Mergers & Acquisitions

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Deal Overview

Buyer:
BOK Financial Corporation
Actual Acquirer:
Bank of Oklahoma NA
Target:
First Bancshares of Muskogee, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
12/29/1998
Announcement Date:
12/29/1998
Announced Deal Value ($ M):
56.10
Status:
Completed
Completion Date:
6/30/1999
Announced Deal Value Per Share ($ )
NA

Consideration Breakout
Common Stock ($M) 60.5
Common Stock Issued 2,372,510

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 328.7 388.4
Price / Tangible Book (%) 328.7 388.4
Price / Earnings (x) 17.4 17.6
Price / Deposits (%) 26.09 26.62
Price / Assets (%) 24.07 24.65
Tangible Book Premium/ Deposits (%) 25.45 27.58
Deal Terms
Description of Consideration

BOK exchanged 2,372,510 shares to acquire all outstanding shares of First Bancshares of Muskogee. Seller's financials are for First National Bank & Trust Company.

Accounting Method Pooling of Interests
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) 0
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 250
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 28.6178
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) NM
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 Crowe & Dunlevy