Mergers & Acquisitions

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Deal Overview

Buyer:
BOK Financial Corporation
Actual Acquirer:
Bank of Oklahoma NA
Target:
Sand Springs Bancshares, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
12/22/1992
Announcement Date:
12/22/1992
Announced Deal Value ($ M):
10.30
Status:
Completed
Completion Date:
5/7/1993
Announced Deal Value Per Share ($ )
NA

Consideration Breakout
Cash ($M) 3.9
Common Stock ($M) 7.3
Common Stock Issued 343,295

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 272.7 328.5
Price / Tangible Book (%) 272.7 328.5
Price / Earnings (x) 9.3 10.3
Price / Deposits (%) 18.90 19.31
Price / Assets (%) 16.71 17.33
Tangible Book Premium/ Deposits (%) 9.71 11.23
Deal Terms
Description of Consideration

Sand Springs Bancshares shareholders received, in aggregate, $11.2 million in a combination of cash and BOK Financial common stock. Holding company debt of $1.8 million was eliminated from pricing ratios.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? NA
Goodwill Generated ($ 000) 5,586
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 Holliman Langholz Runnels
Seller NA NA