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Mergers & Acquisitions

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Deal Overview

Sussex Bancorp
Actual Acquirer:
Sussex Bank
Community Bank of Bergen County, NJ
Deal Type:
Bank & Thrift Company
Agreement Date:
Announcement Date:
Announced Deal Value ($ M):
Completion Date:
Announced Deal Value Per Share ($ )

Consideration Breakout
Common Stock ($M) 49.6
Common Stock Issued 1,873,118

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 158.2 168.3
Price / Tangible Book (%) 158.2 168.3
Price / Earnings (x) 27.9 NM
Price / Deposits (%) 14.73 16.57
Price / Assets (%) 13.17 14.39
Tangible Book Premium/ Deposits (%) 6.13 7.55
Deal Terms
Description of Consideration

Sussex Bancorp exchanged 0.9700 shares of its common stock for each of the outstanding share of Community Bank Bergen County New Jersey.

Accounting Method Acquisition
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) 22,298
Estimated Cost Savings (%) 35.00
Estimated Cost Savings ($ 000) 3,100
Est. Restructuring Charges ($ 000) 4,900
Maximum Termination Fee ($ 000) 1,816
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) 0.970000
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) 1,331
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Keefe Bruyette & Woods Inc.
Seller Yes FinPro Capital Advisors Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Hogan Lovells US LLP
Seller Yes Stevens & Lee PC