Mergers & Acquisitions

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Deal Overview

Buyer:
Mid Penn Bancorp, Inc.
Actual Acquirer:
Mid Penn Bank
Target:
Miners Bank of Lykens
Deal Type:
Bank & Thrift Company
Agreement Date:
1/9/1998
Announcement Date:
1/9/1998
Announced Deal Value ($ M):
4.60
Status:
Completed
Completion Date:
7/10/1998
Announced Deal Value Per Share ($ )
310.00

Consideration Breakout
Common Stock ($M) 4.4
Common Stock Issued 148,250

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 159.3 153.5
Price / Tangible Book (%) 159.3 153.5
Price / Earnings (x) 31.1 34.4
Price / Deposits (%) 18.32 16.99
Price / Assets (%) 16.34 15.25
Tangible Book Premium/ Deposits (%) 7.13 6.15
Deal Terms
Description of Consideration

Miners Bank shareholders received ten shares of Mid Penn common stock for each share held.

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) 0
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 10.000000
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
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Shumaker Williams PC
Seller NA NA