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M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: Zions Bancorporation
Actual Acquirer: Vectra Bank Colorado
Target: Eagle Bank
Deal Type: Bank & Thrift Company
Agreement Date6/3/1998
Announcement Date6/3/1998
Announced Deal Value ($M)11.50
Completion Date8/31/1998
Announced Deal Value Per Share ($)345.07
Consideration Breakout
Common Stock ($M)9.0
Common Stock Issued230,000
Deal Pricing Ratios
Price / Book (%)425.5311.7
Price / Tangible Book (%)425.5311.7
Price / Earnings (x)16.711.8
Price / Deposits (%)30.0924.02
Price / Assets (%)27.7022.07
Tangible Book Premium/ Deposits (%)24.4017.33
Deal Terms
Description of Consideration
Zions exchanged 6.85 shares for each Eagle share held.
Accounting MethodPooling of Interests
In-State Transaction?No
Merger of Equals?No
Geographic Expansion?Partial Overlap
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 ($000)NA
Exchange Ratio (Common For Common)6.850000
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Lockup AgreementNo
Strike Price ($)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
SellerYesRobinson Waters & O'Dorisio, P

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