Mergers & Acquisitions

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Deal Overview

Buyer:
United Community Financial Corp.
Actual Acquirer:
Home Savings & Loan Company
Target:
PVF Capital Corp.
Deal Type:
Bank & Thrift Company
Agreement Date:
7/24/2007
Announcement Date:
4/1/2008
Announced Deal Value ($ M):
135.63
Status:
Terminated
Completion Date:
4/1/2008
Announced Deal Value Per Share ($ )
16.85

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 182.7 NA
Price / Tangible Book (%) 182.7 NA
Price / Earnings (x) 25.5 NA
Price / Deposits (%) 20.33 NA
Price / Assets (%) 14.94 NA
Tangible Book Premium/ Deposits (%) NA NA
Deal Terms
Description of Consideration

United Community Financial Corp. would have paid $18.50 in cash or issued 1.852 shares of its common stock for each share of PVF Capital Corp., subject to 50% of PVF shares being paid in cash. Options would have been exchanged for cash.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 56,413
Estimated Cost Savings (%) 25.00
Estimated Cost Savings ($ 000) 5,423
Est. Restructuring Charges ($ 000) 8,346
Maximum Termination Fee ($ 000) 5,750
Minimum Termination Fee ($ 000) 0
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 No
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) 5,716
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Stifel Nicolaus & Co.
Seller Yes Keefe Bruyette & Woods Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Vorys Sater Seymour and Pease
Seller Yes Muldoon Murphy & Aguggia LLP