Mergers & Acquisitions

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Deal Overview

Buyer:
First Financial Bancorp.
Actual Acquirer:
First Financial Bancorp.
Target:
Trustcorp Banks - Dunkirk and Hartford
Deal Type:
Bank & Thrift Company
Agreement Date:
6/1/1990
Announcement Date:
6/1/1990
Announced Deal Value ($ M):
11.70
Status:
Completed
Completion Date:
10/1/1990
Announced Deal Value Per Share ($ )
NA

Consideration Breakout
Cash ($M) 11.7

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 143.6 139.1
Price / Tangible Book (%) 143.6 139.1
Price / Earnings (x) 11.7 12.5
Price / Deposits (%) 16.08 16.01
Price / Assets (%) 14.24 14.04
Tangible Book Premium/ Deposits (%) 5.12 4.72
Deal Terms
Description of Consideration

First Financial paid Society Corporation $11.7 million for all outstanding shares of the two former Trustcorp banks.

Accounting Method Purchase
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? NA
Goodwill Generated ($ 000) NA
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) NA
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) NA