Mergers and Acquisitions
Transaction Details
DD&F CONSULTING GROUP 
Deal Overview
Buyer:  First National Bancorp, Inc. (Click for buyer financial information)
Target:  Twin Lakes Community Bank (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 10/21/15   Announced Deal Value ($M) 15.3
Status Completed   Announced Deal Value Per Share ($) NA
Completion Date 12/20/15      
 
Deal Summary
Green Forest, Ark.-based First National Bancorp Inc. has acquired Flippin, Ark.-based Twin Lakes Community Bank from Wynne, Ark.-based First National Corp. of Wynne. First National Bancorp Inc. will enter Baxter County, Ark., with two branches to be ranked sixth with a 5.76% share of approximately $916.94 million in total market deposits and will enter Marion, County, Ark., with one branch to be ranked second with a 16.12% share of approximately $236.08 million in total market deposits.

Deal Pricing Ratios
  Announcement Completion
Price / Book (%) 145.15 141.92
Price / Tangible Book (%) 148.31 144.94
Price / LTM EPS (x) 13.97 13.47
Price / Deposits (%) 16.84 16.44
Price / Assets (%) 14.00 13.57
Tang Book Premium / Core Deposits (%) 8.81 8.21


Deal Terms

Description of Consideration
First National Bancorp Inc. paid approximately $15.3 million in cash for all of the outstanding shares of Twin Lakes Community Bank.
Accounting Method NA   Lockup Agreement No
In-State Transaction? Yes   Strike Price ($) NA
Merger of Equals? No   % of Shares Outstanding NA
Geographic Expansion? Market Expansion   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 ($M)   15.3
Common Stock ($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 NA NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes McAfee & Taft
 
Seller Yes Dover Dixon Horne PLLC

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