Mergers & Acquisitions

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Deal Overview

Buyer:
First Financial Bancorp.
Actual Acquirer:
First Financial Bancorp.
Target:
F & M Bancorp
Deal Type:
Bank & Thrift Company
Agreement Date:
5/23/1995
Announcement Date:
5/23/1995
Announced Deal Value ($ M):
12.50
Status:
Completed
Completion Date:
4/1/1996
Announced Deal Value Per Share ($ )
2,219.07

Consideration Breakout
Common Stock ($M) 12.7
Common Stock Issued 363,372

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 169.7 163.1
Price / Tangible Book (%) 169.7 163.1
Price / Earnings (x) 17.9 20.3
Price / Deposits (%) 22.60 24.96
Price / Assets (%) 19.85 21.20
Tangible Book Premium/ Deposits (%) 9.37 9.82
Deal Terms
Description of Consideration

F&M Bancorp shareholders received 64.507739 shares of First Financial common stock for each share held. Seller's financials are for Farmers & Merchants Bank.

Accounting Method Pooling of Interests
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Partial Overlap
Goodwill Generated ($ 000) 0
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 0
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 64.507700
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement No
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) 0
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes David A. Noyes & Co.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Frost Brown Todd LLC
Seller Yes Ice Miller LLP