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M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: Zions Bancorporation
Actual Acquirer: Vectra Bank Colorado NA
Target: SBT Bankshares, Inc.
Deal Type: Bank & Thrift Company
Agreement Date12/22/1997
Announcement Date12/22/1997
Announced Deal Value ($M)26.90
Completion Date6/1/1998
Announced Deal Value Per Share ($)NA
Consideration Breakout
Common Stock ($M)28.2
Common Stock Issued546,403
Deal Pricing Ratios
Price / Book (%)623.8597.6
Price / Tangible Book (%)623.8597.6
Price / Earnings (x)19.117.7
Price / Deposits (%)40.9536.17
Price / Assets (%)36.4332.79
Tangible Book Premium/ Deposits (%)36.5931.56
Deal Terms
Description of Consideration
Zions issued 546,403 shares of its stock for all the outstanding shares of SBT. Seller's financials are for State B&T of Colorado Springs.
Accounting MethodPurchase
In-State Transaction?No
Merger of Equals?No
Geographic Expansion?Market Expansion
Goodwill Generated ($000)NA
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)NA
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
SellerYesProfessional Bank Consultants

Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesDuane Morris LLP
SellerYesMcKenna & Cuneo LLP

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