News & Updates

The Hovde GroupHovde Group provides a variety of online publications and updates to our clients and investors on a regular basis. These include our Industry Updates, Transaction Alerts, and Monthly Overviews. To sign up to receive our publications via e-mail on a regular basis, please click here.

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News & Updates

  • Community Bank executes agreement to sell to First Farmers Financial

    Published October 1, 2014

    Community Bank - Hoopeston, Illinois has executed a definitive agreement to be acquired by First Farmers Financial Corporation - Converse, Indiana. Hovde Group, LLC served as the exclusive financial advisor to Wellington Bancorp, Inc., and its wholly owned subsidiary, Community Bank.
    view article »
  • First National Bank of Chrisman executes agreement to sell to First Farmers

    Published October 1, 2014

    First National Bank of Chrisman - Chrisman, Illinois has executed a definitive agreement to be acquired by First Farmers Financial Corporation - Converse, Indiana. Hovde Group, LLC served as the exclusive financial advisor to Chrisman Bancorp, Inc., and its wholly owned subsidiary, First National Bank of Chrisman
    view article »
  • United Community Bank executes agreement to sell to First Farmers

    Published October 1, 2014

    United Community Bank - Oakwood, Illinois has executed a definitive agreement to be acquired by First Farmers Financial Corporation - Converse, Indiana. Hovde Group, LLC served as the exclusive financial advisor to Oakwood Bancorp, Inc., and its wholly owned subsidiary, United Community Bank.
    view article »
  • Mackinac Savings Bank executes agreement to sell to Seminole Tribe of Florida

    Published September 30, 2014

    Mackinac Savings Bank - Boynton Beach, FL, has executed a definitive agreement to sell to Seminole Tribe of Florida, Inc., Hollywood, FL. Hovde Group, LLC initiated this transaction and served as exclusive financial advisor to Mackinac Savings Bank.
    view article »
  • AimBank executes P&A to acquire Texas operations of National Bank of Commerce

    Published September 10, 2014

    AimBank - Littlefield, TX has executed a P&A agreement to acquire the Pampa, TX and Shamrock, TX operations of National Bank of Commerce (a division of First National Bank - Waupaca, WI). Hovde Group, LLC served as the exclusive financial advisor to Waupaca Bancorporation, Inc. and its wholly owned subsidiary, First National Bank.
    view article »
  • Stonegate Bank to Acquire Community Bank of Broward

    Published August 25, 2014

    Stonegate Bank (NASDAQ: SGBK) announced today the signing of a definitive agreement by which Stonegate will acquire all the operations of Community Bank of Broward. Hovde Group, LLC initiated this transaction and served as exclusive financial advisor to Community Bank of Broward
    view article »
  • Broward Financial Holdings, Inc. enters agreement to merge with Home BancShares

    Published July 30, 2014

    Broward Financial Holdings, Inc. ‐ Fort Lauderdale, FL, has executed a definitive agreement to merge with and into Home BancShares, Inc. ‐ Conway, AR (NASDAQ: HOMB). Hovde Group, LLC served as financial advisor to Broward Financial Holdings, Inc.
    view article »
  • Eastwood Bank to be acquired by Bremer Bank

    Published July 25, 2014

    Eastwood Bank - Rochester, Minnesota has executed a definitive agreement to be acquired by Bremer Bank, National Association - St. Paul, Minnesota. Hovde Group, LLC served as the exclusive financial advisor to Eastwood Financial Corporation, and its wholly owned subsidiary, Eastwood Bank.
    view article »
  • Olney Bancshares of Texas executes definitive agreement to acquire HBank Texas

    Published July 24, 2014

    Olney Bancshares of Texas, Inc. - Olney, Texas has executed a definitive agreement to acquire HBank Texas - Grapevine, Texas. Hovde Group, LLC served as the exclusive financial advisor to HBank Texas.
    view article »
  • Vantage Bank Texas Signs Definitive Agreement to Merge with D’Hanis State Bank

    Published July 17, 2014

    Vantage Bancorp, a San Antonio based financial holding company, has entered into a Definitive Agreement to merge with Medina Bankshares, the parent company of D’Hanis State Bank. Hovde Group, LLC served as the financial advisor to Vantage Bancorp and Vantage Bank Texas.
    view article »
  • Hovde Expands Capital Markets and Research Platform with Additional Bank Hires

    Published June 18, 2014

    Hovde Group Expands Its Capital Markets and Equity Research Platform with the Addition of Experienced Bank Professionals
    view article »
  • Independent Bank Group to acquire Houston City Bancshares

    Published June 2, 2014

    Independent Bank Group Inc. - McKinney, Texas (NASDAQ: IBTX) has executed a definitive agreement to acquire Houston City Bancshares, Inc. - Houston, Texas. Hovde Group, LLC served as the exclusive financial advisor to to Houston City Bancshares, Inc. and its wholly owned subsidiary, Houston Community Bank, National Association.
    view article »
  • Revival of the Bank IPO

    Published May 29, 2014

    Seven banks have filed for IPOs already this year, putting 2014 on pace to become the most active year for bank IPOs in a decade. What is fueling the increase in bank IPO activity, and is it sustainable? Hovde Group's Andrew Fitzgerald looks at the state of the industry and examines what's driving the recent flurry of activity in a recent article published on BankDirector.com.
    view article »
  • The BANKshares, Inc. enters definitive agreement to merge with Seacoast (SBCF)

    Published April 24, 2014

    The BANKshares, Inc. ‐ Winter Park, FL, has executed a definitive agreement to merge with and into Seacoast Banking Corporation of Florida ‐ Stuart, FL (NASDAQ: SBCF). Hovde Group, LLC initiated this transaction and served as exclusive financial advisor to The BANKshares, Inc.
    view article »
  • Grants State Bank executes P&A with Talmer Bancorp

    Published April 9, 2014

    Grants State Bank (Grants, NM), has executed a purchase and assumption agreement to acquire the Albuquerque operations of Talmer Bancorp, Inc. (Troy, MI). Hovde Group, LLC served as the exclusive financial advisor to Grants State Bank
    view article »
  • Becoming a Successful Acquirer

    Published April 3, 2014

    Now that the banking industry’s asset quality problems are easing, valuations are rising and M&A deal pricing is picking up, many banks may consider jumping into the fray and becoming acquirers. But before they do that, learning from experienced advisors and acquirers would be wise. In a recent article for Bank Director Magazine, Hovde’s Daniel Pake talks about the common elements of successful deals and what to avoid.
    view article »
  • CVB Financial Corp to acquire American Security Bank

    Published February 18, 2014

    Ontario, Calif.-based CVB Financial Corp. ($6.66 billion) and Newport Beach, Calif.-based America Bancshares Inc. ($413.0 million) signed a definitive stock purchase agreement, whereby America Bancshares will sell its subsidiary, American Security Bank, to CVB Financial unit Citizens Business Bank in an all-cash transaction valued at $57.0 million. Hovde Group, LLC served as the exclusive financial advisor to America Bancshares, Inc., and its wholly owned subsidiary, American Security Bank.
    view article »
  • The New Normal: Capital Raising and Basel III

    Published January 6, 2014

    In the January 2014 issue of Wisconsin Banker, Hovde Group’s Andrew Fitzgerald discusses the opportunities and challenges for banks looking to raise capital amid new regulations such as BASEL III.
    view article »
  • Efficiency and Its Impact

    Published December 3, 2013

    Hovde's Joe Morton and Clark Locke discuss the impact of bank efficiency on earnings, M&A valuations, and stock prices in an article featured on BankDirector.com.
    view article »
  • What's Sparking the Trend in Recent 363 Bank Sales?

    Published November 8, 2013

    The financial crisis left behind banks with sufficient capital whose holding companies are effectively bankrupt. In these unique situations, the holding company owns a valuable asset in the subsidiary bank, yet it may owe creditors substantial sums. Such scenarios have sparked an increase in Section 363 sales of banks through the Bankruptcy Code.
    view article »
  • Seacoast (SBCF) Prices $75 million Registered Direct Public Offering

    Published November 7, 2013

    Seacoast Banking Corporation of Florida (SBCF), the holding company for Seacoast National Bank, announced that the registered direct public offering of 34,883,721 shares of its common stock has priced at $2.15 per share for gross proceeds of approximately $75 million. Hovde Group served as sole placement agent to Seacoast in the offering.
    view article »
  • Premier Service Bank has announced a sale to Independence Bank

    Published November 4, 2013

    Premier Service Bank (Riverside, CA) has announced a sale to Independence Bank (Newport Beach, CA) in a deal valued at $8.6 million. Hovde Group served as the exclusive financial advisor to Premier Service Bank in the transaction.
    view article »
  • Jacksonville Bancorp, Inc. completes $5.0 million capital raise

    Published October 7, 2013

    Jacksonville Bancorp Inc. (JAXB) announced that it has completed the sale of $5 million in common stock, or 10 million shares, through a rights offering and public offering. Hovde Group LLC served as the company's sole placement agent and exclusive financial advisor in connection with the offerings.
    view article »
  • Liberty Bank, FSB has executed P&A to sell remaining bank to Central State Bank

    Published October 4, 2013

    Liberty Bank, FSB - West Des Moines, IA has executed a purchase and assumption agreement to sell its remaining bank to Central State Bank - Storm Lake, IA. Hovde Group, LLC served as the exclusive financial advisor to Liberty Bank, FSB
    view article »
  • Stonegate Bank (SGBK) to acquire Florida Shores Bancorp, Inc.

    Published September 5, 2013

    Stonegate Bank - Fort Lauderdale, FL (OTCBB: SGBK) announced today the signing of a definitive agreement to acquire all the operations of Florida Shores Bancorp and its two subsidiary banks, Florida Shores Bank - Southeast and Florida Shores Bank – Southwest, including the minority interests in the subsidiary banks held by other investors. Hovde Group, LLC initiated this transaction and served as exclusive financial advisor to Florida Shores Bancorp, Inc. and its subsidiaries.
    view article »
  • CB&S Bank acquires failed Community South Bank from FDIC

    Published August 23, 2013

    Russellville, AL.-based CB&S Bank ($1.21 billion), acquires Parsons, TN-based Community South Bank in an FDIC-assisted transaction. Hovde Group LLC served as financial adviser to CB&S Bank.
    view article »
  • Nicolet Bancshares acquires failed Bank of Wausau from FDIC

    Published August 9, 2013

    Green Bay, WI-based Nicolet Bancshares, Inc. ($1.07 billion), acquires Wausau, WI-based Bank of Wausau in an FDIC-assisted transaction. Hovde Group LLC served as financial adviser to Nicolet.
    view article »
  • C1 Bank acquires failed First Community Bank of Southwest Florida from FDIC

    Published August 5, 2013

    St. Petersburg, Fla.-based C1 Bank ($1.03 billion), acquires Fort Myers, Fla.-based First Community Bank of Southwest Florida in an FDIC-assisted transaction. Hovde Group LLC served as financial adviser to CBM Florida Holding Company / C1 Bank.
    view article »
  • CenterState Banks, Inc. to acquire Gulfstream Bancshares, Inc.

    Published July 30, 2013

    DAVENPORT, FL., July 30, 2013 ‐‐ CenterState Banks, Inc. (NASDAQ‐GS: CSFL) announced today the signing of a definitive merger agreement under which CenterState will acquire Gulfstream Bancshares, Inc. the parent company of Gulfstream Business Bank. Upon completion of the holding company merger, Gulfstream Business Bank will be merged with and into CenterState Bank of Florida, NA. Hovde Group, LLC initiated this transaction and served as exclusive financial advisor to Gulfstream Bancshares, Inc.
    view article »
  • Liberty Bank executes P&A agreement to sell 5 branches to City State Bank

    Published July 19, 2013

    Liberty Bank, FSB - West Des Moines, IA has executed a purchase and assumption agreement to sell five branches to City State Bancorporation, Inc. - Central City, IA. Hovde Group, LLC served as the exclusive financial advisor to Liberty Bank, FSB.
    view article »
  • Florida Community Bank to acquire Great Florida Bank

    Published July 17, 2013

    Weston, Fla.-based Florida Community Bank NA ($3.25 billion), a unit of Bond Street Holdings Inc., announced that it has entered into a strategic merger transaction to acquire Miami Lakes, Fla.-based Great Florida Bank ($1.14 billion). Hovde Group, LLC served as the financial advisor to Great Florida Bank.
    view article »
  • First Bank to acquire Heritage Community Bank

    Published July 11, 2013

    First Bank (FRBA)- Hamilton, NJ, has executed a definitive agreement to acquire Heritage Community Bank (Randolph, NJ). Hovde Group, LLC served as the exclusive financial advisor to First Bank.
    view article »
  • United Community to acquire Mercantile Bank in 363 Bankruptcy transaction

    Published June 28, 2013

    Chatham, Ill.-based United Community Bancorp Inc. unit United Community Bank has agreed to acquire Hovde’s client, Quincy, Ill.-based Mercantile Bank, from Mercantile Bancorp Inc. for $22.3 million in cash. The transaction is being effectuated under Section 363 of the U.S. Bankruptcy Code, and Mercantile Bancorp Inc. will be dissolved if the court agrees to the deal. United Community Bancorp Inc. will expand in Adams County, Ill., by four branches to be ranked second with a 25.71% share of approximately $1.78 billion in total market deposits. Hovde Group served as the exclusive financial advisor to Mercantile Bancorp, Inc. and Mercantile Bank.
    view article »
  • Heartland Financial enters Definitive Agreement to Acquire Morrill Bancshares

    Published June 12, 2013

    Heartland Financial USA, Inc. (NASDAQ: HTLF) announced today that it has entered into a definitive merger agreement with Morrill Bancshares, Inc., based in Merriam, Kansas. Morrill is the parent of Morrill & Janes Bank and Trust Company, a commercial bank serving the greater Kansas City and northeast Kansas markets. Hovde Group served as the exclusive financial advisor to Morrill Bancshares, Inc., and its subsidiary, Morrill & Janes Bank and Trust Company.
    view article »
  • Find the Right Formula for Success

    Published June 5, 2013

    Hovde Group, LLC’s Andrew Fitzgerald is interviewed by Wisconsin Banker Magazine about the changes in banking products and services as a result of new regulations, including Basel III and the Dodd-Frank Act.
    view article »
  • IS Banking's Business Model Broken?

    Published May 28, 2013

    Net interest margin compression is threatening banking’s traditional profit model of earning net interest income. As the low interest rate environment continues, banks will be forced to replace higher yielding loans with lower yielding assets, driving down net interest margins. Hovde’s Andrew Fitzgerald argues that many banks are ‘running on fumes’ right now and growing frustration among aging boards and management could fuel the wave of M&A many industry observers have been predicting for several years.
    view article »
  • M&A Roundtable: Steve Hovde Featured in Bank Director

    Published April 23, 2013

    In this Q2 article published by Bank Director, Hovde President and CEO, Steve Hovde, discussess his observations and outlook on the Operating Environement and M&A Market for Banks.
    view article »
  • Guaranty Bancshares, Inc. to acquire First State Bank

    Published April 14, 2013

    Mount Pleasant, Texas-based Guaranty Bancshares Inc. unit Guaranty Bond Bank N.A. has agreed to acquire Hallsville, Texas based First State Bank from Longview, Texas-based Ruff Partners Ltd. Hovde Group, LLC served as exclusive financial advisor to Ruff Partners Ltd. and First State Bank in connection with the transaction.
    view article »
  • Coastal Community Bank raises $6.5M in Private Offering

    Published March 7, 2013

    Everett, Wash.-based Coastal Community Bank raised $6.5 million in fresh capital from a private stock offering. Hovde Securities LLC served as placement agent.
    view article »
  • First Financial Bankshares enters agreement to acquire Orange Savings Bank

    Published February 20, 2013

    First Financial Bankshares Inc. (FFIN) announced today that it has entered into a defintive agreement to acquire Orange, Texas-based Orange Savings Bank SSB. Hovde Financial, Inc served as exclusive financial advisor to OSB Financial Services, Inc. and Orange Savings Bank in connection with the transaction.
    view article »
  • Asset Quality Driving Pricing: Market Commentary by Steve Hovde

    Published February 5, 2013

    The M&A market is showing new signs of life but there still is a huge divide between banks that sell for a premium and those that sell at a discount. Steve Hovde, the president and CEO of The Hovde Group, comments in Bank Director Magazine about what factors influence the seller’s value and what a board can do about it.
    view article »
  • One PacificCoast enters into investment agreement with Albina Community Bank

    Published February 1, 2013

    Oakland, Calif.-based One PacificCoast Foundation unit One PacificCoast Bancorp Inc. entered into an investment agreement with Portland, Ore.-based Albina Community Bank, a subsidiary of Albina Community Bancorp ($130.3 million), to acquire a majority stake in the bank. Hovde Securities LLC issued a fairness opinion in connection with the transaction.
    view article »
  • Jacksonville Bancorp raises $50M

    Published December 31, 2012

    Jacksonville, Fla.-based Jacksonville Bancorp Inc. announced Dec. 31 that it has closed a $50 million capital raise, with the majority of the proceeds being used support the capital of unit Jacksonville Bank. Hovde Securities LLC acted as financial advisor to Jacksonville Bancorp and issued a fairness opinion in connection with the capital raise.
    view article »
  • Independence Bancshares Inc. raises $14.1 million in private placement

    Published December 31, 2012

    Greenville, S.C.-based Independence Bancshares Inc. on Dec. 31, 2012, closed a private placement of $14.1 million. Hovde Securities LLC served as the exclusive placement agent and financial advisor to Independence in the offering.
    view article »
  • 4830 Acquisition Company enters agreement to purchase Southern Commerce Bank

    Published December 10, 2012

    4830 Acquisition Company LLC ‐ Tampa, FL has executed a definitive agreement to acquire Southern Commerce Bank, NA ‐ Tampa, FL. Hovde Financial both initiated this transaction and served as the exclusive financial advisor to Southern Commerce Bank.
    view article »
  • State of the Banking Industry: Video Commentary by Steve Hovde

    Published November 16, 2012

    Steven D. Hovde, President & CEO, Hovde Financial Inc., speaks at Bank Director's 2012 Bank Executive and Board Compensation event in Chicago on the state of the banking industry over the next 12 months.
    view article »
  • Bank Earnings Trends: Steve Hovde Featured in Bank Director

    Published October 29, 2012

    In this Q3 article published by Bank Director, Hovde Financial President and CEO, Steve Hovde, discussess his observations about bank earnings trends.
    view article »
  • SmartBank acquires failed GulfSouth Private Bank from FDIC

    Published October 22, 2012

    SmartBank, a wholly-owned subsidiary of SmartFinancial, Inc. (Pigeon Forge, TN) acquires failed GulfSouth Private Bank (Destin, FL) from FDIC. Hovde Financial served as the exclusive financial advisor to SmartFinancial, Inc. and its subsidiary SmartBank.
    view article »
  • Encore National enters Definitive Agreement to Acquire Liberty Bank

    Published October 15, 2012

    Encore National Bank (Naples, FL) has executed a definitive agreement to acquire Liberty Bank (Naples, FL). Hovde Financial both initiated this transaction and served as the exclusive financial advisor to Liberty Bank.
    view article »
  • Heartland Financial enters Definitive Agreement to Acquire Heritage Bank, NA

    Published October 11, 2012

    Dubuque, Iowa-based Heartland Financial USA Inc. ($4.43 billion) has entered into a definitive agreement to acquire Phoenix-based Heritage Bank NA ($107.0 million) in an all-cash transaction valued at approximately $16 million. Hovde Financial, Inc. served as exclusive financial advisor to Heritage Bank.
    view article »
  • Flagler Bank closes P&A transaction with Banesco USA

    Published September 24, 2012

    Flagler Bank (West Palm Beach, Florida), closed on the sale of its Fort Lauderdale branch to Banesco USA, headquartered in Coral Gables.
    view article »
  • Grand Bank closes sale of 4 branches to Harbor Community

    Published September 17, 2012

    Grand Bank & Trust of Florida ‐ West Palm Beach, Florida, has closed on the sale of four branches to Harbor Community Bank ‐ Indiantown, Florida.
    view article »
  • Heartland Financial USA, Inc. to Acquire First Shares, Inc., in Platteville, WI

    Published August 2, 2012

    Heartland Financial USA, Inc. (NASDAQ: HTLF) announced today that it has entered into a definitive merger agreement with First Shares, Inc. (FSI), parent company of First National Bank of Platteville in Platteville, Wisconsin. According to terms of the Agreement, Heartland will acquire FSI in a transaction valued at approximately $11 million. Hovde Financial, Inc. served as exclusive financial advisor to First Shares, Inc., and its susidiary, First National Bank of Platteville.
    view article »
  • SNL Interview with Hovde Managing Director Daniel Pake on West Coast M&A

    Published July 23, 2012

    SNL caught up with Daniel Pake after Hovde Financial Inc. named him a managing director in its investment banking operations, and placed him atop the firm's Beverly Hills, Calif. office, where he will focus on West Coast markets. Pake, who has worked in the advisory business for more than 15 years, spent the last decade with BB&T Corp.'s BB&T Capital Markets. His hiring was part of a flurry activity from the firm, which announced that it hired Brian Marks as vice president in a new Chicago office it is set to open. SNL chatted with Pake about the M&A market on the West Coast and what obstacles are still holding up consolidation.
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  • Brian Marks Joins Hovde Team; Firm Opening New Downtown Chicago Office

    Published July 18, 2012

    Hovde Continues Expansion Plans with addition of Brian Marks as Vice President and Opening of New Downtown Chicago Office location.
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  • Daniel Pake joins Hovde as Managing Director

    Published July 11, 2012

    Hovde Financial announced today that Daniel L. Pake has joined the firm as a Managing Director of Investment Banking. Mr. Pake will head the firm’s Beverly Hills, California office and will provide transaction sourcing and execution, with a primary focus on banks and thrifts on the West Coast.
    view article »
  • Ready, Set, Go: Steve Hovde featured in Bank Director Article on M&A Market

    Published June 9, 2012

    In this Q2 article published by Bank Diretor, Hovde Financial President and CEO, Steve Hovde, discussess his observations about the bank M&A market.
    download file »
  • Liberty Bank - Branch Divestiture Case Study

    Published June 4, 2012

    Hovde’s client, Liberty Banshares of Iowa, Inc. (“Liberty”) has successfully divested 12 of its non-core branches to increase capital and focus its franchise in metropolitan Central-Iowa. Over the course of eight months, Hovde worked closely with Liberty to identify buyers of its outlier branches in six markets across Iowa. To date, Liberty has signed purchase & assumption agreements to divest 12 branches in six separate transactions (five of which have closed, with one pending), shedding a total of $355 million in assets and increasing its capital by nearly $20 million. Liberty’s branch divestiture strategy serves as a case study as a way for banks to reposition their core franchises and boost capital ratios in today’s difficult operating environment.
    view article »
  • Flagler Bank enters P&A with Banesco USA

    Published June 1, 2012

    Flagler Bank ‐ West Palm Beach, Florida, has entered into a purchase & assumption agreement with Banesco USA ‐ Coral Gables, Florida. Hovde Financial initiated the transaction and served as the exclusive financial advisor to Flagler Bank
    view article »
  • Hovde CEO Featured by Bank Director

    Published May 25, 2012

    In a recent artice published on Bank Director.com, Steve Hovde speaks about "Strategic Mergers: An Alternative in a Challenging M&A Market"
    view article »
  • Heartland Financial USA acquiring 3 branch offices from Liberty Bank

    Published May 4, 2012

    Dubuque, Iowa-based Heartland Financial USA Inc. ($4.31 billion) entered into a definitive purchase and assumption agreement to acquire three retail banking offices of West Des Moines, Iowa-based Liberty Bank FSB. Hovde Financial, Inc. served as exclusive financial advisor to Liberty Banshares Iowa, Inc.
    view article »
  • Ovation Holdings, Inc. executes definitive agreement to acquire Royal Palm Bank

    Published May 1, 2012

    Ovation Holdings, Inc. announced today that it has signed an agreement to purchase the three Southwest Florida Offices of Royal Palm Bank. Ovation Holdings, Inc is the holding company for Encore National Bank. Hovde Financial, Inc. served as the exclusive financial advisor to Royal Palm Bank of Florida.
    view article »
  • Mercantile Bancorp, Inc. Announces Agreement to Sell Heartland Bank

    Published April 30, 2012

    Mercantile Bancorp, Inc. (OTCQB: MBCR) announced today, an agreement to sell Heartland Bank, its Leawood, Kansas-based subsidiary. Leawood, KS-based CrossFirst Holdings LLC and its subsidiary CrossFirst Bank have agreed to acquire a majority of the franchise of Leawood, KS-based Heartland Bank, a Mercantile subsidiary. Hovde Financial, Inc. served as the exclusive financial advisor to Mercantile Bancorp, Inc.
    view article »
  • Coastal Financial Corporation completes $9.0 million equity capital raise

    Published April 9, 2012

    Coastal Financial Corporation (Everett, WA), recently completed a $9.0 million common equity capital raise in April 2012. Hovde Securities, LLC served as the company's exclusive placement agent.
    view article »
  • International Bank of Chicago acquires failed Premier Bank from FDIC

    Published March 23, 2012

    International Bank of Chicago, the wholly-owned subsidiary of IBC Bancorp, Inc. announced today that it has acquired certain assets and liabilities and the banking operations of Premier Bank (Wilmette, IL) in an FDIC-assisted transaction. Hovde Financial, Inc. served as the exclusive financial advisor to IBC Bancorp, Inc. and International Bank of Chicago.
    view article »
  • Vintage Bancorp reaches deal to buy Cornerbank

    Published March 12, 2012

    Vintage Bancorp Inc. has entered into an agreement to acquire the stock of Winfield, Kan.-based Cornerstone Alliance Ltd. unit Cornerbank NA ($276.8 million). Hovde Financial Inc. served as financial adviser to Cornerbank.
    view article »
  • Metro City Bank acquires failed Global Commerce Bank from FDIC

    Published March 2, 2012

    Metro City Bank (Doraville, GA) ($388.1 million), entered into a purchase and assumption agreement with the FDIC to assume all of the deposits ($116.8 millions) of Global Commerce Bank (Doaraville, GA). Hovde Financial, Inc. served as the exclusive financial advisor to Metro City Bank.
    view article »
  • First California Financial and Premier Service Bank Sign Merger Agreement

    Published February 28, 2012

    First California Financial Group, Inc. (NASDAQ: FCAL), the holding company of First California Bank, and Premier Service Bank (OTCBB: PSBK) today announced the signing of a definitive agreement, in which Premier Service Bank will merger into First California Bank. Hovde Securities, LLC served as the exclusive financial advisor to Premier Service Bank.
    view article »
  • Grand Bank & Trust of Florida enters P&A agreement with Harbor Community Bank

    Published February 17, 2012

    Grand Bank & Trust of Florida ‐ West Palm Beach, Florida, has entered into a purchase & assumption agreement with Harbor Community Bank ‐ Indiantown, Florida. Hovde Securities served as the exclusive financial advisor to Grand Bankshares, Inc. and, its wholly‐owned subsidiary, Grand Bank & Trust of Florida ("Grand B&T").
    view article »
  • Arvest Bank Group enters agreement to acquire Union Bank

    Published January 30, 2012

    Arvest Bank Group, Inc. - Bentonville, Arkansas enters agreement to acquire Union Bank - Kansas City, Missouri. Hovde Financial served as the exclusive financial advisor to Union Bank.
    view article »
  • BANKshares, INc. has aquired Commercial Bancorp, Inc

    Published January 6, 2012

    BANKshares, Inc. ‐ Winter Park, Florida has acquired Commercial Bancorp, Inc. ‐ Ormond Beach, Florida. Hovde Financial served as the exclusive financial advisor to Commercial Bancorp, Inc.
    view article »
  • Metropolitan Bank Group Enters P&A with Inland Bancorp

    Published December 13, 2011

    Metropolitan Bank Group, Inc. (Chicago, IL) has announced that it has entered into a P&A to sell certain assets assets and liabilites of Oswego Community Bank to Inland Bancorp, Inc. (Oak Brook, IL). Hovde Financial initiated the transaction and served as exclusive financial advisor to Metropolitan Bank Group, Inc.
    view article »
  • California United Bank and Premier Commercial Bancorp Announce Merger Agreement

    Published December 9, 2011

    The Boards of Directors of San Fernando Valley headquartered California United Bank (OTCBB:CUNB) and Orange County based Premier Commercial Bancorp (OTCBB: PCBP) announced today that the companies entered into a merger agreement providing for California United Bank or a holding company to be formed for California United Bank (“CU Bancorp”), to acquire Premier Commercial Bancorp and its subsidiary Premier Commercial Bank. Hovde Financial, Inc. acted as financial advisor to California United Bank and rendered a fairness opinion to the California United Bank Board of Directors.
    view article »
  • Steve Hovde, Hovde Financial CEO Featured in Bank Director Magazine

    Published November 17, 2011

    In this issue, Steve Hovde, CEO of Hovde Financial speaks with Bank Director about what factors could change the merger environment going forward, and why bankers should be thinking about deals now.
    download file »
  • International Bank of Chicago to acquire failed All American Bank

    Published October 28, 2011

    The FDIC entered into a purchase and assumption agreement with Chicago-based IBC Bancorp Inc. unit International Bank of Chicago ($237.6 million), which agreed to assume all the deposits of All American Bank. Hovde Financial, Inc. served as the financial advisor to International Bank of Chicago.
    view article »
  • Prosperity Bancshares, Inc. enters P&A Agreement to acquire Texas Bankers, Inc.

    Published September 14, 2011

    Prosperity Bancshares, Inc. (Houston, TX) Has Executed a Purchase & Assumption Agreement to Acquire Texas Bankers, Inc. (Austin, TX). Hovde Financial Served as Exclusive Financial Advisor to Texas Bankers, Inc.
    view article »
  • TNCC Acquires Controlling interest in Farmers Bancorp and Commerce Bancshares

    Published August 1, 2011

    Tennessee Commerce Bancorp, Inc. (Nasdaq: TNCC) has acquired a 90%+ Controlling Interest in Farmers Bancorp, Inc. (Farmers Bank of Lynchburg) and Commerce Bancshares, Inc. (Peoples State Bank of Commerce). Hovde Financial served as a financial advisor to Tennessee Commerce Bancorp, Inc.
    view article »
  • Premier America Bank acquires First Peoples Bank (Port St. Lucie, FL) from FDIC

    Published July 15, 2011

    Premier American Bank, National Association, a wholly-owned subsidiary of Bond Street Holdings, Inc., executed an agreement with the FDIC to acquire First Peoples Bank in Port St. Lucie, Florida. Hovde Financial, Inc. served as the financial advisor to Premier American and Bond Street.
    view article »
  • BancFirst Corporation aquires FBC Financial Corporation

    Published July 12, 2011

    BancFirst Corporation (NASDAQ: BANF) acquires FBC Financial Corporation and its subsidiary bank, 1st Bank Oklahoma ($256 million in assets). Hovde both initiated this transaction and served as exclusive financial advisor to FBC Financial Corporation.
    view article »
  • Bond Street acquires Coastal Bank (Cocoa Beach, Fl) from FDIC

    Published May 6, 2011

    Bond Street Holdings, Inc., New York, NY, has executed an agreement with the FDIC to acquire Coastal Bank in Cocoa Beach, Florida. Hovde Financial, Inc. served as the financial advisor to Premier American and Bond Street.
    view article »
  • Bond Street acquires First Nat. Bank of Central Fla & Cortez Community from FDIC

    Published April 29, 2011

    Bond Street Holdings, Inc., New York, NY, has executed purchase & assumption agreements with the FDIC to acquire both First National Bank of Central Florida, Winter Park, Florida and Cortez Community Bank, Brooksville, Florida. Hovde Financial served as financial advisor to Bond Street.
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  • California United Bank (CUNB.OB) Closes $10.27 Million Offering

    Published April 7, 2011

    California United Bank (CUNB) – Los Angeles, CA, has Completed its Capital Offering to Select Institutional and Accredited Investors for $10.27 Million of Common Stock. Hovde Securities acts as lead placement agent.
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  • Coastal Financial Corporation Closes $10 Million Offering

    Published March 31, 2011

    Coastal Financial Corporation – Everett, WA, has Completed its Capital Offering to Select Institutional and Accredited Investors, for $10.0 Million of Common Stock. Hovde Securities acts as lead placement agent.
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  • Seaway Bank & Trust Co. acquires Legacy Bank from FDIC

    Published March 11, 2011

    Seaway Bank & Trust Co.,Chicago, IL, has executed a purchase & assumption agreement with the FDIC to acquire Legacy Bank, Milwaukee, WI. Hovde Financial served as financial advisor to Seaway Bank & Trust Co.
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  • First Bank and Trust Co. of Indiantown to acquire Grand Bank & Trust of Florida

    Published March 4, 2011

    HCBF Holding Co. Inc. unit Indiantown, Fla.-based First Bank and Trust Co. of Indiantown will acquire West Palm Beach-based Grand Bankshares Inc. unit Grand Bank & Trust of Florida ($452.5 million) for $8.4 million. Hovde both initiated this transaction and served as exclusive financial advisor to Grand Bankshares, Inc.
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  • The BANKshares, Inc. to aquire Commercial Bancorp

    Published February 17, 2011

    The BANKshares, Inc., Winter Park, Florida, has executed a definitive merger agreement with Commercial Bancorp, Inc., Ormond Beach, Florida. Hovde Financial served as financial advisor to Commercial Bancorp, Inc.
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  • Bond Street Holdings aquires Sunshine State Community Bank in FDIC Transaction

    Published February 11, 2011

    Bond Street Holdings, Inc., New York, NY, has executed a purchase & assumption agreement with the FDIC to acquire Sunshine State Community Bank, Port Orange, Florida. Hovde Financial served as financial advisor to Bond Street Holdings on the transaction
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  • McFarland State Bank aquires Evergreen State Bank from FDIC

    Published January 28, 2011

    McFarland State Bank, McFarland, WI,has executed a purchase & assumption agreement with the FDIC to acquire Evergreen State Bank, Stoughton, WI. Hovde Financial served as financial advisor to McFarland State Bank
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  • North Shore Bank, FSB aquires Maritime Savings Bank from FDIC

    Published September 30, 2010

    North Shore Bank, FSB - Brookfield, WI Has Acquired Pursuant to a Purchase & Assumption Agreement with the FDIC Maritime Savings Bank - West Allis, WI. Hovde Financial Served as Exclusive Financial Advisor to North Shore Bank
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  • California United Bank (CUNB.OB) aquiring California Oaks State Bank

    Published August 25, 2010

    Encino, Calif.-based California United Bank ($532.0 million) is buying Thousand Oaks, Calif.-based California Oaks State Bank ($136.7 million) in a deal valued at $17.3 million. Hovde Financial served as adviser to California United Bank.
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  • First PacTrust Bancorp (FPTB)- $60 Million Offering Subscribed

    Published July 27, 2010

    First PacTrust Bancorp, Inc.‐Chula Vista, CA, has entered into Subscription Agreements with Select Insitutional and Accredited Investors for the sale of $60.0 Million of the Company’s Securities. Hovde Securities acts as lead placement agent.
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