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Stephen A. Rhoades, "Bank Mergers and Industrywide Structure, 1980–1994," Washington: Board of Governors of the Federal Reanuary 1996. (Staff study 169) Steven J. Pilloff, "Bank Merger Activity in the United States, 1994–2003," Washington: Board of Governors of the Federal Reserve System, May 2004. (Staff study 176)
CoreStates Financial Corporation, previously known as Philadelphia National Bank (PNB), was an American bank holding company in the Philadelphia, Pennsylvania, metropolitan area. The bank was renamed in the mid-1980s after a series of mergers.
Laredo National Bank was a wholly owned subsidiary of Banco Bilbao Vizcaya Argentaria (BBVA), a multinational Spanish banking group. BBVA has a major presence in the main Texas market and principal cities with Laredo National Bank, Texas State Bank, and State National all of which were merged and had their names changed to BBVA Compass Bank.
The Federal Deposit Insurance Corporation (FDIC) may assume deposits of banks or allow other banks to assume them. The largest banks to be acquired have been the Merrill Lynch acquisition by Bank of America, the Bear Stearns and Washington Mutual acquisitions by JPMorgan Chase, and the Countrywide Financial acquisition also by Bank of America.
Texas State Bank opened its first branch in 1991. The bank operated in Shelby, Angelina, and Tyler Counties. The bank was purchased by Banco Bilbao Vizcaya Argentaria along with State National Bank for $2.6 billion USD in 2006. [1] In 2019, the bank merged with American State Bank, with American State Bank being the successor of the merger. [2]
The bank's first acquisition out of state was the failing First National Bank of Crosby, Texas in February 1987. Central Bancshares became the first bank in Alabama to own a bank in another state and the first out-of-state bank to own a bank in Texas. [1] D. Paul Jones took over the CEO position from Brock in 1991. [6]
In 1928 the regulations changed, allowing the state-chartered Republic Trust and Savings Bank to be merged back into the parent company, forming the Republic National Bank and Trust Company. [1] During the next decade Republic acquired North Texas National Bank, and invested in several other Texas banks during the banking crisis of 1933. In ...
PNB and Girard Trust Corn Exchange Bank, which were respectively the second- and the third-largest of the 42 commercial banks with head offices in the Philadelphia metropolitan area, proposed to merge. PNB had assets of over $1 billion, making it the 21st-largest bank in the nation. Girard had assets of about $750 million.