Mergers and Acquisitions
Transaction Details
DD&F CONSULTING GROUP 
Deal Overview
Buyer:  Peoples Home Holding Company (Click for buyer financial information)
Target:  Peoples Bank (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 5/30/01   Announced Deal Value ($M) 0.9
Status Completed   Announced Deal Value Per Share ($) 280.61
Completion Date 8/31/01      
 
Deal Summary
The investor group comprising Peoples Home Holding will purchase 80% of the outstanding shares of Peoples Bank in Portland, AR from Mainline Bankshares of Portland. Peoples is the sole subsidiary of Mainline and operates a single branch in Ashley County where it ranks fifth of the six depository institutions present with 8.42% of the market's $231M deposits. Portland is located in the southeastern portion of Arkansas, nearly equidistant from the border with Louisiana and Mississippi. Peoples Home will pay 75% of the purchase price upon completion and the remaining portion in January 2002.

Deal Pricing Ratios
  Announcement Completion
Price / Book (%) 109.73 109.73
Price / Tangible Book (%) 109.73 109.73
Price / LTM EPS (x) NM NM
Price / Deposits (%) 22.13 22.13
Price / Assets (%) 17.81 17.81
Tang Book Premium / Core Deposits (%) 2.09 2.09


Deal Terms

Description of Consideration
Newly formed holding company, Peoples Home, acquired 80% of the stock of Peoples Bank from Mainline Bankshares of Portland Inc. for $897,952 in cash.
Accounting Method NA   Lockup Agreement No
In-State Transaction? Yes   Strike Price ($) 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 ($M)   0.9
Common Stock ($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 No NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Quattlebaum Grooms Tull
 
Seller Yes Friday Eldredge & Clark

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