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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: Hinton Financial Corporation
Deal Type: Bank & Thrift Company
Agreement Date6/7/1994
Announcement Date6/7/1994
Announced Deal Value ($M)15.80
Completion Date12/6/1994
Announced Deal Value Per Share ($)263.50
Consideration Breakout
Common Stock ($M)16.3
Common Stock Issued510,000
Deal Pricing Ratios
Price / Book (%)177.7179.6
Price / Tangible Book (%)177.7179.6
Price / Earnings (x)17.019.4
Price / Deposits (%)27.9027.96
Price / Assets (%)23.9824.00
Tangible Book Premium/ Deposits (%)13.3513.55
Deal Terms
Description of Consideration
Hinton shareholders received, in aggregate, 510,000 shares of City Holding common stock. The exchange ratio was collared between 8.50 and 9.75. Seller's financials are for the First National Bank of Hinton.
Accounting MethodPooling of Interests
In-State Transaction?Yes
Merger of Equals?No
Geographic Expansion?Market Expansion
Goodwill Generated ($000)0
Estimated Cost Savings (%)14.00
Estimated Cost Savings ($000)NA
Est. Restructuring Charges ($000)NA
Maximum Termination Fee ($000)NA
Minimum Termination Fee ($000)NA
Exchange Ratio (Common For Common)8.5000
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Lockup AgreementYes
Strike Price ($)234.0000
% of Shares Outstanding19.90
Shares Under Option14,940
Core Deposit Intangibles ($000)NM
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
SellerYesSunTrust Robinson Humphrey

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

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