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M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: Zions Bancorporation
Actual Acquirer: Zions Bancorporation
Target: Tri-State Bank
Deal Type: Bank & Thrift Company
Agreement Date5/1/1997
Announcement Date5/1/1997
Announced Deal Value ($M)8.00
Completion Date7/11/1997
Announced Deal Value Per Share ($)303.89
Consideration Breakout
Common Stock ($M)9.1
Common Stock Issued253,971
Deal Pricing Ratios
Price / Book (%)288.3327.9
Price / Tangible Book (%)288.3327.9
Price / Earnings (x)19.722.4
Price / Deposits (%)37.1642.26
Price / Assets (%)32.7737.28
Tangible Book Premium/ Deposits (%)24.9730.23
Deal Terms
Description of Consideration
Tri-State shareholders received 9.6092 shares of Zions' common stock for each share held.
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)NA
Minimum Termination Fee ($000)NA
Exchange Ratio (Common For Common)9.609200
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Lockup AgreementNA
Strike Price ($)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

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