Mergers & Acquisitions

Return to Mergers & Acquisitions

Deal Overview

Buyer:
Old National Bancorp
Actual Acquirer:
Old National Bancorp
Target:
City National Bancorp, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
4/26/1995
Announcement Date:
4/26/1995
Announced Deal Value ($ M):
19.00
Status:
Completed
Completion Date:
11/6/1995
Announced Deal Value Per Share ($ )
396.75

Consideration Breakout
Common Stock ($M) 18.6
Common Stock Issued 551,598

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 271.0 213.1
Price / Tangible Book (%) 284.1 221.1
Price / Earnings (x) 18.0 18.8
Price / Deposits (%) 21.05 21.06
Price / Assets (%) 18.34 17.98
Tangible Book Premium/ Deposits (%) 14.45 12.32
Deal Terms
Description of Consideration

City National shareholders received 11.5 shares of Old National common stock for each share held. Seller's financials are for City National Bank of Fulton.

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) NA
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 11.500000
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) NM
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 Gerrish Smith Tuck PC