Mergers & Acquisitions

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Deal Overview

First Financial Bancorp.
Actual Acquirer:
First Financial Bancorp.
First Clyde Banc Corp
Deal Type:
Bank & Thrift Company
Agreement Date:
Announcement Date:
Announced Deal Value ($ M):
Completion Date:
Announced Deal Value Per Share ($ )

Consideration Breakout
Common Stock ($M) 11.2
Common Stock Issued 288,827

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 171.2 170.4
Price / Tangible Book (%) 171.2 170.4
Price / Earnings (x) 14.3 13.7
Price / Deposits (%) 18.71 18.36
Price / Assets (%) 16.77 16.49
Tangible Book Premium/ Deposits (%) 8.48 8.29
Deal Terms
Description of Consideration

First Clyde Banc Corp shareholders received 2.17 shares of First Financial common for each share held. The exchange ratio was based on the 20-day avg of FFBC stock average prior to consumation. 4-for-3 split on 1/4/94.

Accounting Method Pooling of Interests
In-State Transaction? Yes
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) 2.170000
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 Parrish Fryman Marcum
Seller Yes Porter Wright Morris & Arthur