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M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: Zions Bancorporation
Actual Acquirer: Vectra Bank Colorado NA
Target: Routt County National Bank Corporation
Deal Type: Bank & Thrift Company
Agreement Date1/22/1998
Announcement Date1/22/1998
Announced Deal Value ($M)28.60
Completion Date6/1/1998
Announced Deal Value Per Share ($)89.76
Consideration Breakout
Common Stock ($M)33.6
Common Stock Issued650,000
Deal Pricing Ratios
Price / Book (%)420.0492.8
Price / Tangible Book (%)420.0492.8
Price / Earnings (x)16.118.9
Price / Deposits (%)34.2840.27
Price / Assets (%)30.8136.19
Tangible Book Premium/ Deposits (%)35.2143.28
Deal Terms
Description of Consideration
Routt County shareholders received 2.04 shares of Zions common stock for each share held. Seller's financials are for First National Bank of Colorado.
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)0
Minimum Termination Fee ($000)NA
Exchange Ratio (Common For Common)2.040000
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Lockup AgreementNo
Strike Price ($)NA
% of Shares OutstandingNA
Shares Under OptionNA
Core Deposit Intangibles ($000)NA
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name

Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesDuane Morris LLP
SellerYesRobinson Waters & O'Dorisio, P

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