Mergers & Acquisitions

Source: SNL

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Deal Overview

Buyer:
Commerce Bancshares, Inc.
Actual Acquirer:
Commerce Bank, NA
Target:
AMCORE Bank, NA
Deal Type:
Bank & Thrift Company
Agreement Date:
4/8/1992
Announcement Date:
4/8/1992
Announced Deal Value ($ M):
8.00
Status:
Completed
Completion Date:
12/1/1992
Announced Deal Value Per Share ($ )
41.43

Consideration Breakout
Cash ($M) 8.8

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 132.6 133.9
Price / Tangible Book (%) 132.6 133.9
Price / Earnings (x) NM NM
Price / Deposits (%) 9.18 10.96
Price / Assets (%) 8.31 9.82
Tangible Book Premium/ Deposits (%) 1.53 3.12
Deal Terms
Description of Consideration

AMCORE Financial sold its subsidiary, AMCORE Bank, to Commerce for $41.425 per common share (108,570 shares or 98.7% held) and $100 per preferred share (35,000 shares held).

Accounting Method Purchase
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) NA
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) 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) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Swords Associates Inc
Seller Yes Austin Associates LLC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Werner & Blank LLC