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First State Bancorp. Message Board

  • lemonyelow1 lemonyelow1 Jul 26, 2003 12:01 AM Flag

    the "proverbial" bottle in the water...

    That's me tossing THAT with the hope that someone NOT on the desert island we call FSNM will read it.

    Just learned that Albuquerque's banking market #2 or #3 -- something called ACCESS ANYTIME (AABC) just decided to take a buyout from a bank based in AZ.

    There's cross-state consolidation going on in the SW -- not just AZ & NM -- CO & UT definitely figure in the mix as well (even if UT is, I'm 99% certain, not SW by any std.)

    FSNM could be a buyer, with who knows what gain or loss to us shareholders.... But I peg it -- semi-invisible as it obviously is -- as more likely a target.

    AABC "commanded" a 40% premium from its immediately-before-announc. price.... Hmmm.... and Mmmm, too.

    Remember, as I'm fond of saying, you heard it here FIRST!

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    • Thanks for the aabc news. Something I had no idea about. I would hope that if we are the ones to be bought that a split occurs first. It seems to be in the cycle of every four years a split(ie '95,'99. As far as being bot... I had thought that fsnm was a good candidate when I bought them but from bigger fish like wells fargo(texas) or norwest(colorado). Any how have been happy to own them as they are.

      • 1 Reply to wynnebrant
      • [QUOTE}

        Access Anytime Bancorp Inc. (NasdaqSC:AABC - News), a holding company for New Mexico's FirstBank, on Monday said its planned acquisition by First National Bank Holding Co., the parent of First National Bank of Arizona and First National Bank of Nevada, was terminated.

        In a securities filing, Access Anytime said the boards of both companies agreed to end the merger after First National completed its due diligence review.

        The $22 million acquisition was to have helped Scottsdale, Arizona-based First National, which recently had about $1.38 billion of assets and 33 branches in Arizona and Nevada, expand into New Mexico. Access Anytime, based in Albuquerque, recently had about $197 million of assets.

        ---

        Ooh ooh -- what other bank might help First National (that's the Arizona bank in case you were too cheap to buy a program) achieve its simple and smart objective?!

        Speaking of cheap, maybe they wouldn't even have to change their letterhead -- or at least not that much.... How 'bout the name

        First Governmental?!

 
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