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M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: Zions Bancorporation
Actual Acquirer: Vectra Bank Colorado NA
Target: Mountain Financial Holding Company
Deal Type: Bank & Thrift Company
Agreement Date5/15/1998
Announcement Date5/15/1998
Announced Deal Value ($M)31.50
Completion Date10/30/1998
Announced Deal Value Per Share ($)629.28
Consideration Breakout
Common Stock ($M)31.4
Common Stock Issued610,000
Deal Pricing Ratios
Price / Book (%)409.0375.0
Price / Tangible Book (%)409.0375.0
Price / Earnings (x)20.518.7
Price / Deposits (%)40.9438.39
Price / Assets (%)36.9134.59
Tangible Book Premium/ Deposits (%)35.6732.65
Deal Terms
Description of Consideration
Zions exchanged 12.16 shares for each Mountain share held. Seller's financials are for Mountain National Bank.
Accounting MethodPooling of Interests
In-State Transaction?No
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)500
Minimum Termination Fee ($000)NA
Exchange Ratio (Common For Common)12.160000
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Lockup AgreementNo
Strike Price ($)NA
% of Shares OutstandingNA
Shares Under OptionNA
Core Deposit Intangibles ($000)NM
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name

Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesDuane Morris LLP
SellerYesHendricks Hendricks & Shakes

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