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Deal Overview

Buyer:
Wintrust Financial Corporation
Actual Acquirer:
Wintrust Financial Corporation
Target:
Town Bankshares, Ltd
Deal Type:
Bank & Thrift Company
Agreement Date:
6/14/2004
Announcement Date:
6/14/2004
Announced Deal Value ($ M):
41.44
Status:
Completed
Completion Date:
10/4/2004
Announced Deal Value Per Share ($ )
129.10

Consideration Breakout
Cash ($M) 18.6
Common Stock ($M) 22.8
Common Stock Issued 372,535

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 245.1 232.8
Price / Tangible Book (%) 245.1 232.8
Price / Earnings (x) 29.2 22.4
Price / Deposits (%) 21.93 20.28
Price / Assets (%) 19.13 17.41
Tangible Book Premium/ Deposits (%) 20.05 18.85
Deal Terms
Description of Consideration

Wintrust paid $71.00 in common stock and $58.10 in cash to acquire each share of Town Bankshares.

Accounting Method Purchase
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 24,707
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 1,000
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 No
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) 1,016
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Corporate Financial Advisors
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Schiff Hardin LLP
Seller Yes Reinhart Boerner Van Deuren sc
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