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Mergers & Acquisitions

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Deal Overview

Buyer:
First Merchants Corp.
Actual Acquirer:
First Merchants Corp.
Target:
Lafayette Bancorporation
Deal Type:
Bank & Thrift Company
Agreement Date:
10/15/2001
Announcement Date:
10/15/2001
Announced Deal Value ($ M):
113.44
Status:
Completed
Completion Date:
4/1/2002
Announced Deal Value Per Share ($ )
27.60

Consideration Breakout
Cash ($M) 48.5
Common Stock ($M) 72.8
Common Stock Issued 3,057,298

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 193.9 197.3
Price / Tangible Book (%) 250.0 249.0
Price / Earnings (x) 16.0 16.0
Price / Deposits (%) 19.06 19.61
Price / Assets (%) 15.20 15.91
Tangible Book Premium/ Deposits (%) 12.96 13.23
Deal Terms
Description of Consideration

Lafayette shareholders received $30.00 in cash or 1.11 shares of FRME stock for each share held. The cash portion of the consideration was limited to about 40% of the total or $50,866,560.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 57,893
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 2,500
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) 1.110000
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) 16,052
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes RBC Capital Markets LLC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Bingham Greenebaum Doll LLP
Seller Yes Barnes & Thornburg LLP

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