Mergers & Acquisitions

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Deal Overview

Buyer:
Simmons First National Corporation
Actual Acquirer:
Simmons First National Corporation
Target:
NBC Bank Corp.
Deal Type:
Bank & Thrift Company
Agreement Date:
3/22/1999
Announcement Date:
3/22/1999
Announced Deal Value ($ M):
26.30
Status:
Completed
Completion Date:
7/9/1999
Announced Deal Value Per Share ($ )
139.49

Consideration Breakout
Common Stock ($M) 26.6
Common Stock Issued 785,000

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 191.9 194.3
Price / Tangible Book (%) 191.9 194.3
Price / Earnings (x) 16.5 16.9
Price / Deposits (%) 21.75 21.01
Price / Assets (%) 18.43 17.85
Tangible Book Premium/ Deposits (%) 12.69 12.31
Deal Terms
Description of Consideration

Simmons First exchanged 4.16382 shares for each NBC share outstanding. Seller's financials are for National Bank of Commerce.

Accounting Method Pooling of Interests
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 0
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) 990
Maximum Termination Fee ($ 000) 0
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 4.16
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 Burke Capital Group, LLC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Williams & Anderson
Seller Yes Compton Prewett Thomas&Hickey