Mergers and Acquisitions
Transaction Details
DD&F CONSULTING GROUP 
Deal Overview
Buyer:  Arvest Bank Group, Inc. (Click for buyer financial information)
Target:  Assets and liabilities of Union Bank (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 1/27/12   Announced Deal Value ($M) 18.0
Status Completed   Announced Deal Value Per Share ($) NA
Completion Date 6/22/12      
 
Deal Summary
Bentonville, Ark.-based Arvest Bank Group Inc. unit Fayetteville, Ark.-based Arvest Bank has acquired assets and liabilities of Kansas City, Mo.-based Union Bank from an investor group including Mission, Kan.-based First Olathe Bancshares Inc. Arvest Bank Group Inc. will enter Clay County, Mo., with two branches to be ranked No.18 with a 1.78% share of approximately $3.23 billion in total market deposits, and will expand in Jackson County, Mo., by eight branches to be ranked tenth with a 2.13% share of approximately $17.67 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
Arvest Bank Group Inc. paid cash consideration up to a maximum of 100% of the book value of Union Bank.
Accounting Method NA   Lockup Agreement No
In-State Transaction? No   Strike Price ($) NA
Merger of Equals? No   % of Shares Outstanding NA
Geographic Expansion? Partial Overlap   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 ($M)   16.3
Common Stock ($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 Yes Hovde Financial Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Hilburn Calhoon Harper Prunisk
 
Seller Yes Stinson Leonard Street LLP

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