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Deal Overview

Wintrust Financial Corporation
Actual Acquirer:
Wintrust Financial Corporation
Delavan Bancshares, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
Announcement Date:
Announced Deal Value ($ M):
Completion Date:
Announced Deal Value Per Share ($ )

Consideration Breakout
Cash ($M) 19.0
Common Stock ($M) 19.0
Common Stock Issued 422,122

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 143.0 145.0
Price / Tangible Book (%) 143.7 145.7
Price / Earnings (x) 31.1 NM
Price / Deposits (%) 22.73 22.87
Price / Assets (%) 18.45 18.32
Tangible Book Premium/ Deposits (%) 7.89 8.06
Deal Terms
Description of Consideration

Wintrust Financial Corp. paid 101.61 in cash and common stock to acquire each outstanding share of Delavan Bancshares Inc., subject to 50% of the consideration being paid in cash. Target financials are for Community Bank CBD. Exchange ratio was subject to adjustment based on Wintrust Financial Corp.’s closing price within a $39.5-49.5 cap/floor.

Accounting Method Acquisition
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Partial Overlap
Goodwill Generated ($ 000) 16,800
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 1,250
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) 920
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Robert W. Baird & Co.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Schiff Hardin LLP
Seller Yes Boardman & Clark LLP
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