|
Deal Terms
|
| Description of Consideration |
| Citizens Banking Corp. exchanged 0.4378 share and paid $2.08 in cash for each common share of Republic Bancorp Inc. |
|
Accounting Method
|
Purchase |
|
In-State Transaction?
|
Yes |
|
Merger of Equals?
|
No |
|
Geographic Expansion?
|
In Market |
|
Goodwill Generated ($000)
|
727,108 |
|
Estimated Cost Savings (%)
|
NA |
|
Estimated Cost Savings ($000)
|
NA |
|
Est. Restructuring Charges ($000)
|
20,800 |
|
Maximum Termination Fee ($000)
|
36,000 |
|
Minimum Termination Fee ($000)
|
0 |
|
Exchange Ratio (Common For Common)
|
0.4378 |
|
Exchange Ratio (Common For Preferred)
|
NA |
|
Exchange Ratio (Preferred For Common)
|
NM |
|
Exchange Ratio (Preferred For Preferred)
|
NA |
|
Lockup Agreement
|
No |
|
Strike Price ($)
|
NA |
|
% of Shares Outstanding
|
NA |
|
Shares Under Option
|
NA |
|
Core Deposit Intangibles ($000)
|
37,837 |
