Mergers & Acquisitions

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Deal Overview

Buyer:
UMB Financial Corporation
Actual Acquirer:
UMB Financial Corporation
Target:
Marquette Financial Companies
Deal Type:
Bank & Thrift Company
Agreement Date:
12/15/2014
Announcement Date:
12/15/2014
Announced Deal Value ($ M):
182.52
Status:
Completed
Completion Date:
5/31/2015
Announced Deal Value Per Share ($ )
485.40

Consideration Breakout
Common Stock ($M) 179.7
Common Stock Issued 3,470,000

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 147.6 138.9
Price / Tangible Book (%) 157.3 NA
Price / Earnings (x) 43.9 36.9
Price / Deposits (%) 19.30 18.77
Price / Assets (%) 13.72 13.30
Tangible Book Premium/ Deposits (%) 10.32 8.62
Deal Terms
Description of Consideration

UMB Financial Corp. exchanged 9.2295 shares of its common stock for each outstanding share of Marquette Financial Cos. UMB Financial Corp. also assumed $103.1 million of long-term debt obligations. UMB Financial Corp. will expand in Maricopa County, Ariz., by eight branches to be ranked No. 12 with a 1.01% share of approximately $70.27 billion in total market deposits, will enter Denton County, Texas, with two branches to be ranked No. 14 with a 1.05% share of approximately $8.23 billion in total market deposits, will enter Tarrant County, Texas, with one branch to be ranked No. 25 with a 0.47% share of approximately $31.69 billion in total market deposits and will enter Dallas County, Texas, with two branches to be ranked No. 46 with a 0.11% share of approximately $136.99 billion in total market deposits.

Accounting Method Acquisition
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Partial Overlap
Goodwill Generated ($ 000) 22,489
Estimated Cost Savings (%) 23.00
Estimated Cost Savings ($ 000) 14,221
Est. Restructuring Charges ($ 000) 19,500
Maximum Termination Fee ($ 000) NA
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) 9.229500
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) 11,030
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes RBC Capital Markets LLC
Seller Yes D.A. Davidson & Co.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Sullivan & Cromwell LLP
Seller Yes Briggs & Morgan PA