Mergers & Acquisitions

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Deal Overview

Community Trust Bancorp, Inc.
Actual Acquirer:
Farmers National Bank
United Whitley Corp.
Deal Type:
Bank & Thrift Company
Agreement Date:
Announcement Date:
Announced Deal Value ($ M):
Completion Date:
Announced Deal Value Per Share ($ )

Consideration Breakout
Common Stock ($M) 3.4
Common Stock Issued 172,259

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 153.98 NA
Price / Tangible Book (%) 164.70 NA
Price / Earnings (x) 10.39 NA
Price / Deposits (%) 8.67 NA
Price / Assets (%) 7.98 NA
Tangible Book Premium/ Deposits (%) NA NA
Deal Terms
Description of Consideration

United shareholders received 1.118 shares of PKVL common for each share held. Minority shareholders of Bank of Williamsburg received 1.968 shares of PKVL common stock. Seller's financials are for Bank of Williamsburg.

Accounting Method Pooling of Interests
In-State Transaction? Yes
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) 0
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 1.118000
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) 0
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes ProBank Austin
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Stoll Keenon Ogden PLLC
Seller Yes Frost Brown Todd LLC