• NYSE: ASB
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  • 12.59
    Stock Quote ($)
    • Change ($) (0.15)
    • Change (%) (1.18)
    • Market Value ($M) 1,902.04
    • Volume 1,774,188
    As of 07/08/2020 Close Minimum 20 minute delay.

Mergers & Acquisitions

Return to Mergers & Acquisitions

Deal Overview

Buyer:
Associated Banc-Corp
Actual Acquirer:
Associated Banc-Corp
Target:
First Staunton Bancshares, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
7/25/2019
Announcement Date:
7/25/2019
Announced Deal Value ($ M):
76.30
Status:
Completed
Completion Date:
2/14/2020
Announced Deal Value Per Share ($ )
NA

Consideration Breakout
Cash ($M) 76.3

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 121.9 116.2
Price / Tangible Book (%) 126.9 120.7
Price / Earnings (x) 16.7 15.4
Price / Deposits (%) 17.51 17.26
Price / Assets (%) 14.13 13.89
Tangible Book Premium/ Deposits (%) 4.06 3.22
Deal Terms
Description of Consideration

Associated Banc-Corp paid $76.3 million in cash to acquire First Staunton Bancshares Inc. Target financials are for First National bank of Staunton.

Accounting Method Acquisition
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Partial Overlap
Goodwill Generated ($ 000) 15,158
Estimated Cost Savings (%) 35.00
Estimated Cost Savings ($ 000) 4,612
Est. Restructuring Charges ($ 000) 5,000
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 NA
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) 7,379
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer NA NA
Seller Yes Gerrish Smith Tuck PC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Howard & Howard Attorneys PLLC
Seller Yes Polsinelli PC