valley National Bank, Harrisonburg 3 19,879 Arlington Trust Company, Inc*, Herndon 10 124,680 Peoples National Bank, Leesburg ** 3 18,735 First National Bank, Lexington 2 6,383 Round Hill National Bank, Round Hill 1 9,932 Shenandoah Valley National Bank, Winchester _4 28,807 Total - Virginia 40 384,536 Total - Five States and the District of Columbia 129 1*388*868 • AH three banks are also subsidiaries of Empire Shares Corporation, New York, New York, a wholly-owned subsidiary of The Morris Plan Corporation, New York, New York# *• Subsidiary of Financial General Banks ha res, Inc., Washington, D.C., only. FIRST BANCSHARES OF FLORIDA, INC., BOCA RATON, FLORIDA Florida First Bank & Trust Company of Boca Raton, N.A., Boca Raton 1 63,050 University National Bank of Boca Raton, Boca Raton 1 15,753 First National Bank & Trust Co#, Riviera Beach 1 32,276 Citizens Bank of Palm Beach County, West Palm Beach 1 17,021 Total - Florida 128,100 UNITED BANCSHARES OF FLORIDA, INC., CORAL GABLES, FLORIDA Florida Coral Gables First National Bank, Coral Gables 90,543 United National Bank, Miami 43,027 United National Bank of Dade land, Miami 10,031 Miami Beach First National Bank, Miami Beach 186,203 Security Exchange Bank, West Palm Beach 30,287 Total - Florida 360,091 BROWARD BANCSHARES. INC., FORT LAUDERDALE. FLORIDA Florida Broward National Bank, Fort Lauderdale 1 126,003 Coral Ridge National Bank, Fort Lauderdale 1 57,923 Fort Lauderdale National Bank, Fort Lauderdale 1 61,585 Total — Florida 245,511 NAME AND LOCATION OF BANK HOLDING COMPANY Total Deposits Number of (in thousands Name and location of subsidiary bank offices \J of dollars) State CITIZENS BANCSHARES OF FLORIDA, INC.. HOLLYWOOD. FLORIDA Florida Citizens National Bank of Miami, Dade County 1 13,194 Citizens National Bank, Davie 1 4,956 Citizens National Bank of West Hollywood, Hollywood 1 48,403 Citizens National Bank, Hollywood 1 22.052 Total — Florida 86,605 ATIANTIC BANCOHPORATION. JACKSONVILLE. FLORIDA Florida First Atlantic National Bank, Daytona Beach 36,692 Westside Atlantic Sank, Daytona Beach 6,561 First National Bank, Gainesville 47,672 Hastings Exchange Bank, Hastings 4,351 Atlantic National Bank, Jacksonville 283,728 Lake Forest Atlantic Bank, Jacksonville 19,806 Normandy Atlantic Bank, Jacksonville 3,508 Southside Atlantic Bank, Jacksonville 14,390 Springfield Atlantic Bank, Jacksonville 46,526 Westside Atlantic Bank, Jacksonville 17,358 Lake Wales Bank & Trust, Lake Wales 19,310 Atlantic Bank, Orlando 3,862 Palatka Atlantic National Bank, Palatka 21,740 Exchange Bank of St. Augustine, St# Augustine 22,932 San ford Atlantic National Bank, Sanford 20,710 Atlantic National Bank, West Palm Beach 64,626 Atlantic National Bank, Winter Park 11,930 Total - Florida 18 645,702 BARNETT BANKS OF FLORIDA. INC.. JACKSONVILLE. FLORIDA Florida City National Bank & Trust Co#, Clearwater 38,224 Bamett First National Bank, Cocoa 33,481 Bamett First National Bank, DeLand 37,577 Bamett First National Bank, Jacksonville 206,873 Murray Hill Bamett Bank, Jacksonville 32,731 Regency Square Bamett Bank, Jacksonville 6,350 San Jose Bamett Bank, Jacksonville 12,713 Monroe & Chambliss National Bank of Ooala, Ocala 27,142 Munroe & Chambliss National Bank of East Ocala, Ocala 5,159 First Bank & Trust Co., Pensaoola 38,606 Bamett Bank of Anastasia Island, St.
Load more

Recommended publications
  • Annual Report 1980
    Annual Report 1980 The Depository• Trust Company The ability of Depository Trust to conduct its activities rests largely on modern computer technology, reflecting a long chain of developments in several disciplines. Automated calculating and recordkeeping are the essence of DTC's book-entry capability. Telecommunications devices facilitate the flow of information among Participants, transfer agents, and others throughout the financial community. The ability to utilize minute intervals of time permits computers to operate in billionths of a second. The illustrations in this report depict historical developments in each of these disciplines. The graphic theme and appearance of this Annual Report were conceived by David S. Jobrack, Executive Assistant to the Chairman, who also acted as Creative Director throughout the production process, and wrote, edited and/or compiled the text, illustrations and captions. 1980 Annual Report Highlights. 2 Computer Communications A Message from Management. ..... 3 Facility (CCF) . 28 History, Ownership and Policies. ....... 4 Other Automation Developments .... 28 Growth in 1980 .... 6 Interfaces in a National Clearance and Settlement System .. ....... 30 Eligible Issues. .8 Municipal Bond Program ..... 8 Protection for Participants' Securities ..... 32 Outlook for Institutional Use. 10 Officers and Directors of The Institutional Delivery (ID) Depository Trust Company.. 38 System. 14 1980 in Retrospect . .40 Basic Services 16 Financial Statements. ............ 46 Fast Automated Securities Participants. 54 Transfer (FAST) .' 17 Stockholders. ........ 56 Ancillary Services. 20 Depository Facilities ... 56 ...... 20 Dividends Pledgees .............. 57 Voting Rights. 21 Banks Reported to be Participating in Other Ancillary Services. 22 the Depository on an Indirect Basis 57 The Automation of Depository Services. 26 Investment Companies Reported Participant Terminal System (PTS).
    [Show full text]
  • CRA Decision #111 April 2002
    O Comptroller of the Currency Administrator of National Banks 250 E Street, S.W. Washington, DC 20219 CRA Decision #111 March 1, 2002 April 2002 OCC Control Nr. 2002-ML-02-0001 Ms. Courtney D. Allison Assistant General Counsel Legal Division First Union National Bank 301 South College Street (NC0630) Charlotte, North Carolina 28288-0630 Dear Ms. Allison: This is to inform you that on this date, the Office of the Comptroller of the Currency (OCC) has granted final approval for the application to merge Wachovia Bank, National Association, Winston-Salem, North Carolina (“Wachovia") into and under the charter of First Union National Bank, Charlotte, North Carolina (“First Union”) with the resulting bank titled Wachovia Bank, National Association. This approval was granted based on a thorough review of all information available, including commitments and representations made in the application and those of First Union's representatives. In reaching our decision on this application, the following factors were considered: A. Community Reinvestment Act The Community Reinvestment Act (“CRA”) requires the OCC to take into account the applicants’ record of helping to meet the credit needs of their entire communities, including low- and moderate-income neighborhoods, when evaluating certain applications, including merger transactions subject to the Bank Merger Act and conversions involving insured depository institutions. 12 U.S.C. § 2903; 12 C.F.R. § 25.29(a). A review of the record of this application and other information available to the OCC as a result of its regulatory responsibilities revealed no evidence that the applicants’ records of helping to meet the credit needs of their communities, including low- and moderate-income neighborhoods, is less than satisfactory.
    [Show full text]
  • First Union Corporation Securities Litigation 99-CV-00237-Third
    UNITED STATES DISTRICT COURT WESTERN DISTRICT OF NORTH CAROLINA CHARLOTTE DIVISION 3 :99CV237-MC K Clerk, U. S. Dist. Court W. Dist of N. C. IN RE: THE FIRST UNION CORP. ) SECURITIES LITIGATION ) THIRD CONSOLIDATED AND AMENDED CLASS ACTION COMPLAINT TABLE OF CONTENTS Page NATURE OF THE CASE . 2 JURISDICTION AND VENUE . 6 PARTIES . 7 PARTICIPATION OF INDIVIDUAL DEFENDANTS . 9 CONFIDENTIAL SOURCES . 1 0 SUBSTANTIVE ALLEGATIONS . 1 3 A. DEFENDANTS RECKLESSLY IGNORED THE FRAUDULENT PRACTICES AT THE MONEY STORE . 1 3 1 . Defendants Performed Virtually No Due Diligence . 1 3 B. THE "BARCELONA WEEKEND": FIRST UNION EXECUTIVES DISCUSS THE MONEY STORE' S TRUE FINANCIAL CONDITION . 1 6 C . A 1998 INTERNAL AUDIT AT THE MONEY STORE REVEALS ENORMOUS ERROR RATE S IN THE MONEY STORE'S LOAN PORTFOLIO . 1 8 1 . The Results of The Money Store Audit Are Given to First Union . 19 2 . The Money Store's Fraudulent Practices are Detaile d In Written Reports Provided to First Union . 20 D . First Union Is Directly Confronted With The Money Store's Fraud . 22 1 . Concerned Money Store Employees Confront First Union Senior Management . 22 2. Defendants Take No Action to Remedy the Fraudulent Practices . 2 3 E. The Impact of the Money Store's Fraud on First Union . 3 0 1 . The Magnitude of The Money Store's Problems . 3 0 i 2. The August 1998 KPMG Audit . 3 1 3 . The Elimination of Gain-On-Sale Accounting . 33 4. Defendants Receive Documents Describin g Massive Losses at The Money Store . 34 5 . A Written Manual Prepared by First Unio n Details The Money Store's Fraud .
    [Show full text]
  • Corporate Decision #97-96 November 1997
    Comptroller of the Currency Administrator of National Banks Washington, D.C. 20219 Corporate Decision #97-96 November 1997 DECISION OF THE OFFICE OF THE COMPTROLLER OF THE CURRENCY ON THE APPLICATION TO MERGE SIGNET BANK, RICHMOND, VIRGINIA, WITH AND INTO FIRST UNION NATIONAL BANK, CHARLOTTE, NORTH CAROLINA November 9, 1997 _____________________________________________________________________________ I. INTRODUCTION On August 14, 1997, First Union National Bank, Charlotte, North Carolina (FUNB) filed an Application with the Office of the Comptroller of the Currency (OCC) for approval to merge Signet Bank, Richmond, Virginia (Signet) with and into FUNB under FUNB’s charter and title, pursuant to 12 U.S.C. §§ 215a-1, 1828(c), and 1831u (the “Merger Application”). Signet is an insured bank chartered by the state of Virginia, with its main office in Richmond, Virginia, and branches in Virginia, Maryland, and the District of Columbia. FUNB is an insured national bank with its main office in Charlotte, North Carolina. FUNB and Signet are wholly-owned subsidiaries of First Union Corporation (First Union), a registered multibank holding company organized under the laws of North Carolina.1 FUNB currently has branches in Connecticut, Florida, Georgia, South Carolina, Tennessee, Virginia, Maryland, and the District of Columbia. In the Merger Application, OCC approval is also requested for the resulting bank to retain FUNB’S main office as the main office of the resulting bank under 12 U.S.C. § 1831u(d)(1) and to retain FUNB’s branches and Signets’ main office and branches as branches after the merger under 12 U.S.C. §§ 36(d) and 1831u(d)(1).
    [Show full text]
  • Wachovia Corp
    SECURITIES AND EXCHANGE COMMISSION FORM 425 Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions Filing Date: 2001-08-06 SEC Accession No. 0001021408-01-504479 (HTML Version on secdatabase.com) SUBJECT COMPANY WACHOVIA CORP/ NC Mailing Address Business Address 100 NORTH MAIN ST 100 N MAIN ST CIK:774203| IRS No.: 561473727 | State of Incorp.:NC | Fiscal Year End: 1231 P O BOX 3099 P O BOX 3099 Type: 425 | Act: 34 | File No.: 001-09021 | Film No.: 1697821 WINSTON SALEM NC 27101 WINSTON SALEM NC 27101 SIC: 6021 National commercial banks 3367705000 FILED BY FIRST UNION CORP Mailing Address Business Address ONE FIRST UNION CENTER ONE FIRST UNION CTR CIK:36995| IRS No.: 560898180 | State of Incorp.:NC | Fiscal Year End: 1231 CHARLOTTE NC 28288-0013 CHARLOTTE NC 28288-0013 Type: 425 7043746565 SIC: 6021 National commercial banks Copyright © 2012 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Pursuant to Rule 425 under the Securities Act of 1933 Subject Company: Wachovia Corporation Commission File No. 333-59616 Date: August 3, 2001 This filing contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, (i) statements about the benefits of the merger between First Union Corporation and Wachovia Corporation, including future financial and operating results, cost savings, enhanced revenues, and accretion to reported earnings that may be realized from the merger; (ii) statements with respect to First Union's and Wachovia's plans, objectives, expectations and intentions and other statements that are not historical facts; and (iii) other statements identified by words such as "believes", "expects", "anticipates", "estimates", "intends", "plans", "targets", "projects" and similar expressions.
    [Show full text]
  • 1985 0101 NSCCAR.Pdf
    National Securities Clearing Corporation Corporate Office 55 Water Street New York, New York 10041 (212) 510-0400 Boston One Boston Place Boston, Massachusetts 02108 Chicago 135 South LaSalle Street Chicago, Illinois 60603 Cleveland 900 Euclid Avenue Cleveland, Ohio 44101 Dallas Plaza of the Americas TCBTower Dallas, Texas 75201 Denver Dominion Plaza Table of Contents 600 17th Street Denver, Colorado 80202 To NSCC Participants 2 Detroit NSCC Board of Directors 4 3153 Penobscot Building Detroit, Michigan 48226 NSCC Officers 8 Jersey City Introduction 9 One Exchange Place Jersey City, New Jersey 07302 The Year in Review 10 Los Angeles Municipal Bond Program 12 615 South Flower Street Los Angeles, California 9001.7 Fund/SERV 14 Milwaukee Automated Customer Account Transfer Service 16 777 East Wisconsin Avenue Milwaukee, Wisconsin 53202 International Securities Clearing Corporation 18 Minneapolis Audited Financial Statements 20 IDS Center 80 South 8th Street Participating Organizations 26 Minneapolis, Minnesota 55402 New York 55 Water Street New York, New York 10041 St. Louis One Mercantile Tower Cover: 1985 was a year during which NSCC anticipated and St. Louis, Missouri 63101 responded to the expanding needs of the financial services San Francisco industry ... 50 California Street • As marketplace self-regulatory organizations, represented San Francisco, California 94111 here by a New York Stock Exchange Guide/Constitution Toronto and Rules, proposed new rules on broker-dealers' transfer Two First Canadian Place of client accounts, NSCC implemented the Automated Toronto, Ontario, Canada M5X lA9 Customer Account Transfer Service. • While continuing to serve its traditional equity, corporate bond and municipal bond marketplaces, represented by volume charts on the computer screen, NSCC expanded its comparison services to include municipal bond syndi­ cates, when-issued and extended-settlement trades.
    [Show full text]
  • Decade of Holding Company Regulation in Florida
    July 1970 A Decade of Holding Com pany Regulation in Florida The Bank Holding Company Act of 1956 placed was often met through the chartering of new sub­ multibank holding company formation and ex­ urban banks by the stockholders of the com­ pansion within the jurisdiction of the Board of munity’s existing banks. Governors of the Federal Reserve System. By Since 1959 when the Board rendered its first the end of 1969, the Board had handed down 294 decision on a Florida holding company applica­ decisions. These Board decisions did not, however, tion, the holding company form of group bank­ fall evenly throughout the nation. They affected ing has become an important part of the struc­ prim arily those states having unit- or limited tural change in Florida banking. The composi­ branch-banking legislation that typically encour­ tion of Florida banking, therefore, has been ages holding company expansion. Florida is one molded to some extent by the provisions of the of these unit-banking states, and 52 of the Board’s Bank Holding Company Act of 1956 and by decisions affected Florida banks. Only Wisconsin the decisions the Board has made on individual witnessed as much holding company activity dur­ applications under the Act. This article reviews ing the same period. the pattern that has developed during the first ten The holding company is simply one form of years of experience. control over several separately chartered banks. Other forms of control over such a group of Genesis of Florida Holding Companies banks might be maintained through ownership by an individual, a partnership, or by common When Congress passed the Bank Holding Com­ m ajority stockholders.
    [Show full text]
  • School of Economics & Business Administration Master of Science in Management “MERGERS and ACQUISITIONS in the GREEK BANKI
    School of Economics & Business Administration Master of Science in Management “MERGERS AND ACQUISITIONS IN THE GREEK BANKING SECTOR.” Panolis Dimitrios 1102100134 Teti Kondyliana Iliana 1102100002 30th September 2010 Acknowledgements We would like to thank our families for their continuous economic and psychological support and our colleagues in EFG Eurobank Ergasias Bank and Marfin Egnatia Bank for their noteworthy contribution to our research. Last but not least, we would like to thank our academic advisor Dr. Lida Kyrgidou, for her significant assistance and contribution. Panolis Dimitrios Teti Kondyliana Iliana ii Abstract M&As is a phenomenon that first appeared in the beginning of the 20th century, increased during the first decade of the 21st century and is expected to expand in the foreseeable future. The current global crisis is one of the most determining factors affecting M&As‟ expansion. The scope of this dissertation is to examine the M&As that occurred in the Greek banking context, focusing primarily on the managerial dimension associated with the phenomenon, taking employees‟ perspective with regard to M&As into consideration. Two of the largest banks in Greece, EFG EUROBANK ERGASIAS and MARFIN EGNATIA BANK, which have both experienced M&As, serve as the platform for the current study. Our results generate important theoretical and managerial implications and contribute to the applicability of the phenomenon, while providing insight with regard to M&As‟ future within the next years. Keywords: Mergers &Acquisitions, Greek banking sector iii Contents 1. Introduction ................................................................................................................ 1 2. Literature Review .......................................................................................................... 4 2.1 Streams of Research in M&As ................................................................................ 4 2.1.1 The Effect of M&As on banks‟ performance ..................................................
    [Show full text]
  • Staff Study 174
    Board of Governors of the Federal Reserve System Staff Study 174 Bank Mergers and Banking Structure in the United States, 1980–98 Stephen A. Rhoades August 2000 The following list includes all the staff studies published 171. The Cost of Bank Regulation: A Review of the Evidence, since November 1995. Single copies are available free of by Gregory Elliehausen. April 1998. 35 pp. charge from Publications Services, Board of Governors of 172. Using Subordinated Debt as an Instrument of Market the Federal Reserve System, Washington, DC 20551. To be Discipline, by Federal Reserve System Study Group on added to the mailing list or to obtain a list of earlier staff Subordinated Notes and Debentures. December 1999. studies, please contact Publications Services. 69 pp. 168. The Economics of the Private Equity Market, by 173. Improving Public Disclosure in Banking, by Federal George W. Fenn, Nellie Liang, and Stephen Prowse. Reserve System Study Group on Disclosure. November 1995. 69 pp. March 2000. 35 pp. 169. Bank Mergers and Industrywide Structure, 1980–94, 174. Bank Mergers and Banking Structure in the United States, by Stephen A. Rhoades. January 1996. 29 pp. 1980–98, by Stephen A. Rhoades. August 2000. 33 pp. 170. The Cost of Implementing Consumer Financial Regula- tions: An Analysis of Experience with the Truth in Savings Act, by Gregory Elliehausen and Barbara R. Lowrey. December 1997. 17 pp. The staff members of the Board of Governors of the The following paper is summarized in the Bulletin Federal Reserve System and of the Federal Reserve Banks for September 2000. The analyses and conclusions set forth undertake studies that cover a wide range of economic and are those of the author and do not necessarily indicate financial subjects.
    [Show full text]
  • Federal Register / Vol. 60, No. 164 / Thursday, August 24, 1995 / Notices
    44032 Federal Register / Vol. 60, No. 164 / Thursday, August 24, 1995 / Notices Dated: August 18, 1995. (First Fidelity). First Union has applied acquire an additional 1.41 percent, for a James L. Witt, to merge First Fidelity with First total of 11.87 percent, of the voting Director. Union's direct subsidiary, First Union shares of First Bancorporation of [FR Doc. 95±21036 Filed 8±23±95; 8:45 am] Corporation of New Jersey, Newark, Cleveland, Cleveland, Texas, and BILLING CODE 6718±02±M New Jersey. thereby indirectly acquire First Bank & Any comments or requests for hearing Trust, Cleveland, Texas. should be submitted in writing and Board of Governors of the Federal Reserve FEDERAL RESERVE SYSTEM received by William W. Wiles, System, August 18, 1995 Secretary, Board of Governors of the Jennifer J. Johnson, Federal Reserve System, Washington, Banco Santander, S.A.; FFB Deputy Secretary of the Board. Participacoes e Servicos, S.A. D.C. 20551, not later than September 11, [FR Doc. 95±20997 Filed 8±23±95; 8:45 am] Acquisition of Voting Securities of a 1995. Any request for a hearing on this Bank Holding Company proposal must, as required by section BILLING CODE 6210±01±F 262.3(e) of the Board's Rules of Banco Santander, S.A., Madrid, Procedure (12 CFR 262.3(e)), be Carolina Community Bancshares, Inc.; Spain, and its wholly owned subsidiary, accompanied by a statement of the Formation of, Acquisition by, or FFB Participacoes e Servicos, S.A., reasons why a written presentation Merger of Bank Holding Companies Funchal, Portugal (together, Applicant), would not suffice in lieu of a hearing, has applied under sections 3 and 4 of identifying specifically any questions of The company listed in this notice has the Bank Holding Company Act (12 fact that are in dispute, summarizing the U.S.C.
    [Show full text]
  • Why Hire Your Rival? the Case of Bank Debt Underwriting
    Why Hire Your Rival? The Case of Bank Debt Underwriting David A. Becher Rachel E. Gordon Jennifer L. Juergens November 2015 ABSTRACT This paper details the previously undocumented debt underwriting relationship for financial firms. These firms are unique in that they are the only ones capable of underwriting their own securities. Public investment and commercial banks (“banks”) hire a rival in nearly 30% of their debt issuances and do so extensively across bank size, quality, and type. The decision to use a rival is related to expertise, information sharing, as well as bank-specific (capacity, distribution networks, and reputation) motivations and leads to higher fees. Collectively, these results provide new evidence of banks’ underwriter choice and show that banks pervasively hire their rivals. Keywords: Capital markets; debt issuance; banking; investment banks; underwriting JEL Codes: G21; G24; G32; G38 David A. Becher: Drexel University, Department of Finance, 3220 Market Street, Room 1127 and Fellow, Wharton Financial Institutions Center, University of Pennsylvania, Philadelphia, PA 19104, (215) 895-2274, [email protected]. Rachel Gordon, University of Missouri, Department of Finance, 423 Cornell Hall, Columbia, MO 65211, (573) 882-4933, [email protected]. Jennifer L. Juergens: Drexel University, Department of Finance, 3220 Market Street, Room 1128, Philadelphia, PA 19104, (215) 895-2308, [email protected]. We would like to thank Audra Boone, Naveen Daniel, Diane Denis, Casey Dougal, Kathleen Hanley, Michelle Lowry, Greg Nini, Michael Pagano, Ralph Walkling, Josh White, Tina Yang, as well as seminar participants at Drexel University, Lehigh University, Loyola-Marymount University, the U.S. Securities and Exchange Commission, and Villanova University for their helpful comments.
    [Show full text]
  • Behind Miami's Surge in International Banking
    April 1981 Behind Miami's Surge in International Banking Miami's international banking activity has expanded substantially since 1969. Regulatory changes have made the Edge Act corporation a more viable entity. Florida's legal and tax structure has become more accommodating to international financial development. And banking activity with Latin American individuals and nonfinancial firms has surged. In the past two decades, Miami has emerged Edge Act Corporations as one of the new international banking cen- » ters. The move to Miami by major U. S. and foreign banks has been stimulated by both It was not until 1969 that a non-Florida regulatory changes and economic factors. U. S. bank entered the Miami international banking market. In that year, the Georgia- International Banking from Miami: based Citizens and Southern National Bank The Cast of Participants opened the first Edge Act corporation in Miami. Edge Act corporations are restricted to International banking from Miami consists international transactions. Since 1969, 21 of locally based commercial banks, Edge Act more banks have entered Miami's banking corporations set up by out-of-state and market as Edge Act corporations; another 11 foreign banks, and foreign bank agencies and have applications approved or pending (see representative offices. Using June 1980 data, Table 3). transactions with the Caribbean Basin and the rest of Latin America constituted at least half, All New York banks with banking Edges and regularly 80 to 90 percent, of Miami's have or have applied for Miami presence. commercial bank, Edge, and agency activity Four of the six California banks and three of with foreigners.
    [Show full text]