Mergers and Acquisitions
Transaction Details
DD&F CONSULTING GROUP 
Deal Overview
Buyer:  LINCO Bancshares, Inc. (Click for buyer financial information)
Target:  Centennial Bancshares Corporation (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 11/3/06   Announced Deal Value ($M) 9.8
Status Completed   Announced Deal Value Per Share ($) NA
Completion Date 1/23/07      
 
Deal Summary
Clayton, Mo.-based LINCO Bancshares Inc. has agreed to acquire Elsberry, Mo.-based Centennial Bancshares Corp. LINCO Bancshares Inc. entered Lincoln County, Mo., with one branch to be ranked No. 6 with a 5.7% share of $548.1 million in total market deposits. LINCO Bancshares Inc. was a newly formed bank holding company with the intent to acquire 100% of Centennial Banchsares Inc. Ratios at agreement are based on June 30, 2006 SP equity and LTM net income of $4,769,000 and $519,000, respectively. Ratios at completion are based on December 31, 2006 SP equity and LTM net income of $4,825,000 and $310,000.   

Deal Pricing Ratios
  Announcement Completion
Price / Book (%) 205.07 202.69
Price / Tangible Book (%) 205.07 202.69
Price / LTM EPS (x) 28.99 48.54
Price / Deposits (%) 33.24 31.81
Price / Assets (%) 28.15 27.39
Tang Book Premium / Core Deposits (%) 19.09 18.32


Deal Terms

Description of Consideration
LINCO Bancshares Inc. paid $9,500,000 in cash to acquire Centennial Bancshares Corp. Total consideration includes an estimated amount of $280,000 paid for a tax liability. Target's financials are for Bank of Lincoln County.
Accounting Method NA   Lockup Agreement No
In-State Transaction? Yes   Strike Price ($) 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 ($M)   9.8
Common Stock ($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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