Mergers & Acquisitions

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Deal Overview

Buyer:
Old National Bancorp
Actual Acquirer:
First Nat'l Bank of Harrisburg
Target:
Shawnee Bancorp, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
2/23/1995
Announcement Date:
2/23/1995
Announced Deal Value ($ M):
4.90
Status:
Completed
Completion Date:
12/7/1995
Announced Deal Value Per Share ($ )
41.01

Consideration Breakout
Cash ($M) 0.1
Common Stock ($M) 4.9
Common Stock Issued 142,780

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 246.1 241.5
Price / Tangible Book (%) 246.1 241.5
Price / Earnings (x) 20.2 20.4
Price / Deposits (%) 19.30 19.59
Price / Assets (%) 16.28 16.35
Tangible Book Premium/ Deposits (%) 12.45 12.82
Deal Terms
Description of Consideration

Shawnee shareholders received 1.21 shares of Old National common for each share held. Minority shareholders received $17.00 in cash for each share held.

Accounting Method Pooling of Interests
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? In Market
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) 1.210000
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
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Krieg DeVault LLP
Seller Yes Blackwell Sanders Peper Martin