Mergers & Acquisitions

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Deal Overview

Buyer:
UMB Financial Corporation
Actual Acquirer:
UMB Financial Corporation
Target:
Charter Bancshares, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
8/3/1999
Announcement Date:
8/3/1999
Announced Deal Value ($ M):
10.60
Status:
Completed
Completion Date:
11/22/1999
Announced Deal Value Per Share ($ )
NA

Consideration Breakout
Cash ($M) 3.7
Common Stock ($M) 6.0
Common Stock Issued 143,989

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 187.0 184.0
Price / Tangible Book (%) 187.0 184.0
Price / Earnings (x) 17.8 16.0
Price / Deposits (%) 23.07 21.81
Price / Assets (%) 20.71 19.52
Tangible Book Premium/ Deposits (%) 13.80 13.60
Deal Terms
Description of Consideration

1,522 shares of Charter were exchanged for $207.47 cash and 94.605 shares of UMB. All remaining Charter shares were surrendered for $4,148.71 cash. Seller's financials are for Charter National Bank.

Accounting Method Purchase
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 4,390
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 No
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 NA NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Crowe & Dunlevy