Return to Mergers & Acquisitions

Deal Overview

Buyer:
South Umpqua Bank
Actual Acquirer:
South Umpqua Bank
Target:
United Bancorp
Deal Type:
Bank & Thrift Company
Agreement Date:
6/12/1998
Announcement Date:
6/12/1998
Announced Deal Value ($ M):
30.20
Status:
Terminated
Completion Date:
8/21/1998
Announced Deal Value Per Share ($ )
18.00

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 257.4 NA
Price / Tangible Book (%) 257.4 NA
Price / Earnings (x) 22.0 NA
Price / Deposits (%) 39.99 NA
Price / Assets (%) 26.41 NA
Tangible Book Premium/ Deposits (%) 24.97 NA
Deal Terms
Description of Consideration

United Bancorp shareholders would have received Umpqua common stock worth $18 for each share held. Seller's financials are for Douglas National National Bank. Buyer's financials are for South Umpqua Bank.

Accounting Method Pooling of Interests
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) NA
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 Agreement NA
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Black & Co.
Seller Yes Sheshunoff & Co.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Foster Pepper PLLC
Seller NA NA