Mergers & Acquisitions

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Deal Overview

Buyer:
CVB Financial Corp.
Actual Acquirer:
Chino Valley Bank
Target:
Western Industrial National Bank
Deal Type:
Bank & Thrift Company
Agreement Date:
11/17/1993
Announcement Date:
11/17/1993
Announced Deal Value ($ M):
13.50
Status:
Completed
Completion Date:
6/24/1994
Announced Deal Value Per Share ($ )
NA

Consideration Breakout
Cash ($M) 14.8

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 170.3 175.9
Price / Tangible Book (%) 170.3 175.9
Price / Earnings (x) 14.5 15.9
Price / Deposits (%) 32.30 40.79
Price / Assets (%) 27.05 33.05
Tangible Book Premium/ Deposits (%) 15.25 20.68
Deal Terms
Description of Consideration

Western Industrial shareholders received, in aggregate, $14,796,738 in cashfor all shares outstanding. Deal consideration included an adjustment for Western's earnings over the pending period.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) 5,971
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 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 No NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Manatt Phelps & Phillips LLP
Seller Yes Labowe Labowe & Hoffman