| 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 |
|
