• 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:
GN Bancorp, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
3/23/1995
Announcement Date:
3/23/1995
Announced Deal Value ($ M):
22.80
Status:
Completed
Completion Date:
8/3/1995
Announced Deal Value Per Share ($ )
250.25

Consideration Breakout
Common Stock ($M) 24.4
Common Stock Issued 757,437

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 256.2 277.5
Price / Tangible Book (%) 256.2 277.5
Price / Earnings (x) 14.3 16.4
Price / Deposits (%) 19.88 21.41
Price / Assets (%) 17.81 19.23
Tangible Book Premium/ Deposits (%) 12.65 14.84
Deal Terms
Description of Consideration

GN Bancorp shareholders received 8.234 shares of Associated Banc-Corp common stock for each share held. Seller's financials are for Gladstone-Norwood Trust & Savings Bank.

Accounting Method Pooling of Interests
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) 0
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 1,300
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 8.2340
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement Yes
Strike Price ($ ) 225.0000
% of Shares Outstanding 16.40
Shares Under Option 18,011
Core Deposit Intangibles ($ 000) NM
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Robert W. Baird & Co.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Saitlin Patzik Frank Samotny
Seller Yes Vedder Price PC