Mergers and Acquisitions
Transaction Details
DD&F CONSULTING GROUP 
Deal Overview
Buyer:  Legacy BancShares, Inc. (Click for buyer financial information)
Target:  Gravett Bancshares, Inc. (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 5/2/18   Announced Deal Value ($M) NA
Status Completed   Announced Deal Value Per Share ($) NA
Completion Date 7/6/18      
 
Deal Summary
Springdale, Ark.-based Legacy BancShares Inc. has acquired Gravette, Ark.-based Gravett Bancshares Inc. Ratios at completion would be based on Gravett Bancshares Inc.'s December 31, 2017 small parent equity and LTM net income of $16,930,000 and $1,002,000 respectively. Legacy BancShares Inc. will expand in Benton County, Ark., by four branches to be ranked no. 10 with a 2.15% share of approximately $5.36 billion in total market deposits.

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
The terms of the cash deal were not disclosed. Buyer and Target financials are for Legacy National Bank and Bank of Gravett respectively.
Accounting Method NA   Lockup Agreement No
In-State Transaction? Yes   Strike Price ($) NA
Merger of Equals? No   % of Shares Outstanding NA
Geographic Expansion? In Market   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 ($M)   NA
Common Stock ($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 Capital Corporation LLC
 
Seller Yes DD&F Consulting Group
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Mitchell Williams Selig Gates
 
Seller Yes Kutak Rock LLP

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