Mergers & Acquisitions

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Deal Overview

Buyer:
Heartland Financial USA, Inc.
Actual Acquirer:
Wisconsin Bank & Trust
Target:
Community Banc-Corp. of Sheboygan, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
10/22/2014
Announcement Date:
10/23/2014
Announced Deal Value ($ M):
52.00
Status:
Completed
Completion Date:
1/16/2015
Announced Deal Value Per Share ($ )
NA

Consideration Breakout
Common Stock ($M) 51.1
Common Stock Issued 1,970,720

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 171.0 156.8
Price / Tangible Book (%) 158.3 156.8
Price / Earnings (x) 5.4 13.5
Price / Deposits (%) 12.11 11.45
Price / Assets (%) 9.89 9.64
Tangible Book Premium/ Deposits (%) 5.04 4.73
Deal Terms
Description of Consideration

Heartland Financial USA Inc. issued 1,970,720 shares of its common stock for all of the outstanding shares of Community Banc-Corp. of Sheboygan Inc.

Accounting Method Acquisition
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Partial Overlap
Goodwill Generated ($ 000) 22,874
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) 1,700
Maximum Termination Fee ($ 000) 2,000
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) NA
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) 6,000
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Hovde Group LLC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Dorsey & Whitney LLP
Seller Yes Reinhart Boerner Van Deuren sc