Mergers & Acquisitions

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Deal Overview

Buyer:
Old National Bancorp
Actual Acquirer:
Old National Bancorp
Target:
National Bank of Carmi
Deal Type:
Bank & Thrift Company
Agreement Date:
12/12/1995
Announcement Date:
12/12/1995
Announced Deal Value ($ M):
12.60
Status:
Completed
Completion Date:
5/30/1996
Announced Deal Value Per Share ($ )
125.80

Consideration Breakout
Common Stock ($M) 13.0
Common Stock Issued 388,462

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 146.4 156.3
Price / Tangible Book (%) 171.7 183.2
Price / Earnings (x) 16.4 17.4
Price / Deposits (%) 22.14 23.21
Price / Assets (%) 18.72 19.66
Tangible Book Premium/ Deposits (%) 10.26 11.76
Deal Terms
Description of Consideration

National Bank of Carmi shareholders received 3.885 shares of Old National common stock for each share held.

Accounting Method Pooling of Interests
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 0
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 0
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 3.885000
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) NM
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Prairie Capital Services Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Krieg DeVault LLP
Seller Yes Barack Ferrazzano Kirschbaum