Mergers & Acquisitions

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Deal Overview

Buyer:
German American Bancorp
Actual Acquirer:
GAB Bancorp
Target:
Winslow Bancorporation
Deal Type:
Bank & Thrift Company
Agreement Date:
7/17/1992
Announcement Date:
7/17/1992
Announced Deal Value ($ M):
2.10
Status:
Completed
Completion Date:
4/1/1993
Announced Deal Value Per Share ($ )
210.00

Consideration Breakout
Cash ($M) 2.0

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 148.4 149.2
Price / Tangible Book (%) 148.4 149.2
Price / Earnings (x) 23.9 21.6
Price / Deposits (%) 11.89 13.27
Price / Assets (%) 10.88 12.05
Tangible Book Premium/ Deposits (%) 4.38 4.44
Deal Terms
Description of Consideration

Winslow Bancorp shareholders received $210 for each of 9,999 shares outstanding, less the pro-rata amount Winslow's equity at close less than $1,772,000. Seller's financials are for South Western Indiana Nat'l.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 377
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) NA
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) 353
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes David A. Noyes & Co.
Seller Yes NatCity Investments Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Leagre Chandler & Millard LLP
Seller Yes Taft Stettinius& Hollister LLP