Mergers and Acquisitions
Transaction Details
DD&F CONSULTING GROUP 
Deal Overview
Buyer:  Southern Bancorp, Inc. (Click for buyer financial information)
Target:  Farmers Bank (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 1/24/17   Announced Deal Value ($M) 4.5
Status Completed   Announced Deal Value Per Share ($) NA
Completion Date 6/3/17      
 
Deal Summary
Arkadelphia, Ark.-based Southern Bancorp Inc. unit Southern Bancorp Bank has acquired Hamburg, Ark.-based Farmers Bank. Southern Bancorp Inc. will enter Ashley County, Ark., with one branch to be ranked fourth with a 13.25% share of approximately $282.04 million in total market deposits.

Deal Pricing Ratios
  Announcement Completion
Price / Book (%) 99.62 100.83
Price / Tangible Book (%) 99.62 100.83
Price / LTM EPS (x) NM NM
Price / Deposits (%) 11.97 11.79
Price / Assets (%) 10.66 10.54
Tang Book Premium / Core Deposits (%) (0.06) 0.12


Deal Terms

Description of Consideration
Southern Bancorp Inc. paid $4.5 million in cash and stock to acquire Farmers Bank.
Accounting Method NA   Lockup Agreement No
In-State Transaction? Yes   Strike Price ($) 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 ($M)   NA
Common Stock ($M)   NA
Common Shares Issued   NA
Preferred Stock ($M)   0
Preferred Shares Issued   0
Debt ($M)   0
Other ($M)   4.5

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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