Mergers & Acquisitions

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Deal Overview

Buyer:
BOK Financial Corporation
Actual Acquirer:
BOK Financial Corporation
Target:
Park Cities Bancshares, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
9/15/1996
Announcement Date:
9/15/1996
Announced Deal Value ($ M):
50.90
Status:
Completed
Completion Date:
2/12/1997
Announced Deal Value Per Share ($ )
NA

Consideration Breakout
Cash ($M) 40.0
Debt ($M) 10.9

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 313.9 300.6
Price / Tangible Book (%) 313.9 300.6
Price / Earnings (x) 20.3 18.5
Price / Deposits (%) 23.95 25.59
Price / Assets (%) 21.99 23.39
Tangible Book Premium/ Deposits (%) 23.10 22.78
Deal Terms
Description of Consideration

BOK Financial paid Park Cities shareholders $40M in cash and $10.9M in notes in exchange for all Park Cities Bancshares shares outstanding.

Accounting Method Purchase
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) NA
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 2,000
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 NA
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 Keefe Bruyette & Woods Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Frederic Dorwart Lawyers
Seller Yes Jackson Walker LLP