• NYSE: ASB
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  • 21.93
    Stock Quote ($)
  • Change ($) 0.03
  • Change (%) 0.11
  • Market Value ($M) 3,318.19
  • Volume 466,514
  • As of 08/18/2017 1:40 PM ET Minimum 20 minute delay.

Mergers & Acquisitions

Return to Mergers & Acquisitions

Deal Overview

Buyer:
Associated Banc-Corp
Actual Acquirer:
Associated Banc-Corp
Target:
First Federal Capital Corp
Deal Type:
Bank & Thrift Company
Agreement Date:
4/27/2004
Announcement Date:
4/27/2004
Announced Deal Value ($ M):
602.92
Status:
Completed
Completion Date:
10/29/2004
Announced Deal Value Per Share ($ )
26.38

Consideration Breakout
Cash ($M) 74.4
Common Stock ($M) 669.3
Common Stock Issued 19,400,000

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 208.4 256.6
Price / Tangible Book (%) 306.3 376.2
Price / Earnings (x) 15.9 19.4
Price / Deposits (%) 22.56 27.64
Price / Assets (%) 16.11 20.18
Tangible Book Premium/ Deposits (%) 18.82 25.03
Deal Terms
Description of Consideration

Associated issued 0.9525 share or an equivalent amount in cash for each share of First Federal, subject to 90% of the consideration being paid in stock. The ratio reflects ASBC 3-for-2 stock split announced in April 2004.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) 451,000
Estimated Cost Savings (%) 33.75
Estimated Cost Savings ($ 000) 39,781
Est. Restructuring Charges ($ 000) 46,000
Maximum Termination Fee ($ 000) 20,000
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) 0.9525
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) 17,000
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes UBS Securities LLC
Seller Yes Sandler O'Neill & Partners LP
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Reinhart Boerner Van Deuren sc
Seller Yes Michael Best & Friedrich LLP