Deal Terms |
Description of Consideration |
Heritage Commerce issued 1,732,298 of its shares and paid approximately $24.0 million in cash to acquire all outstanding common stock of Diablo Valley Bank. Options were exchanged for cash. |
Accounting Method | Purchase |
In-State Transaction? | Yes |
Merger of Equals? | No |
Geographic Expansion? | In Market |
Goodwill Generated ($000) | 43,457 |
Estimated Cost Savings (%) | 33.62 |
Estimated Cost Savings ($000) | 2,000 |
Est. Restructuring Charges ($000) | 652 |
Maximum Termination Fee ($000) | 3,380 |
Minimum Termination Fee ($000) | 0 |
Exchange Ratio (Common For Common) | NA |
Exchange Ratio (Common For Preferred) | NA |
Exchange Ratio (Preferred For Common) | NA |
Exchange Ratio (Preferred For Preferred) | NA |
Lockup Agreement | No |
Strike Price ($) | NA |
% of Shares Outstanding | NA |
Shares Under Option | NA |
Core Deposit Intangibles ($000) | 5,049 |