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M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: Zions Bancorporation
Actual Acquirer: Zions First National Bank
Target: Rio Salado Bancorp, Inc.
Deal Type: Bank & Thrift Company
Agreement Date11/18/1993
Announcement Date11/18/1993
Announced Deal Value ($M)12.50
Completion Date5/2/1994
Announced Deal Value Per Share ($)NA
Consideration Breakout
Common Stock ($M)12.6
Common Stock Issued328,000
Deal Pricing Ratios
Price / Book (%)284.3246.1
Price / Tangible Book (%)284.3246.1
Price / Earnings (x)14.210.5
Price / Deposits (%)14.2613.69
Price / Assets (%)12.2611.76
Tangible Book Premium/ Deposits (%)10.269.17
Deal Terms
Description of Consideration
Rio Salado Bancorp shareholders received in aggregate approximately 328,000shares of Zions Bancorporation common stock.
Accounting MethodPurchase
In-State Transaction?No
Merger of Equals?No
Geographic Expansion?In Market
Goodwill Generated ($000)7,600
Estimated Cost Savings (%)NA
Estimated Cost Savings ($000)NA
Est. Restructuring Charges ($000)NA
Maximum Termination Fee ($000)NA
Minimum Termination Fee ($000)NA
Exchange Ratio (Common For Common)0.510100
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Lockup AgreementNo
Strike Price ($)NA
% of Shares OutstandingNA
Shares Under OptionNA
Core Deposit Intangibles ($000)NA
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
SellerYesSheshunoff & Co.

Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesMetzger Hollis Gordon & Alprin
SellerYesRyley Carlock & Applewhite

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