• NYSE: ASB
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  • 24.30
    Stock Quote ($)
  • Change ($) (0.10)
  • Change (%) (0.41)
  • Market Value ($M) 3,701.37
  • Volume 406,836
  • As of 05/26/2017 Close Minimum 20 minute delay.

Mergers & Acquisitions

Return to Mergers & Acquisitions

Deal Overview

Buyer:
Associated Banc-Corp
Actual Acquirer:
Associated Banc-Corp
Target:
State Financial Services Corporation
Deal Type:
Bank & Thrift Company
Agreement Date:
3/21/2005
Announcement Date:
3/21/2005
Announced Deal Value ($ M):
276.26
Status:
Completed
Completion Date:
10/3/2005
Announced Deal Value Per Share ($ )
38.22

Consideration Breakout
Cash ($M) 10.7
Common Stock ($M) 253.2
Common Stock Issued 8,400,000

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 229.6 214.0
Price / Tangible Book (%) 351.9 327.2
Price / Earnings (x) 18.5 17.4
Price / Deposits (%) 25.49 24.70
Price / Assets (%) 18.72 17.17
Tangible Book Premium/ Deposits (%) 21.40 20.44
Deal Terms
Description of Consideration

State Financial shareholders received 1.2 shares of Associated for each share of State Financial. Option holders received consideration in cash.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Partial Overlap
Goodwill Generated ($ 000) 201,000
Estimated Cost Savings (%) 25.00
Estimated Cost Savings ($ 000) 9,800
Est. Restructuring Charges ($ 000) 24,000
Maximum Termination Fee ($ 000) 10,500
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) 1.2000
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) 15,000
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 Foley & Lardner LLP