Mergers & Acquisitions

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Deal Overview

Buyer:
Old National Bancorp
Actual Acquirer:
Old National Bancorp
Target:
Indiana State Bank of Terre Haute
Deal Type:
Bank & Thrift Company
Agreement Date:
1/13/1994
Announcement Date:
1/13/1994
Announced Deal Value ($ M):
31.40
Status:
Completed
Completion Date:
9/30/1994
Announced Deal Value Per Share ($ )
1,389.60

Consideration Breakout
Common Stock ($M) 31.1
Common Stock Issued 852,924

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 134.6 131.4
Price / Tangible Book (%) 134.6 131.4
Price / Earnings (x) 20.4 21.5
Price / Deposits (%) 38.53 39.03
Price / Assets (%) 29.86 29.96
Tangible Book Premium/ Deposits (%) 10.39 9.82
Deal Terms
Description of Consideration

Indiana State Bank shareholders received 37.74 shares of Old National common for each share held.

Accounting Method Pooling of Interests
In-State Transaction? Yes
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) NA
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 37.740000
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 NA NA