Return to Mergers & Acquisitions

Deal Overview

Buyer:
Colony Bankcorp, Incorporated
Actual Acquirer:
Colony Bankcorp, Incorporated
Target:
Broxton State Bank
Deal Type:
Bank & Thrift Company
Agreement Date:
7/4/1996
Announcement Date:
7/4/1996
Announced Deal Value ($ M):
3.60
Status:
Completed
Completion Date:
11/30/1996
Announced Deal Value Per Share ($ )
68.31

Consideration Breakout
Cash ($M) 0.1
Common Stock ($M) 3.5
Common Stock Issued 157,735

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 165.0 165.0
Price / Tangible Book (%) 165.0 165.0
Price / Earnings (x) 14.5 22.5
Price / Deposits (%) 18.76 17.76
Price / Assets (%) 16.83 15.98
Tangible Book Premium/ Deposits (%) 9.18 8.26
Deal Terms
Description of Consideration

Shareholders of Broxton State Bank received 165% of book value in Colony common stock for each share held. Deal value includes a $100,000 cash payment for a covenant not to compete.

Accounting Method NA
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) NA
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 0
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 No
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 No NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Martin Snow LLP
Seller Yes Solomon & Edgar
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