Mergers & Acquisitions

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Deal Overview

Buyer:
Community Trust Bancorp, Inc.
Actual Acquirer:
Community Trust Bancorp, Inc.
Target:
Citizens National Bank & Trust of Hazard, Kentucky
Deal Type:
Bank & Thrift Company
Agreement Date:
8/20/2001
Announcement Date:
8/20/2001
Announced Deal Value ($ M):
15.06
Status:
Completed
Completion Date:
8/20/2001
Announced Deal Value Per Share ($ )
2,272.73

Consideration Breakout
Unclassified ($M) 15.1

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 118.5 118.5
Price / Tangible Book (%) 118.5 118.5
Price / Earnings (x) 21.6 21.6
Price / Deposits (%) 15.93 15.93
Price / Assets (%) 13.98 13.98
Tangible Book Premium/ Deposits (%) 2.88 2.88
Deal Terms
Description of Consideration

Community Trust acquired 75.28% of the common stock of Citizens, valued in the aggregate at $15,055,470, in lieu of collateralized debt owed by Citizens shareholders.

Accounting Method Purchase
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) 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) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Greenebaum Doll & McDonald
Seller Yes Frost Brown Todd LLC