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The best bank buys
Bank mergers grab headlines. But regional banks can help you grab a higher return.
February 20, 2004: 9:17 AM EST
By Donna Rosato, MONEY Magazine

This story appears in the March issue of MONEY Magazine and was updated on Feb. 17.

News: The latest deals
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National City/Provident
North Fork/GreenPoint

NEW YORK (MONEY Magazine) -- First, in January, there was the $58 billion merger of banking giants J.P. Morgan Chase and Bank One. Now the smaller deals are rolling in.

New York regional bank North Fork Bancorp. said Monday it agreed to buy cross-town rival GreenPoint Financial Corp. for $6.3 billion in stock, creating one of New York City's biggest retail banks. National City Corp., the No. 10 U.S. bank, said Tuesday that it will buy Provident Financial Group Inc. for about $2.1 billion, combining two of Ohio's largest banks.

Wall Street has been buzzing about which banks are next on the acquisition hit list.

But the real story is about business fundamentals: Smart regional bankers can pull in new customers and deliver solid growth and fat dividends to boot. Here are three to consider.

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