The deal tracker series of Virginia-based financial information company SNL Financial revealed that banks in Massachusetts bagged some of the highest-priced deals in the US for the past three years. SNL Financial released the 20 most expensive bank deals in the US since 2010 and four mergers and acquisitions in the Bay State made it to the list.

The 13th most expensive bank deal made in the last three years is the acquisition of Bank Rhode Island by Brookline Bank in 2011. The transaction carried a price tag of USD 233 million, which was 193% of Bank Rhode Island's tangible book value, SNL said.

The acquisition of Worcester's Commerce Bank of Boston-based Mercantile Bank early last year made it on the top 12 of SNL's list. The acquisition price for the deal was USD 29.9 million, which was 194% of its tangible book value.

The purchase of Wainwright Bank by Eastern Bank was ranked by SNL Financial as the ninth most expensive bank deal in the US in the past three years. Eastern paid USD 162 million, which represented 200% of the tangible book value of Wainwright when the deal was made in June 2010.

In terms of deal value alone, the USD 488 million purchase of Danversbank in 2011 by People's United Bank holds the 19th spot.

SNL data showed that the merger and acquisition activity in the banking sector had slowed starting in the early part of the year. Despite the reduced activity, lenders who want to acquire banks are forking out more money for their purchases. In the third quarter, the report said the median price tag was 143% of the acquired bank's tangible book value. In the second quarter, it was only 118%.

SNL Financial said in the third quarter, total deal value increased to USD 6.65 billion. This was an increase from the total value of USD 3.33 billion made in the previous quarter. The total value of the deals in the third quarter recorded the highest since the second quarter two years ago.