Mergers & Acquisitions

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Deal Overview

Buyer:
German American Bancorp, Inc.
Actual Acquirer:
German American Bancorp
Target:
American Community Bancorp, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
10/4/2010
Announcement Date:
10/4/2010
Announced Deal Value ($ M):
30.01
Status:
Completed
Completion Date:
1/1/2011
Announced Deal Value Per Share ($ )
14.25

Consideration Breakout
Cash ($M) 4.0
Common Stock ($M) 26.4
Common Stock Issued 1,448,520

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 131.4 138.1
Price / Tangible Book (%) 131.4 138.1
Price / Earnings (x) 25.9 23.3
Price / Deposits (%) 12.27 12.70
Price / Assets (%) 13.74 14.02
Tangible Book Premium/ Deposits (%) 6.06 6.43
Deal Terms
Description of Consideration

German American Bancorp Inc. exchanged 0.725 share and paid $2.00 in cash for each common share of American Community Bancorp Inc. American Community Bancorp Inc. also paid cash dividend at $2.00 per share to the shareholders and also assumed debt of approximately $8.3 million.

Accounting Method Acquisition
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) 9,030
Estimated Cost Savings (%) 30.00
Estimated Cost Savings ($ 000) 2,136
Est. Restructuring Charges ($ 000) 2,200
Maximum Termination Fee ($ 000) 1,500
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) 0.725000
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) 3,678
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Keefe Bruyette & Woods Inc.
Seller Yes Stifel Nicolaus & Co.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Ice Miller LLP
Seller Yes Lewis Rice