Mergers & Acquisitions

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Deal Overview

Buyer:
First Financial Bancorp.
Actual Acquirer:
First Financial Bancorp.
Target:
Jennings Union Bankcorp
Deal Type:
Bank & Thrift Company
Agreement Date:
6/3/1992
Announcement Date:
6/3/1992
Announced Deal Value ($ M):
11.40
Status:
Completed
Completion Date:
1/4/1993
Announced Deal Value Per Share ($ )
141.49

Consideration Breakout
Common Stock ($M) 11.4
Common Stock Issued 293,133

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 165.0 165.0
Price / Tangible Book (%) 165.0 165.0
Price / Earnings (x) 10.3 9.0
Price / Deposits (%) 17.02 17.29
Price / Assets (%) 15.38 15.51
Tangible Book Premium/ Deposits (%) 8.11 7.61
Deal Terms
Description of Consideration

Jennings Union shareholders received FFBC common in the amount of 1.65x 6/30/92 book value. The number of shares to be issued was collared at 242,400 and 323,200. Seller's financials are for Union Bank & Trust Co.

Accounting Method Pooling of Interests
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? NA
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) 3.627900
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) 0
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes ProBank Austin
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Parrish Fryman Marcum
Seller Yes McConnell & Finnerty