Mergers & Acquisitions

Source: SNL

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Deal Overview

Buyer:
Commerce Bancshares, Inc.
Actual Acquirer:
Commerce Bancshares, Inc.
Target:
Lawrence County Bancshares, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
7/13/1993
Announcement Date:
7/13/1993
Announced Deal Value ($ M):
4.00
Status:
Completed
Completion Date:
12/1/1993
Announced Deal Value Per Share ($ )
832.52

Consideration Breakout
Common Stock ($M) 3.9
Common Stock Issued 140,000

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 143.6 140.0
Price / Tangible Book (%) 143.6 140.0
Price / Earnings (x) 8.3 7.8
Price / Deposits (%) 13.54 13.20
Price / Assets (%) 12.17 11.87
Tangible Book Premium/ Deposits (%) 4.67 4.28
Deal Terms
Description of Consideration

Lawrence County shareholders received 28.341 shares of Commerce Bancshares common stock. Seller's financials are for Lawrence County Bank. Exchange ratio was collared at $28.33 and $31.67 in CBSH stock.

Accounting Method Pooling of Interests
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? NA
Goodwill Generated ($ 000) 0
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) 28.341000
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) 0
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Stinson LLP