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Deal Overview

Buyer:
Wintrust Financial Corporation
Actual Acquirer:
Wintrust Financial Corporation
Target:
Rush-Oak Corporation
Deal Type:
Bank & Thrift Company
Agreement Date:
2/19/2019
Announcement Date:
2/20/2019
Announced Deal Value ($ M):
46.00
Status:
Completed
Completion Date:
5/24/2019
Announced Deal Value Per Share ($ )
NA

Consideration Breakout
Cash ($M) 46.0

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 158.1 158.1
Price / Tangible Book (%) 158.1 158.1
Price / Earnings (x) 36.2 36.2
Price / Deposits (%) 29.14 28.17
Price / Assets (%) 23.53 22.85
Tangible Book Premium/ Deposits (%) 16.34 22.09
Deal Terms
Description of Consideration

Wintrust Financial Corp. paid approximately $46 million in cash for all of the outstanding shares of Rush-Oak Corp. The transaction value included the appreciated value of the real property, which is in a premier location in the Gold Coast neighborhood of Chicago. Wintrust Financial Corp. also repaid Rush-Oak Corp.'s debt. The target financials are for Oak Bank.

Accounting Method Acquisition
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 No NA
Seller Yes Stephens Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Schiff Hardin LLP
Seller Yes Hinshaw & Culbertson LLP
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