Mergers & Acquisitions

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Deal Overview

Buyer:
First Financial Bancorp.
Actual Acquirer:
First Financial Bancorp.
Target:
Fidelity Federal Savings Bank
Deal Type:
Bank & Thrift Company
Agreement Date:
12/1/1989
Announcement Date:
12/1/1989
Announced Deal Value ($ M):
12.30
Status:
Completed
Completion Date:
9/21/1990
Announced Deal Value Per Share ($ )
20.00

Consideration Breakout
Common Stock ($M) 10.6
Common Stock Issued 325,755

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 105.7 88.5
Price / Tangible Book (%) 105.7 88.5
Price / Earnings (x) 22.2 24.2
Price / Deposits (%) 16.77 15.04
Price / Assets (%) 14.27 12.69
Tangible Book Premium/ Deposits (%) 1.00 (2.12)
Deal Terms
Description of Consideration

Fidelity Federal shareholders received $20 in First Financial common, subject to limits of between 0.352 shares and 0.528 shares for each share held. The final ratio was at the 0.528:1 cap.

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) 0.528000
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 NA NA
Seller Yes NatCity Investments Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Parrish Fryman Marcum
Seller Yes Brownstein Zeidman & Lore