Mergers and Acquisitions
Transaction Details
DD&F CONSULTING GROUP 
Deal Overview
Buyer:  White River Bancshares Company (Click for buyer financial information)
Target:  Brinkley Bancshares, Inc. (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 11/30/06   Announced Deal Value ($M) NA
Status Completed   Announced Deal Value Per Share ($) NA
Completion Date 4/9/07      
 
Deal Summary
Fayetteville, Ark.-based White River Bancshares Co. unit Signature Bank agreed to acquire Brinkley, Ark.-based Brinkley Bancshares Inc. White River Bancshares Co. will enter Monroe County, Ark. with 2 branches to be ranked No. 1 with a 63.5% share of $182.1 million in total market deposits. Ratios at announcement based on June 30, 2006, small parent equity of $16,932,000 and LTM net-income of $2,607,000. Ratios at completion are based on small parent equity and LTM net income at Dec 31, 2006 of $19,071,000 and $2,528,000. Buyer's financials are for Signature Bank. Target's financials are for Bank of Brinkley.

Deal Pricing Ratios
  Announcement Completion
Price / Book (%) NA NA
Price / Tangible Book (%) NA NA
Price / LTM EPS (x) NA NA
Price / Deposits (%) NA NA
Price / Assets (%) NA NA
Tang Book Premium / Core Deposits (%) NA NA


Deal Terms

Description of Consideration
White River Bcshs issued 40,000 shares, paid $27 million in cash and a contingent payment of $1 million over a period of five years to acquire Brinkley Bcshs Inc.
Accounting Method NA   Lockup Agreement No
In-State Transaction? Yes   Strike Price ($) 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 ($M)   27.0
Common Stock ($M)   NA
Common Shares Issued   40,000
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
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Kutak Rock LLP
 
Seller Yes Quattlebaum Grooms Tull

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