Mergers and Acquisitions
Transaction Details
Deal Overview
Buyer:  Arvest Bank Group, Inc. (Click for buyer financial information)
Target:  First National Bank of Huntsville (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 9/3/99   Announced Deal Value ($M) 19.4
Status Completed   Announced Deal Value Per Share ($) 1,618.75
Completion Date 11/18/99      
Deal Summary
Arvest Bank Group announces another deal that will increase its presence in its home state of Arkansas. The deal will allow Arvest to pick up two branches and a first place rank in Madison County, AR with 53.51% of the deposit market share there. Arvest previously had no presence in that area.

Deal Pricing Ratios
  Announcement Completion
Price / Book (%) 145.65 141.82
Price / Tangible Book (%) 145.65 141.82
Price / LTM EPS (x) 18.05 18.25
Price / Deposits (%) 27.90 27.84
Price / Assets (%) 23.26 23.16
Tang Book Premium / Core Deposits (%) 9.70 9.05

Deal Terms

Description of Consideration
Arvest Bank Group paid $1,618.75 cash for each First National share held.
Accounting Method NA   Lockup Agreement No
In-State Transaction? Yes   Strike Price ($) NA
Merger of Equals? No   % of Shares Outstanding NA
Geographic Expansion? Market Expansion   Shares Under Option NA
Goodwill Generated ($000) NA   Core Deposit Intangibles ($000) NA
Estimated Cost Savings (%) NA   Est. Restructuring Charges ($000) NA
Termination Fee ($000) 0  
Consideration Breakout
Cash ($M)   19.4
Common Stock ($M)   0
Common Shares Issued   0
Preferred Stock ($M)   0
Preferred Shares Issued   0
Debt ($M)   0
Other ($M)   0

Deal Advisers

Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes DD&F Consulting Group
Seller Yes DD&F Consulting Group
Ferguson & Co.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer NA NA
Seller NA NA

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