Mergers and Acquisitions
Transaction Details
Deal Overview
Buyer:  Century Financial Services Company (Click for buyer financial information)
Target:  Valley National Bank (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 8/14/14   Announced Deal Value ($M) NA
Status Completed   Announced Deal Value Per Share ($) NA
Completion Date 1/16/15      
Deal Summary
Santa Fe, N.M.-based Century Financial Services Co. unit Century Bank has purchased certain assets (specified loans, investments and property) and assumed all deposits of Espanola, N.M.-based Valley National Bank. Century Financial Services Co. will expand in Rio Arriba County, N.M., by one branch to be ranked first with a 57.84% share of approximately $367.11 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
The terms of the cash deal were not disclosed.
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 DD&F Consulting Group
Seller Yes KPMG Corporate Finance LLC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Bracewell LLP
Seller Yes Luse Gorman PC

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