Republic Bank & Trust

Mergers & Acquisitions

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Deal Overview

Buyer:
Republic Bancorp, Inc.
Actual Acquirer:
Republic Bank & Trust Company of IN
Target:
GulfStream Community Bank
Deal Type:
Bank & Thrift Company
Agreement Date:
6/9/2006
Announcement Date:
6/9/2006
Announced Deal Value ($ M):
18.10
Status:
Completed
Completion Date:
10/3/2006
Announced Deal Value Per Share ($ )
19.13

Consideration Breakout
Cash ($M) 18.1

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 201.99 200.75
Price / Tangible Book (%) 201.99 200.75
Price / Earnings (x) 44.91 46.77
Price / Deposits (%) 32.49 33.23
Price / Assets (%) 27.96 28.48
Tangible Book Premium/ Deposits (%) 16.41 16.68
Deal Terms
Description of Consideration

Republic Bancorp Inc. paid $18.1 million in cash to acquire GulfStream Community Bank.

Accounting Method Purchase
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 10,168
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 750
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) 601
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Hovde Financial Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Frost Brown Todd LLC
Seller Yes Smith Mackinnon PA