Sandler O'Neill & Partners LP remained the top financial adviser for bank and thrift M&A by deal value and number of deals, with its advisory work on 39 M&A deals and total deal value of $13.82 billion, according to SNL Financial's league table rankings through the first three quarters of 2017.
Keefe Bruyette & Woods Inc. ranked second in deal value and number of deals, with $11.40 billion in deal credit from 36 deals as of Sept. 30. During the third quarter, Sandler landed nine deals while KBW worked on 13 announced deals.
The two financial advisers were on opposite sides of five M&A deals announced in the most recent quarter, the biggest of which was First Financial Bancorp.'s pending acquisition of MainSource Financial Group Inc. — valued at $1 billion — announced in July. Sandler was financial adviser to First Financial, while Stifel Financial Corp. subsidiary KBW advised MainSource.
In addition, KBW advised Valley National Bancorp in its $815.7 million pending acquisition of USAmeriBancorp Inc. announced in July, with Sandler serving as USAmeriBancorp's financial adviser on the deal.
Moreover, KBW served as financial adviser to CenterState Bank Corp. in its pending purchases of HCBF Holding Co. Inc. and Sunshine Bancorp Inc., which were announced side-by-side in August. Sandler was financial adviser to HCBF, and Hovde Group LLC was financial adviser to Sunshine.
Sandler and KBW were also advisers in in Old National Bancorp's $303.2 million pending purchase of Anchor Bancorp Inc. announced in August, as well as in Bank of Marin Bancorp's $51.0 million pending acquisition of Bank of Napa NA announced in July. KBW advised the buyers and Sandler advised the selling companies in both deals.
Among legal advisers, Wachtell Lipton Rosen & Katz retained its top ranking by deal value for bank and thrift M&A through the first three quarters of the year. The firm served as legal adviser to Associated Banc-Corp in its $482.3 million pending acquisition of Bank Mutual Corp. announced in July.
Luse Gorman PC worked on more deals than any other M&A legal advisers as of Sept. 30, with 13 deals.
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