Mergers and Acquisitions
Transaction Details
DD&F CONSULTING GROUP 
Deal Overview
Buyer:  Ameribank Holding Company (Click for buyer financial information)
Target:  Boynton Holding Company, Incorporated (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 12/20/04   Announced Deal Value ($M) 0.8
Status Completed   Announced Deal Value Per Share ($) 6,782.61
Completion Date 8/1/05      
 
Deal Summary
Collinsville, OK-based Ameribank Holding Co. has agreed to acquire Muskogee, OK-based Boynton Holding Co. With the acquisition, Ameribank will enter Muskogee County, OK with a market share of 0.8% of approximately $881.7 million in total deposits. This deal marks the first acquisition by Ameribank. Announcement ratios are based on June 30, 2004 small parent equity of $1,195,000 and LTM net income of $94,000. Completion ratios are based on Dec. 2004 small parent equity of $670,000 and LTM net loss of $448,000.

Deal Pricing Ratios
  Announcement Completion
Price / Book (%) 80.66 176.47
Price / Tangible Book (%) 81.59 191.65
Price / LTM EPS (x) 8.30 NM
Price / Deposits (%) 9.68 11.11
Price / Assets (%) 8.38 10.04
Tang Book Premium / Core Deposits (%) (2.49) 5.63


Deal Terms

Description of Consideration
Ameribank paid $6,782.61 in cash for each outstanding common and preferred share of Boynton Holding Co. Buyer's financials are for American Bank of Oklahoma. Seller's financials are for Territory Bank.
Accounting Method NA   Lockup Agreement No
In-State Transaction? Yes   Strike Price ($) 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 ($M)   0.8
Common Stock ($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 Yes DD&F Consulting Group
 
Seller NA NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer NA NA
 
Seller NA NA

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