Mergers & Acquisitions

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Deal Overview

Buyer:
Old National Bancorp
Actual Acquirer:
Merchants National Bank
Target:
Edgar County Bank & Trust Company
Deal Type:
Bank & Thrift Company
Agreement Date:
1/14/1998
Announcement Date:
1/14/1998
Announced Deal Value ($ M):
24.80
Status:
Terminated
Completion Date:
3/2/1998
Announced Deal Value Per Share ($ )
495.42

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 229.3 NA
Price / Tangible Book (%) 229.3 NA
Price / Earnings (x) 17.9 NA
Price / Deposits (%) 26.38 NA
Price / Assets (%) 22.38 NA
Tangible Book Premium/ Deposits (%) 19.71 NA
Deal Terms
Description of Consideration

Edgar County shareholders would have received 10.77 common shares of Old National for each share held.

Accounting Method Pooling of Interests
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) NA
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) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Krieg DeVault LLP
Seller Yes Richard L. James