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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: Grady Holding Company
Deal Type: Bank & Thrift Company
Agreement Date2/12/1999
Announcement Date2/12/1999
Announced Deal Value ($M)31.30
Completion Date5/7/1999
Announced Deal Value Per Share ($)513.31
Consideration Breakout
Common Stock ($M)30.3
Common Stock Issued1,309,565
Deal Pricing Ratios
Price / Book (%)193.9182.1
Price / Tangible Book (%)193.9182.1
Price / Earnings (x)15.314.2
Price / Deposits (%)35.2532.22
Price / Assets (%)28.8426.43
Tangible Book Premium/ Deposits (%)20.5517.71
Deal Terms
Description of Consideration
Capital City exchanged 21.5 shares of common stock for each outstanding share of Grady Holding Company. Seller's financials are for First National Bank of Grady County.
Accounting MethodPooling of Interests
In-State Transaction?No
Merger of Equals?No
Geographic Expansion?Market Expansion
Goodwill Generated ($000)0
Estimated Cost Savings (%)NA
Estimated Cost Savings ($000)NA
Est. Restructuring Charges ($000)NA
Maximum Termination Fee ($000)0
Minimum Termination Fee ($000)NA
Exchange Ratio (Common For Common)21.5000
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Lockup AgreementNo
Strike Price ($)NA
% of Shares OutstandingNA
Shares Under OptionNA
Core Deposit Intangibles ($000)NM
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
BuyerYesMcConnell Budd & Romano Inc.
SellerYesCarson Medlin Co.

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

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