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Deal Overview

Buyer:
Wintrust Financial Corporation
Actual Acquirer:
Wintrust Financial Corporation
Target:
First Northwest Bancorp, Incorporation
Deal Type:
Bank & Thrift Company
Agreement Date:
11/17/2004
Announcement Date:
11/17/2004
Announced Deal Value ($ M):
45.06
Status:
Completed
Completion Date:
3/31/2005
Announced Deal Value Per Share ($ )
22.04

Consideration Breakout
Cash ($M) 14.4
Common Stock ($M) 28.0
Common Stock Issued 595,123

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 477.6 389.4
Price / Tangible Book (%) 477.6 389.4
Price / Earnings (x) 22.6 19.2
Price / Deposits (%) 22.67 18.75
Price / Assets (%) 19.07 15.82
Tangible Book Premium/ Deposits (%) 22.67 17.98
Deal Terms
Description of Consideration

Wintrust paid $7.20 plus a variable amount based on a 0.2822 exchange ratio, in cash or stock to acquire each share of First Northwest, subject to 34% of shares being paid in cash and 66% in stock.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) 28,782
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 1,000
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) 3,600
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Hovde Financial Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Schiff Hardin LLP
Seller Yes Barack Ferrazzano Kirschbaum
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