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Deal Overview

Buyer:
USBANCORP, Inc.
Actual Acquirer:
USBANCORP, Inc.
Target:
Community Bancorp, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
11/30/1991
Announcement Date:
11/30/1991
Announced Deal Value ($ M):
19.70
Status:
Completed
Completion Date:
3/23/1992
Announced Deal Value Per Share ($ )
12.88

Consideration Breakout
Cash ($M) 14.1
Common Stock ($M) 7.6
Common Stock Issued 388,213

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 84.1 84.5
Price / Tangible Book (%) 84.6 84.6
Price / Earnings (x) 14.5 11.3
Price / Deposits (%) 6.58 6.91
Price / Assets (%) 5.32 5.68
Tangible Book Premium/ Deposits (%) (1.07) (0.64)
Deal Terms
Description of Consideration

Community Bancorp shareholders received $9.45 in cash and 0.2179 shares of USBANCORP common.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? NA
Goodwill Generated ($ 000) 0
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) 0.217900
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) 0
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Credit Suisse (USA) Inc.
Seller Yes Ryan Beck & Co.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Letson & Jarrett
Seller Yes Reed Smith LLP