Mergers & Acquisitions

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Deal Overview

Buyer:
Rurban Financial Corporation
Actual Acquirer:
Rurban Financial Corporation
Target:
First National Bank of Ottawa
Deal Type:
Bank & Thrift Company
Agreement Date:
7/20/1990
Announcement Date:
7/20/1990
Announced Deal Value ($ M):
5.30
Status:
Completed
Completion Date:
1/30/1991
Announced Deal Value Per Share ($ )
53.37

Consideration Breakout
Cash ($M) 2.4
Common Stock ($M) 2.9
Common Stock Issued 105,000

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 144.0 133.4
Price / Tangible Book (%) 144.0 133.4
Price / Earnings (x) 14.8 13.7
Price / Deposits (%) 16.53 17.12
Price / Assets (%) 14.68 15.03
Tangible Book Premium/ Deposits (%) 5.48 4.67
Deal Terms
Description of Consideration

Ottawa shareholders received, at their option, 1.75 shares of Rurban common stock, or $61.25 in cash for each share held, adjusted such that total cash paid was $2,449,600, and Rurban issued 105,000 common shares.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? NA
Goodwill Generated ($ 000) 1,185
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) 1.750000
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
Seller Yes Austin Associates LLC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Vorys Sater Seymour and Pease
Seller Yes Werner & Blank LLC