Mergers & Acquisitions

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Deal Overview

Buyer:
Old National Bancorp
Actual Acquirer:
Old National Bancorp
Target:
Western Indiana Bancorp
Deal Type:
Bank & Thrift Company
Agreement Date:
10/5/1993
Announcement Date:
10/5/1993
Announced Deal Value ($ M):
18.10
Status:
Completed
Completion Date:
12/31/1994
Announced Deal Value Per Share ($ )
584.60

Consideration Breakout
Common Stock ($M) 18.8
Common Stock Issued 514,290

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 218.3 197.7
Price / Tangible Book (%) 218.3 197.7
Price / Earnings (x) 16.4 13.6
Price / Deposits (%) 27.89 29.75
Price / Assets (%) 24.50 25.68
Tangible Book Premium/ Deposits (%) 15.75 15.50
Deal Terms
Description of Consideration

Western Indiana Bancorp shareholders received 16.59 shares of Old National Bancorp common for each share held. Seller's financials are for Bank of Western Indiana.

Accounting Method Pooling of Interests
In-State Transaction? Yes
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) 16.590000
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 No NA