Mergers & Acquisitions

Source: SNL

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Deal Overview

Buyer:
Commerce Bancshares, Inc.
Actual Acquirer:
Commerce Bank, NA
Target:
Boone National S&LA
Deal Type:
Bank & Thrift Company
Agreement Date:
4/4/2006
Announcement Date:
4/4/2006
Announced Deal Value ($ M):
31.64
Status:
Completed
Completion Date:
7/20/2006
Announced Deal Value Per Share ($ )
NA

Consideration Breakout
Cash ($M) 31.6

Deal Terms
Description of Consideration

Commerce Bancshares Inc. has paid $31.6 million in cash to acquire the banking assets of Boone National Savings & Loan Association FA.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) 15,611
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 0
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) 2,560
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Hovde Financial Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Bryan Cave Leighton Paisner