Mergers & Acquisitions

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Deal Overview

Rurban Financial Corporation
Actual Acquirer:
Rurban Financial Corporation
Citizens Savings Bank Company
Deal Type:
Bank & Thrift Company
Agreement Date:
Announcement Date:
Announced Deal Value ($ M):
Completion Date:
Announced Deal Value Per Share ($ )

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 117.80 NA
Price / Tangible Book (%) 117.80 NA
Price / Earnings (x) 12.91 NA
Price / Deposits (%) 9.17 NA
Price / Assets (%) 8.44 NA
Tangible Book Premium/ Deposits (%) 1.47 NA
Deal Terms
Description of Consideration

Citizens Savings Bank shareholders received in aggregate $2,332,000 in cash and 76,000 shares of Rurban Financial common.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Market Expansion
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) 1.055600
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 Yes Austin Associates LLC
Seller Yes KeyBanc Capital Markets Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Vorys Sater Seymour and Pease
Seller Yes Caughey Kuhlman Beck