Mergers & Acquisitions

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Deal Overview

Buyer:
Community Trust Bancorp, Inc.
Actual Acquirer:
Pikeville National Corporation
Target:
Commercial Bank
Deal Type:
Bank & Thrift Company
Agreement Date:
9/19/1994
Announcement Date:
9/19/1994
Announced Deal Value ($ M):
14.40
Status:
Completed
Completion Date:
6/30/1995
Announced Deal Value Per Share ($ )
96.12

Consideration Breakout
Cash ($M) 14.4

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 154.1 175.9
Price / Tangible Book (%) 154.1 175.9
Price / Earnings (x) 14.7 14.2
Price / Deposits (%) 16.93 17.20
Price / Assets (%) 15.13 15.54
Tangible Book Premium/ Deposits (%) 6.45 8.11
Deal Terms
Description of Consideration

Pikeville National acquired Commercial Bank from Commercial Bancgroup for an aggregate $14,418,000 in cash.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 4,300
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 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 Greenebaum Doll & McDonald
Seller Yes Stoll Keenon Ogden PLLC