Mergers & Acquisitions

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Deal Overview

Buyer:
First Financial Bancorp.
Actual Acquirer:
First Financial Bancorp.
Target:
Bright Financial Services, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
2/20/1995
Announcement Date:
2/20/1995
Announced Deal Value ($ M):
15.10
Status:
Completed
Completion Date:
9/30/1995
Announced Deal Value Per Share ($ )
73.18

Consideration Breakout
Common Stock ($M) 15.3
Common Stock Issued 442,875

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 187.9 182.7
Price / Tangible Book (%) 195.3 188.9
Price / Earnings (x) 16.4 13.8
Price / Deposits (%) 15.81 16.28
Price / Assets (%) 13.71 14.09
Tangible Book Premium/ Deposits (%) 8.53 8.31
Deal Terms
Description of Consideration

Bright shareholders received 2.15287 First Fin'l common shares for each share held. Seller's financials are for Bright Nat'l Bank. Bright options were exercised and converted into Bright common shares prior to close.

Accounting Method Pooling of Interests
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 0
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) 2.152900
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 KeyBanc Capital Markets Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Frost Brown Todd LLC
Seller Yes Bingham Greenebaum Doll LLP