Deal Overview |
Buyer:
Family Security Credit Union (Click for buyer financial information)
|
Target:
Bank of Pine Hill (Click for target financial information) |
Deal Type:
Bank & Thrift Company |
Announcement Date |
8/16/16 |
|
Announced Deal Value ($M) |
1.7 |
Status |
Completed |
|
Announced Deal Value Per Share ($) |
NA
|
Completion Date |
3/3/17 |
|
|
|
|
Decatur, Ala.-based Family Security Credit Union has acquired substantially all of the assets and assumed substantially all of the liabilities of Pine Hill, Ala.-based Bank of Pine Hill. Bank of Pine Hill operates one branch in Wilcox County, Ala. ranked third with a 13.63% share of approximately $156.20 million in total market deposits.
|
|
Deal Pricing Ratios |
Price / Book (%) |
52.64 |
61.19 |
Price / Tangible Book (%) |
52.64 |
61.19 |
Price / LTM EPS (x) |
NM |
NM |
Price / Deposits (%) |
8.06 |
9.98 |
Price / Assets (%) |
6.97 |
8.58 |
Tang Book Premium / Core Deposits (%) |
(8.94) |
(8.31) |
|
Deal Terms
|
Description
of Consideration
Family Security Credit Union paid approximately $1.73 million in cash to acquire substantially all of the assets and to assume substantially all of the liabilities of Bank of Pine Hill.
|
Accounting Method |
NA |
|
Lockup Agreement |
No |
In-State Transaction? |
Yes |
|
Strike Price ($) |
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 ($000) |
NA |
|
|
|
|
|
|
Cash ($M) |
|
1.7 |
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 |
Buyer |
NA |
NA |
|
Seller |
Yes |
DD&F Consulting Group Porter White & Co. |
Legal
Counsel |
Buyer |
NA |
NA |
|
Seller |
NA |
NA |
|