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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: Del Amo Savings Bank, FSB
Deal Type: Bank & Thrift Company
Agreement Date11/21/1997
Announcement Date11/21/1997
Announced Deal Value ($M)11.70
Completion Date4/3/1998
Announced Deal Value Per Share ($)21.54
Consideration Breakout
Common Stock ($M)11.4
Common Stock Issued253,000
Deal Pricing Ratios
Price / Book (%)179.0165.6
Price / Tangible Book (%)179.0165.6
Price / Earnings (x)NM21.7
Price / Deposits (%)11.6811.23
Price / Assets (%)10.389.95
Tangible Book Premium/ Deposits (%)6.125.79
Deal Terms
Description of Consideration
City Holding issued approximately 253,000 shares of common stock in exchange for all the outstanding shares and options of Del Amo.
Accounting MethodPurchase
In-State Transaction?No
Merger of Equals?No
Geographic Expansion?Market Expansion
Goodwill Generated ($000)3,684
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
BuyerYesBaxter Fentriss & Company
SellerYesHovde Financial Inc.

Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesHunton & Williams LLP
SellerYesMcAndrews Allen & Matson PC

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