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Mergers & Acquisitions
M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: City Holding Company
Target: First Allegiance Financial Corp.
Deal Type: Specialty Finance Company
Agreement Date10/9/1997
Announcement Date10/9/1997
Announced Deal Value ($M)18.59
Completion Date10/9/1997
Consideration Breakout
Cash ($M)2.8
Common Stock ($M)12.0
Common Stock Issued300,000
Contingent Payments ($M)3.8
Deal Pricing Ratios
Price / Book (%)NANA
Price / Earnings (x)NANA
Price / Revenue (x)NANA
Price / Net Receivables (%)NANA
Price / Managed Receivables (%)NANA
Deal Terms
Description of Consideration
City Holding Co. acquired First Allegiance Financial Corp. for approximately $18.6M. The purchase price consists of 300,000 shares of City Holding Co. common stock, valued at $12.0M based on a closing price of 40.00 for City Holding stock on 10/8/97, $2.8M in cash, and an earnout provision for $3.8M.
Percent Acquired (%)100.00
Purchase MethodPurchase
Merger of Equals?NA
Estimated Cost Savings (%)NA
Estimated Cost Savings ($000)NA
Est. Restructuring Charges ($000)NA
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
BuyerYesWheat First Union

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

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