Mergers & Acquisitions

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Deal Overview

Buyer:
Grabill Bancorp
Actual Acquirer:
Grabill Bancorp
Target:
Marbanc Financial Corporation
Deal Type:
Bank & Thrift Company
Agreement Date:
11/23/2004
Announcement Date:
11/23/2004
Announced Deal Value ($ M):
38.83
Status:
Completed
Completion Date:
4/22/2005
Announced Deal Value Per Share ($ )
71.50

Consideration Breakout
Cash ($M) 5.6
Common Stock ($M) 33.3

Deal Pricing Ratios

Announcement Completion
Price / Book (%) NM NM
Price / Tangible Book (%) NM NM
Price / Earnings (x) NM NM
Price / Deposits (%) NM NM
Price / Assets (%) NM NM
Tangible Book Premium/ Deposits (%) NM NM
Deal Terms
Description of Consideration

Each share of Marbanc was exchanged for one share of IAB or $71.50 in cash. Each share of Grabill was exchanged for 116.1 shares of IAB or $7,900 in cash.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? Yes
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 13,856
Estimated Cost Savings (%) 25.32
Estimated Cost Savings ($ 000) 1,500
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) NA
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 1.0000
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) 4,892
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Renninger & Associates
Seller Yes Austin Financial Services
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Gerrish McCreary Smith PC
Seller Yes Gerrish McCreary Smith PC