Mergers & Acquisitions

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Deal Overview

German American Bancorp
Actual Acquirer:
German American Bancorp
Holland Bancorp, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
Announcement Date:
Announced Deal Value ($ M):
Completion Date:
Announced Deal Value Per Share ($ )

Consideration Breakout
Common Stock ($M) 12.3
Common Stock Issued 948,000

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 245.2 198.5
Price / Tangible Book (%) 245.2 198.5
Price / Earnings (x) 28.6 23.1
Price / Deposits (%) 29.44 24.19
Price / Assets (%) 24.34 19.90
Tangible Book Premium/ Deposits (%) 19.86 13.40
Deal Terms
Description of Consideration

German American issued 3.5 shares for each share of Holland Bancorp common stock held. Seller's financials are for Holland National Bank.

Accounting Method Pooling of Interests
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) 0
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 300
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 3.500000
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) NM
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes BKD Corporate Finance LLC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Ice Miller LLP
Seller Yes Bose McKinney & Evans LLP