Mergers & Acquisitions


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Deal Overview

Buyer:
Old Second Bancorp, Inc.
Actual Acquirer:
Old Second Bancorp, Inc.
Target:
Kane County Bank
Deal Type:
Bank & Thrift Company
Agreement Date:
8/30/1991
Announcement Date:
8/30/1991
Announced Deal Value ($ M):
8.30
Status:
Completed
Completion Date:
2/28/1992
Announced Deal Value Per Share ($ )
291.95

Consideration Breakout
Cash ($M) 1.0
Common Stock ($M) 4.0
Common Stock Issued 120,522
Debt ($M) 4.1

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 205.0 197.1
Price / Tangible Book (%) 205.0 197.1
Price / Earnings (x) 12.5 16.4
Price / Deposits (%) 20.06 20.72
Price / Assets (%) 18.06 18.64
Tangible Book Premium/ Deposits (%) 11.06 11.96
Deal Terms
Description of Consideration

Kane County shareholders received 4.25 shares of Old Second, $36.30 cash, and an 8% note worth $145.20 for each share held. Old Second shares are assumed to have a market value of $33 per share.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? NA
Goodwill Generated ($ 000) 4,208
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) 4.250000
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
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Drendel Schanlaber Horwitz
Seller Yes Larson J. Ward