Mergers and Acquisitions
Transaction Details
Deal Overview
Buyer:  Investor group (Click for buyer financial information)
Target:  Grand Savings Bank (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 1/15/13   Announced Deal Value ($M) 21.8
Status Completed   Announced Deal Value Per Share ($) NA
Completion Date 4/1/13      
Deal Summary
A group of investors acquired Grove, Okla.-based Grand Savings Bank from Danville, Ark.-based Chambers Bancshares Inc. Grand Savings Bank operates two branches in Delaware County, Okla., ranked first with a 39.00% share of approximately $483.57 million in total market deposits.

Deal Pricing Ratios
  Announcement Completion
Price / Book (%) 100.87 98.71
Price / Tangible Book (%) 100.87 101.73
Price / LTM EPS (x) 9.34 77.10
Price / Deposits (%) 11.00 11.74
Price / Assets (%) 9.38 9.95
Tang Book Premium / Core Deposits (%) 0.12 0.25

Deal Terms

Description of Consideration
A group of investors paid $21.8 million in cash for each outstanding share of Grand Savings Bank.
Accounting Method NA   Lockup Agreement No
In-State Transaction? NA   Strike Price ($) 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)   21.8
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 No NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Mitchell Williams Selig Gates
Seller Yes Dover Dixon Horne PLLC

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