Mergers & Acquisitions

Source: SNL

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Deal Overview

Buyer:
Commerce Bancshares, Inc.
Actual Acquirer:
Commerce Bank NA
Target:
Moniteau National Bank of California
Deal Type:
Bank & Thrift Company
Agreement Date:
4/6/1994
Announcement Date:
4/6/1994
Announced Deal Value ($ M):
3.10
Status:
Completed
Completion Date:
10/1/1994
Announced Deal Value Per Share ($ )
4,066.67

Consideration Breakout
Common Stock ($M) 2.8
Common Stock Issued 93,942

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 126.3 111.5
Price / Tangible Book (%) 126.3 111.5
Price / Earnings (x) 9.9 7.9
Price / Deposits (%) 9.90 9.36
Price / Assets (%) 9.16 8.61
Tangible Book Premium/ Deposits (%) 2.14 0.99
Deal Terms
Description of Consideration

Moniteau National shareholders received 125.256 shares of Commerce common stock for share held. The exchange ratio was collared between Commerce's stock prices of $29.25 and $33.25.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) 405
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) NA
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 125.256000
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) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Blackwell Sanders Peper Martin
Seller Yes Hawk & Assoc.