Mergers & Acquisitions

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Deal Overview

Buyer:
German American Bancorp, Inc.
Actual Acquirer:
German American Bancorp
Target:
United Commerce Bancorp
Deal Type:
Bank & Thrift Company
Agreement Date:
7/23/2013
Announcement Date:
7/23/2013
Announced Deal Value ($ M):
15.37
Status:
Completed
Completion Date:
10/1/2013
Announced Deal Value Per Share ($ )
15.86

Consideration Breakout
Cash ($M) 1.4
Common Stock ($M) 12.7
Common Stock Issued 502,560

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 106.2 105.6
Price / Tangible Book (%) 106.2 105.6
Price / Earnings (x) 17.7 19.2
Price / Deposits (%) 13.72 13.61
Price / Assets (%) 12.20 12.09
Tangible Book Premium/ Deposits (%) 1.65 1.51
Deal Terms
Description of Consideration

German American Bancorp Inc. paid approximately $1.51 per share in cash and exchanged 0.5456 shares of its common stock to acquire majority stake in United Commerce Bancorp.

Accounting Method Acquisition
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) 1,671
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) 251
Maximum Termination Fee ($ 000) 600
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) 0.545600
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) 2,052
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Renninger & Associates
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Ice Miller LLP
Seller Yes Barnes & Thornburg LLP