Mergers & Acquisitions

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Deal Overview

Buyer:
United Bancorp, Inc.
Actual Acquirer:
United Bancorp, Inc.
Target:
Southern Ohio Community Bancorp
Deal Type:
Bank & Thrift Company
Agreement Date:
1/13/1998
Announcement Date:
1/13/1998
Announced Deal Value ($ M):
12.00
Status:
Completed
Completion Date:
7/7/1998
Announced Deal Value Per Share ($ )
308.00

Consideration Breakout
Common Stock ($M) 11.2
Common Stock Issued 429,000

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 306.1 284.9
Price / Tangible Book (%) 306.1 284.9
Price / Earnings (x) NM 54.9
Price / Deposits (%) 24.05 23.03
Price / Assets (%) 22.21 21.21
Tangible Book Premium/ Deposits (%) 17.85 16.68
Deal Terms
Description of Consideration

Southern Ohio shareholders received 11 shares of United common stock for each share held. Seller's financials are for Glouster Community Bank.

Accounting Method Pooling of Interests
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 0
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 500
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 11.000000
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) 0
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Austin Associates LLC
Seller Yes Young & Associates Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Werner & Blank LLC
Seller NA NA