Mergers and Acquisitions
Transaction Details
Deal Overview
Buyer:  Two Roa LLC (Click for buyer financial information)
Target:  RB Bancorporation (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 10/7/09   Announced Deal Value ($M) NA
Status Completed   Announced Deal Value Per Share ($) NA
Completion Date 3/26/10      
Deal Summary
Huntsville, Ala.-based Two Roa LLC has agreed to acquire 51% of Athens, Ala.-based RB Bancorp. RB Bancorp. currently operates 6 branches in Limestone County, Ala. ranked No. 3 with a 15.59% share of $789.4 million 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
Two Roa LLC paid approximately $7 million at a price of $13.00 per share to acquire 538,462 newly issued shares of RB Bancorporation, giving them an approximately 51% interest in the bank. Warrants on an additional approximate 107,672 shares would also be granted to Two Roa LLC. The proposed transaction resulted in approximately $6,500,000 of capital being infused into Reliance Bank with approximately $500,000 to remain in RB Bancorporation. The target's financials are for Reliance Bank.
Accounting Method NA   Lockup Agreement No
In-State Transaction? Yes   Strike Price ($) NA
Merger of Equals? No   % of Shares Outstanding NA
Geographic Expansion? NA   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 ($M)   NA
Common Shares Issued   NA
Preferred Stock ($M)   NA
Preferred Shares Issued   NA
Debt ($M)   NA
Other ($M)   NA

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 Yes Bradley Arant Boult Cummings
Seller NA NA

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