Mergers & Acquisitions

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Deal Overview

Buyer:
Heartland Financial USA, Inc.
Actual Acquirer:
Republic Bank of Galena
Target:
Galena State Bank & Trust Company
Deal Type:
Bank & Thrift Company
Agreement Date:
5/2/1991
Announcement Date:
5/2/1991
Announced Deal Value ($ M):
7.30
Status:
Completed
Completion Date:
1/1/1992
Announced Deal Value Per Share ($ )
262.41

Consideration Breakout
Cash ($M) 7.8

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 124.0 123.4
Price / Tangible Book (%) 124.0 123.4
Price / Earnings (x) 8.7 9.5
Price / Deposits (%) 10.40 10.08
Price / Assets (%) 9.48 9.21
Tangible Book Premium/ Deposits (%) 2.18 2.13
Deal Terms
Description of Consideration

Galena Bancorp shareholders, 81.8% owners of Galena, received an aggregate $6,350,000, plus or minus 81.8% of the amount by which equity was above or below $6,300,000. Galena shareholders were offered an equivalent amount.

Accounting Method Purchase
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? NA
Goodwill Generated ($ 000) 916
Estimated Cost Savings (%) NA
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) NA
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement NA
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Hopkins & Sutter
Seller Yes Vincent & Roth