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 Sanctuary Securities Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Frost Brown Todd LLC
Seller Yes Ice Miller LLP