Mergers & Acquisitions

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Deal Overview

Buyer:
Banner Corporation
Actual Acquirer:
Banner Bank
Target:
Idaho Banking Company
Deal Type:
Bank & Thrift Company
Agreement Date:
4/24/2014
Announcement Date:
4/24/2014
Announced Deal Value ($ M):
2.60
Status:
Terminated
Completion Date:
6/27/2014
Announced Deal Value Per Share ($ )
NA

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 77.4 NA
Price / Tangible Book (%) 77.4 NA
Price / Earnings (x) NM NA
Price / Deposits (%) 2.65 NA
Price / Assets (%) 2.55 NA
Tangible Book Premium/ Deposits (%) (0.87) NA
Deal Terms
Description of Consideration

Banner Corp. would have paid $2.6 million in cash to acquire all of the stock and equity interest of Idaho Banking Co.

Accounting Method Acquisition
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) NA
Estimated Cost Savings (%) 15.00
Estimated Cost Savings ($ 000) 624
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
Seller Yes Westwinds Capital
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Breyer & Associates PC
Seller Yes MoffattThomasBarrettRockFields