Mergers & Acquisitions

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Deal Overview

Buyer:
Rurban Financial Corp.
Actual Acquirer:
Rurban Financial Corp.
Target:
NBM Bancorp, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
5/22/2008
Announcement Date:
5/23/2008
Announced Deal Value ($ M):
25.00
Status:
Completed
Completion Date:
12/1/2008
Announced Deal Value Per Share ($ )
113.98

Consideration Breakout
Cash ($M) 25.0

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 137.6 139.5
Price / Tangible Book (%) 137.6 139.5
Price / Earnings (x) 27.7 30.2
Price / Deposits (%) 27.88 28.47
Price / Assets (%) 22.90 23.51
Tangible Book Premium/ Deposits (%) 8.18 8.68
Deal Terms
Description of Consideration

Rurban Financial Corp. paid $25.0 million in cash to acquire NBM Bancorp, Inc. Target's financials are for National Bank of Montpelier.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) 7,474
Estimated Cost Savings (%) 30.00
Estimated Cost Savings ($ 000) 802
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 1,000
Minimum Termination Fee ($ 000) 0
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) 1,411
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Stifel Nicolaus & Co.
Seller Yes Austin Associates LLC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Vorys Sater Seymour and Pease
Seller Yes Niehaus & Associates Ltd.