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Hovde 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
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.
view article »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.
view article »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.
view article »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.
view article »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.
view article »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.
view article »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.
view article »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.
view article »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
view article »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
view article »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
view article »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.
view article »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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