Mergers & Acquisitions

Source: SNL

Return to Mergers & Acquisitions

Deal Overview

Buyer:
Commerce Bancshares, Inc.
Actual Acquirer:
Commerce Bancshares, Inc.
Target:
First National Bank of Bonner Springs
Deal Type:
Bank & Thrift Company
Agreement Date:
11/4/1991
Announcement Date:
11/4/1991
Announced Deal Value ($ M):
1.00
Status:
Completed
Completion Date:
12/31/1992
Announced Deal Value Per Share ($ )
4.87

Consideration Breakout
Cash ($M) 1.0

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 140.7 124.7
Price / Tangible Book (%) 140.7 124.7
Price / Earnings (x) NM 11.1
Price / Deposits (%) 8.44 11.54
Price / Assets (%) 7.92 10.52
Tangible Book Premium/ Deposits (%) 2.81 2.55
Deal Terms
Description of Consideration

First National shareholders received, in aggregate, a base price of $1.05M which was to be adjusted downwards for outstanding loans to certain entities, and adjusted upwards for seller's equity in excess of $785,000.

Accounting Method Purchase
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? NA
Goodwill Generated ($ 000) 236
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