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M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: Zions Bancorporation
Actual Acquirer: Zions First National Bank
Target: First Western Bancorp
Deal Type: Bank & Thrift Company
Agreement Date11/2/1994
Announcement Date11/2/1994
Announced Deal Value ($M)9.80
Completion Date6/8/1995
Announced Deal Value Per Share ($)NA
Consideration Breakout
Common Stock ($M)12.0
Common Stock Issued260,000
Deal Pricing Ratios
Price / Book (%)226.9256.5
Price / Tangible Book (%)226.9256.5
Price / Earnings (x)9.813.6
Price / Deposits (%)31.8439.01
Price / Assets (%)26.5532.38
Tangible Book Premium/ Deposits (%)18.3124.56
Deal Terms
Description of Consideration
Zions issued 260,000 common shares to acquire First Western Bancorp and the 6.5% of First Western National Bank which the holding company did not own. Seller's financials are for First Western National Bank.
Accounting MethodPurchase
In-State Transaction?Yes
Merger of Equals?No
Geographic Expansion?In Market
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 ($000)NA
Exchange Ratio (Common For Common)6.140000
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Lockup AgreementNo
Strike Price ($)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
BuyerYesMetzger Hollis Gordon & Alprin
SellerYesCohne Rappaport & Segal P.C.

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