Mergers & Acquisitions

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Deal Overview

Buyer:
BOK Financial Corporation
Actual Acquirer:
Bank of Texas NA
Target:
Mid-Cities Bancshares, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
3/1/1999
Announcement Date:
3/1/1999
Announced Deal Value ($ M):
17.00
Status:
Completed
Completion Date:
6/4/1999
Announced Deal Value Per Share ($ )
NA

Consideration Breakout
Cash ($M) 17.0

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 309.5 309.5
Price / Tangible Book (%) 309.5 309.5
Price / Earnings (x) 17.9 17.9
Price / Deposits (%) 27.81 23.56
Price / Assets (%) 25.33 21.64
Tangible Book Premium/ Deposits (%) 22.25 18.67
Deal Terms
Description of Consideration

BOK Financial paid $17.0 million in cash to acquire all outstanding shares of Mid-Cities Bancshares. Seller's financials are for Mid-Cities National Bank.

Accounting Method Purchase
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 11,508
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 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 SAMCO Capital Markets Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Frederic Dorwart Lawyers
Seller Yes Bracewell LLP