Mergers & Acquisitions

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Deal Overview

German American Bancorp
Actual Acquirer:
German American Bancorp
FSB Financial Corporation
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) 2.1
Common Stock Issued 67,529

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 150.0 150.0
Price / Tangible Book (%) 150.0 150.0
Price / Earnings (x) NM NM
Price / Deposits (%) 16.05 14.79
Price / Assets (%) 14.42 13.34
Tangible Book Premium/ Deposits (%) 6.62 5.45
Deal Terms
Description of Consideration

German American issued stock in an amount equal to 150% of FSB's book value at close, subject to certain adjustments. Seller's financials are for FSB Bank.

Accounting Method Pooling of Interests
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Partial Overlap
Goodwill Generated ($ 000) 0
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 100
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 1.375000
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) 0
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 Leagre Chandler & Millard LLP
Seller Yes Bose McKinney & Evans LLP