Mergers & Acquisitions

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Deal Overview

Buyer:
UMB Financial Corporation
Actual Acquirer:
UMB Financial Corporation
Target:
Highland Bancshares, Incorporated
Deal Type:
Bank & Thrift Company
Agreement Date:
5/12/1992
Announcement Date:
5/12/1992
Announced Deal Value ($ M):
8.90
Status:
Completed
Completion Date:
5/17/1993
Announced Deal Value Per Share ($ )
447.58

Consideration Breakout
Cash ($M) 1.6
Common Stock ($M) 10.0
Common Stock Issued 265,754

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 163.1 152.6
Price / Tangible Book (%) 163.1 152.6
Price / Earnings (x) 11.4 19.2
Price / Deposits (%) 11.27 15.66
Price / Assets (%) 8.49 12.35
Tangible Book Premium/ Deposits (%) 4.97 4.10
Deal Terms
Description of Consideration

Highland shareholders received 1.5x Highland Park B&T equity adjusted for special reserves, less holding company debt. Seller's financials are for Highland Park B&T, 94.66% owned by Highland Bancshares.

Accounting Method Purchase
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? NA
Goodwill Generated ($ 000) 3,236
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) 14.097900
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 NA NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Watson Ess Marshall & Enggas
Seller Yes Lathrop Gage LLP