Mergers & Acquisitions

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Deal Overview

Buyer:
Independent Alliance Banks, Inc.
Actual Acquirer:
iAB Financial Bank
Target:
First State Bank, Bourbon, Indiana
Deal Type:
Bank & Thrift Company
Agreement Date:
10/8/2014
Announcement Date:
10/9/2014
Announced Deal Value ($ M):
18.35
Status:
Completed
Completion Date:
2/1/2015
Announced Deal Value Per Share ($ )
18,347.00

Consideration Breakout
Cash ($M) 18.0

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 112.4 114.0
Price / Tangible Book (%) 112.4 114.0
Price / Earnings (x) 28.9 48.8
Price / Deposits (%) 27.51 25.63
Price / Assets (%) 21.39 20.22
Tangible Book Premium/ Deposits (%) 3.55 3.65
Deal Terms
Description of Consideration

Independent Alliance Banks Inc. paid $18,000 in cash for each outstanding share of First State Bank Bourbon Indiana.

Accounting Method Acquisition
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) NA
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 546
Minimum Termination Fee ($ 000) 0
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 No
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Renninger & Associates
Seller Yes Sheshunoff & Co.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Krieg DeVault LLP
Seller Yes Bryan Cave LLP