Mergers & Acquisitions

Source: SNL

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Deal Overview

Buyer:
Commerce Bancshares, Inc.
Actual Acquirer:
Commerce Bancshares, Inc.
Target:
Lenexa Bancorporation, Inc
Deal Type:
Bank & Thrift Company
Agreement Date:
1/24/1992
Announcement Date:
1/24/1992
Announced Deal Value ($ M):
3.90
Status:
Completed
Completion Date:
12/31/1992
Announced Deal Value Per Share ($ )
11.15

Consideration Breakout
Cash ($M) 3.8

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 255.7 208.2
Price / Tangible Book (%) 255.7 208.2
Price / Earnings (x) 8.9 8.7
Price / Deposits (%) 15.07 15.37
Price / Assets (%) 13.00 13.70
Tangible Book Premium/ Deposits (%) 9.56 8.09
Deal Terms
Description of Consideration

Lenexa shareholders received $11.2181 plus interest from agreement date until close. Seller's financials are for Lenexa National Bank.

Accounting Method Purchase
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? NA
Goodwill Generated ($ 000) 2,353
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 NA
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 No NA
Seller Yes Stinson LLP