Mergers & Acquisitions

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Deal Overview

Buyer:
BOK Financial Corporation
Actual Acquirer:
BOK Financial Corporation
Target:
CNBT Bancshares, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
8/21/2000
Announcement Date:
8/21/2000
Announced Deal Value ($ M):
91.40
Status:
Completed
Completion Date:
1/11/2001
Announced Deal Value Per Share ($ )
18.22

Consideration Breakout
Cash ($M) 91.4

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 276.9 268.3
Price / Tangible Book (%) 276.9 268.3
Price / Earnings (x) 17.7 17.5
Price / Deposits (%) 26.35 25.55
Price / Assets (%) 21.57 21.17
Tangible Book Premium/ Deposits (%) 19.81 18.97
Deal Terms
Description of Consideration

BOK Financial paid $18.22 in cash for each share of CNBT held.

Accounting Method Purchase
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 49,003
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 5,000
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
Seller Yes Sheshunoff & Co.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Frederic Dorwart Lawyers
Seller Yes Thompson & Knight LLP