Mergers & Acquisitions

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Deal Overview

Buyer:
Olney Bancshares of Texas, Inc.
Actual Acquirer:
Olney Bancshares of Texas, Inc.
Target:
Union Bank, National Association
Deal Type:
Bank & Thrift Company
Agreement Date:
6/29/2007
Announcement Date:
6/29/2007
Announced Deal Value ($ M):
78.45
Status:
Completed
Completion Date:
11/28/2007
Announced Deal Value Per Share ($ )
NA

Consideration Breakout
Cash ($M) 78.8

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 248.7 247.1
Price / Tangible Book (%) 248.7 247.1
Price / Earnings (x) 19.8 19.2
Price / Deposits (%) 24.29 25.35
Price / Assets (%) 18.70 19.50
Tangible Book Premium/ Deposits (%) 17.93 18.71
Deal Terms
Description of Consideration

Olney Bancshares of TX Inc. paid approximately $78.8 million in cash to acquire Union Bank NA from MB Financial Inc.

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) 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 Yes Hovde Financial Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes McAfee & Taft
Seller Yes Silver Freedman Taff & Tiernan
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