Mergers and Acquisitions
Transaction Details
DD&F CONSULTING GROUP 
Deal Overview
Buyer:  First Arkansas Bancshares, Inc. (Click for buyer financial information)
Target:  Lake Hamilton Enterprises, Inc. (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 4/15/05   Announced Deal Value ($M) NA
Status Completed   Announced Deal Value Per Share ($) NA
Completion Date 9/2/05      
 
Deal Summary
Jacksonville, AR-based First Arkansas Bancshares announced a tentative agreement to acquire Little Rock, AR-based Lake Hamilton Enterprises Inc. and its unit First Team Bank. The proposed merger will result in First Arkansas ranking 19th in the state representing approximately 1% of total deposits of $38.7 billion in the state. First Arkansas plans to expand its market share by entering four new counties of Faulkner, Cleburne, Conway and Searcy. First Arkansas recently filed with the state's banking department protesting the application of Bank of the Ozarks' branch in Jacksonville, AR.

Deal Pricing Ratios
  Announcement Completion
Price / Book (%) NA 225.62
Price / Tangible Book (%) NA 247.45
Price / LTM EPS (x) NA 21.87
Price / Deposits (%) NA 20.81
Price / Assets (%) NA 17.64
Tang Book Premium / Core Deposits (%) NA 15.60


Deal Terms

Description of Consideration
First Arkansas Bancshares Inc. paid approximately $48.8 million in cash to acquire Lake Hamilton Enterprises Inc.
Accounting Method NA   Lockup Agreement No
In-State Transaction? Yes   Strike Price ($) 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) NA  
         
Consideration Breakout
Cash ($M)   48.8
Common Stock ($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 NA NA
 
Seller Yes DD&F Consulting Group
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer NA NA
 
Seller NA NA

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