Mergers and Acquisitions
Transaction Details
Deal Overview
Buyer:  Omaha Financial Holdings, Inc. (Click for buyer financial information)
Target:  Peak National Bank (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 5/4/07   Announced Deal Value ($M) 53.8
Status Completed   Announced Deal Value Per Share ($) NA
Completion Date 10/30/07      
Deal Summary
Omaha Financial Holdings Inc., a newly-formed subsidiary of Omaha, Neb.-based Mutual of Omaha Insurance Co., has agreed to acquire Nederland, Colo.-based Peak National Bank from Golden, Colo.-based Peak Banks of Colorado Inc. Peak National Bank currently operates seven branches in Colorado, ranked No. 59 with a 0.3% share of $76.3 billion in total market deposits. According to the release, Mutual of Omaha Insurance Co. formed Omaha Financial Holdings Inc., in January of 2007 to pursue banking initiatives.

Deal Pricing Ratios
  Announcement Completion
Price / Book (%) 263.21 232.69
Price / Tangible Book (%) 268.80 237.06
Price / LTM EPS (x) 14.15 14.15
Price / Deposits (%) 28.97 28.70
Price / Assets (%) 25.89 25.39
Tang Book Premium / Core Deposits (%) 21.03 18.98

Deal Terms

Description of Consideration
Omaha Financial Holdings Inc. paid $53.75 million in cash to acquire Peak National Bank.
Accounting Method NA   Lockup Agreement No
In-State Transaction? No   Strike Price ($) 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) NA
Termination Fee ($000) NA  
Consideration Breakout
Cash ($M)   53.8
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
SAMCO Capital Markets Inc.
Seller Yes Keefe Bruyette & Woods Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Baird Holm LLP
Venable LLP
Seller Yes Rothgerber Johnson & Lyons LLP

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