Mergers & Acquisitions

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Deal Overview

Buyer:
First Financial Bancorp.
Actual Acquirer:
First Financial Bancorp.
Target:
Union State Bank
Deal Type:
Bank & Thrift Company
Agreement Date:
9/29/1997
Announcement Date:
9/29/1997
Announced Deal Value ($ M):
13.60
Status:
Completed
Completion Date:
4/1/1998
Announced Deal Value Per Share ($ )
355.52

Consideration Breakout
Cash ($M) 13.6

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 159.5 146.2
Price / Tangible Book (%) 159.5 146.2
Price / Earnings (x) 17.4 18.8
Price / Deposits (%) 26.40 26.93
Price / Assets (%) 22.50 22.56
Tangible Book Premium/ Deposits (%) 12.06 10.63
Deal Terms
Description of Consideration

First Financial paid approximately $13.6 million in cash for all outstanding shares of Union State Bank.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) NA
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) NA
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) NA
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement NA
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes BKD Capital Advs LLC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Frost Brown Todd LLC
Seller Yes Cook Troth & Burkard