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M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: Zions Bancorporation
Actual Acquirer: Zions First National Bank
Target: Wasatch Bank
Deal Type: Bank & Thrift Company
Agreement Date2/18/1993
Announcement Date2/18/1993
Announced Deal Value ($M)15.50
StatusCompleted
Completion Date10/29/1993
Announced Deal Value Per Share ($)29.71
Consideration Breakout
Common Stock ($M)15.8
Common Stock Issued373,335
Deal Pricing Ratios
 AnnouncementCompletion
Price / Book (%)274.6243.0
Price / Tangible Book (%)274.6243.0
Price / Earnings (x)10.89.5
Price / Deposits (%)25.1423.81
Price / Assets (%)22.7021.58
Tangible Book Premium/ Deposits (%)16.3114.23
Deal Terms
Description of Consideration
Wasatch Bancorp shareholder will received .7136 shares of Zions Bancorporation common stock. The exchange ratio was subject to change based on Wasatch's equity and earnings. Seller's fins are for Wasatch Bank.
Accounting MethodPooling of Interests
In-State Transaction?Yes
Merger of Equals?No
Geographic Expansion?Market Expansion
Goodwill Generated ($000)0
Estimated Cost Savings (%)NA
Estimated Cost Savings ($000)NA
Est. Restructuring Charges ($000)NA
Maximum Termination Fee ($000)NA
Minimum Termination Fee ($000)NA
Exchange Ratio (Common For Common)0.713600
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Lockup AgreementNo
Strike Price ($)NA
% of Shares OutstandingNA
Shares Under OptionNA
Core Deposit Intangibles ($000)NM
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
BuyerNoNA

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

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