Mergers & Acquisitions

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Deal Overview

Buyer:
First Interstate BancSystem, Inc.
Actual Acquirer:
First Interstate BancSystem, Inc.
Target:
First Park County Bancshares, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
2/5/1995
Announcement Date:
2/5/1995
Announced Deal Value ($ M):
8.50
Status:
Completed
Completion Date:
5/19/1995
Announced Deal Value Per Share ($ )
1,079.93

Consideration Breakout
Unclassified ($M) 9.0

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 178.6 182.0
Price / Tangible Book (%) 178.6 182.0
Price / Earnings (x) 11.1 10.6
Price / Deposits (%) 15.70 16.89
Price / Assets (%) 14.15 15.15
Tangible Book Premium/ Deposits (%) 7.15 7.85
Deal Terms
Description of Consideration

First Park shareholders had the option to receive either cash or short-term credit notes in the amount of $8,865,000. Deal value includes a $150,000 non-compete agreement.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 2,819
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) 0
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes KPMG LLP
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Holland & Hart LLP
Seller Yes J. Robert Planalp