Mergers and Acquisitions
Transaction Details
DD&F CONSULTING GROUP 
Deal Overview
Buyer:  SouthCrest Financial Group, Inc. (Click for buyer financial information)
Target:  Maplesville Bancorp (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 8/11/06   Announced Deal Value ($M) 15.9
Status Completed   Announced Deal Value Per Share ($) NA
Completion Date 10/31/06      
 
Deal Summary
Fayetteville, Ga.-based SouthCrest Financial Group Inc. has agreed to acquire Maplesville, Ala.-based Maplesville Bancorp. SouthCrest Financial Group Inc. will enter Chilton County, Ala. with 2 branches to be ranked No. 4 with a 14.4% share of $360.5 million in total market deposits. Ratios are based on June 30, 2006 small parent Equity and LTM Net Income of $10,416,000 and $983,000, respectively.  

Deal Pricing Ratios
  Announcement Completion
Price / Book (%) 162.05 173.38
Price / Tangible Book (%) 162.05 173.38
Price / LTM EPS (x) 16.18 17.32
Price / Deposits (%) 29.43 31.49
Price / Assets (%) 24.49 26.20
Tang Book Premium / Core Deposits (%) 12.37 14.63


Deal Terms

Description of Consideration
SouthCrest Financial Group Inc. paid $2,915.44 in cash and exchanged 133.03 shares for each share of Maplesville Bancorp common stock and 17.01 shares for each share of Maplesville Bancorp preferred stock.
Accounting Method NA   Lockup Agreement No
In-State Transaction? No   Strike Price ($) 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) 254
Termination Fee ($000) NA  
Exchange Ratio
(Common For Common)
133.0300  
Exchange Ratio - Common For Preferred 17.0100  
         
Consideration Breakout
Cash ($M)   7.6
Common Stock ($M)   9.5
Common Shares Issued   371,135
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 No NA
 
Seller Yes DD&F Consulting Group
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Powell Goldstein LLP
 
Seller Yes Miller Hamilton Snider & Odom

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