Mergers and Acquisitions
Transaction Details
DD&F CONSULTING GROUP 
Deal Overview
Buyer:  Southern Missouri Bancorp, Inc. (Click for buyer financial information)
Target:  Citizens State Bankshares of Bald Knob, Inc. (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 11/7/13   Announced Deal Value ($M) 5.9
Status Completed   Announced Deal Value Per Share ($) NA
Completion Date 2/21/14      
 
Deal Summary
Poplar Bluff, Mo.-based Southern Missouri Bancorp Inc. unit Southern Bank has acquired Bald Knob, Ark.-based Citizens State Bankshares of Bald Knob Inc. Ratios on completion are based on Citizens State Bankshares of Bald Knob Inc.'s December 31, 2013 small parent equity and LTM net income of $4,816,000 and $405,000 respectively. Southern Missouri Bancorp Inc. will expand in White County, Ark., by four branches to be ranked sixth with a 5.91% share of approximately $1.43 billion in total market deposits.

Deal Pricing Ratios
  Announcement Completion
Price / Book (%) 118.93 146.74
Price / Tangible Book (%) 118.93 146.74
Price / LTM EPS (x) 22.52 14.09
Price / Deposits (%) 10.05 9.16
Price / Assets (%) 8.45 8.12
Tang Book Premium / Core Deposits (%) 1.78 3.23


Deal Terms

Description of Consideration
Southern Missouri Bancorp Inc. paid approximately $5.7 million in cash to acquire all of the ouststanding shares of Citizens State Bankshares of Bald Knob Inc. Target's financials are for Citizens State Bank.
Accounting Method NA   Lockup Agreement No
In-State Transaction? No   Strike Price ($) 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) 256
Termination Fee ($000) NA  
         
Consideration Breakout
Cash ($M)   5.7
Common Stock ($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 NA NA
 
Seller Yes DD&F Consulting Group
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Silver Freedman Taff & Tiernan
 
Seller Yes McAfee & Taft

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