Mergers & Acquisitions

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Deal Overview

Buyer:
Simmons First National Corporation
Actual Acquirer:
Simmons First National Bank
Target:
Dumas Bancshares, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
11/16/1994
Announcement Date:
11/16/1994
Announced Deal Value ($ M):
5.00
Status:
Completed
Completion Date:
3/31/1995
Announced Deal Value Per Share ($ )
161.29

Consideration Breakout
Cash ($M) 1.5
Common Stock ($M) 3.5
Common Stock Issued 137,234

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 122.7 120.7
Price / Tangible Book (%) 122.7 120.7
Price / Earnings (x) 11.1 10.8
Price / Deposits (%) 12.93 13.37
Price / Assets (%) 11.61 11.63
Tangible Book Premium/ Deposits (%) 2.81 2.71
Deal Terms
Description of Consideration

Dumas received $5.0 million in cash and Simmons common stock for all outstanding shares. The total consideration consisted of 70% stock and 30% cash.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Partial Overlap
Goodwill Generated ($ 000) 581
Estimated Cost Savings (%) 10.00
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) 6.135400
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) 835
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes DD&F Consulting Group
Seller Yes Southard Financial LLC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Ramsay Bridgforth Harrelson
Seller Yes Gerrish Smith Tuck PC