Mergers and Acquisitions
Transaction Details
Deal Overview
Buyer:  Grand Bancorp, Inc. (Click for buyer financial information)
Target:  Decatur State Bank (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 10/7/14   Announced Deal Value ($M) 6.0
Status Completed   Announced Deal Value Per Share ($) NA
Completion Date 12/29/14      
Deal Summary
Grove, Okla.-based Grand Bancorp Inc. unit Grand Savings Bank has acquired Decatur, Ark.-based Decatur State Bank from Danville, Ark.-based Chambers Bancshares Inc. Grand Bancorp Inc. will expand in Benton County, Ark., by three branches to be ranked second with a 3.55% share of approximately $4.01 billion in total market deposits.

Deal Pricing Ratios
  Announcement Completion
Price / Book (%) 38.54 37.04
Price / Tangible Book (%) 38.99 37.43
Price / LTM EPS (x) 193.55 6.73
Price / Deposits (%) 4.70 5.34
Price / Assets (%) 4.17 4.66
Tang Book Premium / Core Deposits (%) (14.36) (15.72)

Deal Terms

Description of Consideration
This is an all cash transaction where Grand Bancorp Inc. has acquired Decatur State Bank at a book value not to exceed $6,000,000.
Accounting Method NA   Lockup Agreement No
In-State Transaction? No   Strike Price ($) 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) NA
Termination Fee ($000) NA  
Consideration Breakout
Cash ($M)   6.0
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 NA NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer NA NA
Seller NA NA

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