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Mergers & Acquisitions
M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: UMB Financial Corporation
Actual Acquirer: UMB Financial Corporation
Target: Charter Bancshares, Inc.
Deal Type: Bank & Thrift Company
Agreement Date8/3/1999
Announcement Date8/3/1999
Announced Deal Value ($M)10.60
StatusCompleted
Completion Date11/22/1999
Announced Deal Value Per Share ($)NA
Consideration Breakout
Cash ($M)3.7
Common Stock ($M)6.0
Common Stock Issued143,989
Deal Pricing Ratios
 AnnouncementCompletion
Price / Book (%)187.0184.0
Price / Tangible Book (%)187.0184.0
Price / Earnings (x)17.816.0
Price / Deposits (%)23.0721.81
Price / Assets (%)20.7119.52
Tangible Book Premium/ Deposits (%)13.8013.60
Deal Terms
Description of Consideration
1,522 shares of Charter were exchanged for $207.47 cash and 94.605 shares of UMB. All remaining Charter shares were surrendered for $4,148.71 cash. Seller's financials are for Charter National Bank.
Accounting MethodPurchase
In-State Transaction?No
Merger of Equals?No
Geographic Expansion?Market Expansion
Goodwill Generated ($000)4,390
Estimated Cost Savings (%)NA
Estimated Cost Savings ($000)NA
Est. Restructuring Charges ($000)NA
Maximum Termination Fee ($000)NA
Minimum Termination Fee ($000)NA
Exchange Ratio (Common For Common)NA
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Lockup AgreementNo
Strike Price ($)NA
% of Shares OutstandingNA
Shares Under OptionNA
Core Deposit Intangibles ($000)NA
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
BuyerNANA

Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerNoNA
SellerYesCrowe & Dunlevy

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