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M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: Zions Bancorporation
Actual Acquirer: National Bank of Arizona
Target: County Bank
Deal Type: Bank & Thrift Company
Agreement Date1/10/2000
Announcement Date1/10/2000
Announced Deal Value ($M)66.80
StatusCompleted
Completion Date7/28/2000
Announced Deal Value Per Share ($)NA
Consideration Breakout
Common Stock ($M)55.9
Deal Pricing Ratios
 AnnouncementCompletion
Price / Book (%)334.8245.8
Price / Tangible Book (%)334.8245.8
Price / Earnings (x)17.513.1
Price / Deposits (%)30.4925.02
Price / Assets (%)27.8922.67
Tangible Book Premium/ Deposits (%)23.1016.08
Deal Terms
Description of Consideration
Zions issued 1.2 million shares and options plus additional shares and options with a value of $2,494,980 for all outstanding shares and options of County Bank.
Accounting MethodPooling of Interests
In-State Transaction?No
Merger of Equals?No
Geographic Expansion?In Market
Goodwill Generated ($000)0
Estimated Cost Savings (%)NA
Estimated Cost Savings ($000)NA
Est. Restructuring Charges ($000)NA
Maximum Termination Fee ($000)1,000
Minimum Termination Fee ($000)NA
Exchange Ratio (Common For Common)NA
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Lockup AgreementNo
Strike Price ($)NA
% of Shares OutstandingNA
Shares Under OptionNA
Core Deposit Intangibles ($000)NM
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
BuyerNoNA
SellerYesSheshunoff & Co.

Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesDuane Morris LLP
SellerYesGallagher & Kennedy

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