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Mergers & Acquisitions
M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: Capital City Bank Group, Inc.
Actual Acquirer: Capital City Bank Group, Inc.
Target: First Bankshares of West Point, Inc.
Deal Type: Bank & Thrift Company
Agreement Date9/26/2000
Announcement Date9/26/2000
Announced Deal Value ($M)16.90
Completion Date3/5/2001
Announced Deal Value Per Share ($)87.86
Consideration Breakout
Cash ($M)3.4
Common Stock ($M)16.6
Common Stock Issued701,000
Deal Pricing Ratios
Price / Book (%)108.7125.2
Price / Tangible Book (%)113.1129.9
Price / Earnings (x)30.335.8
Price / Deposits (%)16.1817.48
Price / Assets (%)11.5412.74
Tangible Book Premium/ Deposits (%)2.044.31
Deal Terms
Description of Consideration
First Bankshares of West Point shareholders received $17.7543 in cash and 3.6419 shares of Capital City common stock for each share outstanding.
Accounting MethodPurchase
In-State Transaction?No
Merger of Equals?No
Geographic Expansion?Market Expansion
Goodwill Generated ($000)5,500
Estimated Cost Savings (%)NA
Estimated Cost Savings ($000)NA
Est. Restructuring Charges ($000)NA
Maximum Termination Fee ($000)0
Minimum Termination Fee ($000)NA
Exchange Ratio (Common For Common)3.64
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Lockup AgreementYes
Strike Price ($)80.4200
% of Shares Outstanding19.90
Shares Under Option38,303
Core Deposit Intangibles ($000)NA
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
BuyerYesMcConnell Budd & Romano Inc.
SellerYesBurke Capital Group, LLC

Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesGunster Yoakley & Stewart PA
SellerYesPowell Goldstein LLP

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