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Mergers & Acquisitions
M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: UMB Financial Corporation
Actual Acquirer: UMB Financial Corporation
Target: Highland Bancshares, Incorporated
Deal Type: Bank & Thrift Company
Agreement Date5/12/1992
Announcement Date5/12/1992
Announced Deal Value ($M)8.90
Completion Date5/17/1993
Announced Deal Value Per Share ($)447.58
Consideration Breakout
Cash ($M)1.6
Common Stock ($M)10.0
Common Stock Issued265,754
Deal Pricing Ratios
Price / Book (%)163.1152.6
Price / Tangible Book (%)163.1152.6
Price / Earnings (x)11.419.2
Price / Deposits (%)11.2715.66
Price / Assets (%)8.4912.35
Tangible Book Premium/ Deposits (%)4.974.10
Deal Terms
Description of Consideration
Highland shareholders received 1.5x Highland Park B&T equity adjusted for special reserves, less holding company debt. Seller's financials are for Highland Park B&T, 94.66% owned by Highland Bancshares.
Accounting MethodPurchase
In-State Transaction?No
Merger of Equals?No
Geographic Expansion?NA
Goodwill Generated ($000)3,236
Estimated Cost Savings (%)NA
Estimated Cost Savings ($000)NA
Est. Restructuring Charges ($000)NA
Maximum Termination Fee ($000)NA
Minimum Termination Fee ($000)NA
Exchange Ratio (Common For Common)14.097900
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Lockup AgreementNA
Strike Price ($)NA
% of Shares OutstandingNA
Shares Under OptionNA
Core Deposit Intangibles ($000)NA
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name

Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesWatson Ess Marshall & Enggas
SellerYesLathrop Gage LLP

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