Mergers & Acquisitions

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Deal Overview

Buyer:
Simmons First National Corporation
Actual Acquirer:
Simmons First Bank of NW AR
Target:
Lincoln Bankshares Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
8/25/1998
Announcement Date:
8/25/1998
Announced Deal Value ($ M):
12.00
Status:
Completed
Completion Date:
1/19/1999
Announced Deal Value Per Share ($ )
1,208.97

Consideration Breakout
Common Stock ($M) 12.1
Common Stock Issued 301,833

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 220.7 248.8
Price / Tangible Book (%) 220.7 248.8
Price / Earnings (x) 13.6 14.3
Price / Deposits (%) 18.16 17.98
Price / Assets (%) 16.39 16.20
Tangible Book Premium/ Deposits (%) 12.40 13.64
Deal Terms
Description of Consideration

Simmons First exchanged 30.41445 shares for each Lincoln share held. Seller's financials are for Bank of Lincoln.

Accounting Method Pooling of Interests
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) 0
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) 675
Maximum Termination Fee ($ 000) 0
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 30.41
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 Yes DD&F Consulting Group
Seller Yes Stephens Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Williams & Anderson
Seller Yes Horne Hollingsworth & Parker