Online Banking LoginE-Statement Login

M&A History<< Return to Mergers & Acquisitions
 Deal Overview
Buyer: FNB Corp.
Target: Dover Mortgage Company
Deal Type: Specialty Finance Company
Announcement Date2/21/2003
Announced Deal Value ($M)5.6
StatusCompleted
Completion Date4/1/2003
Consideration Breakout
Cash ($M)2.9
Common Stock ($M)3.2
Common Stock Issued126,140

 Deal Pricing Ratios
 AnnouncementCompletion
Price / Book (%)NANA
Price / Earnings (x)NANA
Price / Revenue (x)NANA
Price / Net Receivables (%)NANA
Price / Managed Receivables (%)NANA
 Deal Terms
Description of Consideration
FNB acquired Dover Mortgage for $2.9M in cash and 126,140 shares of FNB common stock. Additional cash consideration, based on Dover's pretax net income, may be paid during the 4 years following completion.
Percent Acquired (%)100.00
Purchase MethodPurchase
Merger of Equals?NA
Estimated Cost Savings (%)NA
Estimated Cost Savings ($000)NA
Est. Restructuring Charges ($000)NA
 Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
BuyerYesRyan Beck & Co.
SellerYesOrr Group LLC

 Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesSchell Bray Aycock Abel
SellerYesBlanco Tackabery et al.

Copyright 2013, © SNL Financial LC  Terms of Use