Mergers & Acquisitions

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Deal Overview

Buyer:
Simmons First National Corporation
Actual Acquirer:
Simmons First National Bank
Target:
American Bancshares of Arkansas, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
7/24/1998
Announcement Date:
7/24/1998
Announced Deal Value ($ M):
22.40
Status:
Completed
Completion Date:
12/9/1998
Announced Deal Value Per Share ($ )
2,828.84

Consideration Breakout
Common Stock ($M) 18.1
Common Stock Issued 464,894

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 239.9 189.6
Price / Tangible Book (%) 242.3 191.3
Price / Earnings (x) 21.3 18.3
Price / Deposits (%) 31.34 25.34
Price / Assets (%) 25.71 20.66
Tangible Book Premium/ Deposits (%) 19.85 13.06
Deal Terms
Description of Consideration

Simmons First exchanged 58.74324 shares for each American share held. Seller's financials are for American State Bank.

Accounting Method Pooling of Interests
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Partial Overlap
Goodwill Generated ($ 000) 0
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) 650
Maximum Termination Fee ($ 000) 0
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 58.743200
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
Seller Yes DD&F Consulting Group
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Williams & Anderson
Seller Yes McAfee & Taft