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Mergers & Acquisitions

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M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: Rurban Financial Corporation
Actual Acquirer: Rurban Financial Corporation
Target: First National Bank of Ottawa
Deal Type: Bank & Thrift Company
Agreement Date7/20/1990
Announcement Date7/20/1990
Announced Deal Value ($M)5.30
Completion Date1/30/1991
Announced Deal Value Per Share ($)53.37
Consideration Breakout
Cash ($M)2.4
Common Stock ($M)2.9
Common Stock Issued105,000
Deal Pricing Ratios
Price / Book (%)144.0133.4
Price / Tangible Book (%)144.0133.4
Price / Earnings (x)14.813.7
Price / Deposits (%)16.5317.12
Price / Assets (%)14.6815.03
Tangible Book Premium/ Deposits (%)5.484.67
Deal Terms
Description of Consideration
Ottawa shareholders received, at their option, 1.75 shares of Rurban common stock, or $61.25 in cash for each share held, adjusted such that total cash paid was $2,449,600, and Rurban issued 105,000 common shares.
Accounting MethodPurchase
In-State Transaction?Yes
Merger of Equals?No
Geographic Expansion?NA
Goodwill Generated ($000)1,185
Estimated Cost Savings (%)NA
Estimated Cost Savings ($000)NA
Est. Restructuring Charges ($000)NA
Maximum Termination Fee ($000)NA
Minimum Termination Fee ($000)NA
Exchange Ratio (Common For Common)1.750000
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Lockup AgreementNA
Strike Price ($)NA
% of Shares OutstandingNA
Shares Under OptionNA
Core Deposit Intangibles ($000)NA
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
SellerYesAustin Associates LLC

Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesVorys Sater Seymour and Pease
SellerYesWerner & Blank LLC

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