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Mergers & Acquisitions
M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: City Holding Company
Actual Acquirer: City Holding Company
Target: Frontier Bancorp
Deal Type: Bank & Thrift Company
Agreement Date3/15/1999
Announcement Date3/15/1999
Announced Deal Value ($M)15.10
Completion Date7/1/1999
Announced Deal Value Per Share ($)94.34
Consideration Breakout
Cash ($M)15.1
Deal Pricing Ratios
Price / Book (%)232.7225.3
Price / Tangible Book (%)232.7225.3
Price / Earnings (x)20.020.8
Price / Deposits (%)22.6422.56
Price / Assets (%)20.5420.31
Tangible Book Premium/ Deposits (%)16.2015.71
Deal Terms
Description of Consideration
Frontier Bancorp shareholders received $94.34 in cash for each share of common held. Seller's financials are for Frontier State Bank.
Accounting MethodPurchase
In-State Transaction?No
Merger of Equals?No
Geographic Expansion?In Market
Goodwill Generated ($000)NA
Estimated Cost Savings (%)NA
Estimated Cost Savings ($000)NA
Est. Restructuring Charges ($000)NA
Maximum Termination Fee ($000)0
Minimum Termination Fee ($000)NA
Exchange Ratio (Common For Common)NA
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Lockup AgreementNo
Strike Price ($)NA
% of Shares OutstandingNA
Shares Under OptionNA
Core Deposit Intangibles ($000)NA
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
SellerYesBaxter Fentriss & Company

Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesHunton & Williams LLP
SellerYesManatt Phelps & Phillips LLP

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