Mergers & Acquisitions

Return to Mergers & Acquisitions

Deal Overview

Buyer:
BOK Financial Corporation
Actual Acquirer:
BOK Financial Corporation
Target:
First Texcorp, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
12/19/1996
Announcement Date:
12/19/1996
Announced Deal Value ($ M):
39.30
Status:
Completed
Completion Date:
3/4/1997
Announced Deal Value Per Share ($ )
112.86

Consideration Breakout
Cash ($M) 39.3

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 241.1 228.6
Price / Tangible Book (%) 241.1 228.6
Price / Earnings (x) 11.1 10.8
Price / Deposits (%) 33.92 33.51
Price / Assets (%) 29.07 28.61
Tangible Book Premium/ Deposits (%) 23.13 21.89
Deal Terms
Description of Consideration

First TexCorp shareholders received $112.86 in cash for each share held. Seller's financials are for First Texas Bank.

Accounting Method Purchase
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Partial Overlap
Goodwill Generated ($ 000) 14,224
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) 4,456
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes SAMCO Capital Markets Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Frederic Dorwart Lawyers
Seller Yes Jenkens & Gilchrist PC