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Deal Overview

Buyer:
United Bankshares, Inc.
Actual Acquirer:
United Bankshares, Inc.
Target:
CB&T Westover Bank
Deal Type:
Bank & Thrift Company
Agreement Date:
4/2/1993
Announcement Date:
4/2/1993
Announced Deal Value ($ M):
8.30
Status:
Completed
Completion Date:
9/13/1993
Announced Deal Value Per Share ($ )
NA

Consideration Breakout
Cash ($M) 8.5

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 126.4 126.8
Price / Tangible Book (%) 171.4 173.9
Price / Earnings (x) 52.5 51.8
Price / Deposits (%) 14.75 15.19
Price / Assets (%) 12.96 13.25
Tangible Book Premium/ Deposits (%) 7.06 7.41
Deal Terms
Description of Consideration

CB&T Financial received approximately $8.5 million for its subsidiary, CB&T-Westover.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? NA
Goodwill Generated ($ 000) NA
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) NA
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) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Porter Wright Morris & Arthur
Seller Yes Bowles Rice LLP