Mergers & Acquisitions

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Deal Overview

Buyer:
Old National Bancorp
Actual Acquirer:
Old National Bancorp
Target:
Palmer Bancorp, Incorporated
Deal Type:
Bank & Thrift Company
Agreement Date:
2/4/1992
Announcement Date:
2/4/1992
Announced Deal Value ($ M):
40.40
Status:
Completed
Completion Date:
12/31/1992
Announced Deal Value Per Share ($ )
185.71

Consideration Breakout
Common Stock ($M) 41.4
Common Stock Issued 1,336,848

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 195.1 191.0
Price / Tangible Book (%) 214.8 207.9
Price / Earnings (x) 10.7 15.5
Price / Deposits (%) 19.96 20.80
Price / Assets (%) 17.43 17.85
Tangible Book Premium/ Deposits (%) 11.89 11.45
Deal Terms
Description of Consideration

Palmer shareholders received six shares of Old National common for each share held.

Accounting Method Pooling of Interests
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? NA
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) 6.000000
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
Seller Yes William Blair & Co. L.L.C.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Krieg DeVault LLP
Seller Yes Barack Ferrazzano Kirschbaum