M&A Deal Summary

GreenPoint Financial Acquires BankAmerica Housing Services

On April 13, 1998, GreenPoint Financial acquired financial services company BankAmerica Housing Services from Bank of America for 603M USD

Acquisition Highlights
  • This is GreenPoint Financial’s 1st transaction in the Financial Services sector.
  • This is GreenPoint Financial’s largest (disclosed) transaction.
  • This is GreenPoint Financial’s 1st transaction in the United States.

M&A Deal Summary

Date 1998-04-13
Target BankAmerica Housing Services
Sector Financial Services
Buyer(s) GreenPoint Financial
Sellers(s) Bank of America
Deal Type Divestiture
Deal Value 603M USD

Target

BankAmerica Housing Services

United States
BankAmerica Housing Services is an originator and servicer of manufactured housing loans.

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Buyer(S) 1

Buyer

GreenPoint Financial

New York, New York, United States

Category Company
Sector Financial Services
DESCRIPTION

GreenPoint Financial Corporation is a provider of mortgages and retail banking products and services.


DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 1 of 1
Year (1998) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Bank of America

Charlotte, North Carolina, United States

Category Company
Founded 1784
Sector Financial Services
Employees212,000
Revenue 98.6B USD (2023)
DESCRIPTION
Entrance to Bank of America Center in downtown Charlotte, North Carolina.
Entrance to Bank of America Center in downtown Charlotte, North Carolina.

Bank of America is a financial services institution serving individual consumers, small- and middle-market businesses, institutional investors, large corporations and governments with a full range of banking, investing, asset management and other financial and risk management products and services. Bank of America was incorporated in 1784 and is headquartered in Charlotte, North Carolina.


DEAL STATS #
Overall 1 of 16
Sector (Financial Services) 1 of 15
Type (Divestiture) 1 of 16
Country (United States) 1 of 14
Year (1998) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1992-04-23 Security Pacific Merchant Bank

Los Angeles, California, United States

Security Pacific Merchant Bank provides financial services, as on April 23, 1992, it was acquired by Bank of America Corporation.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-01-14 NationsCredit Commercial - Business Leasing Group

United States

NationsCredit Commercial Corp. - Business Leasing Group specializes in commercial loans under $50,000 with terms ranging from two to six years. Serving over 25 industries.

Sell -