Deal values, assets, and deposits are as of the Announcement Date. Deals announced from 1996 to present.

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Deal Overview

Buyer:
Community Bank System, Inc.
Actual Acquirer:
Community Bank System, Inc.
Target:
ONB Corporation
Deal Type:
Bank & Thrift Company
Agreement Date:
8/2/2006
Announcement Date:
8/2/2006
Announced Deal Value ($ M):
15.67
Status:
Completed
Completion Date:
12/1/2006
Announced Deal Value Per Share ($ )
210.00

Consideration Breakout
Cash ($M) 15.7

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 167.9 167.9
Price / Tangible Book (%) 167.9 167.9
Price / Earnings (x) 21.0 21.0
Price / Deposits (%) 18.92 18.92
Price / Assets (%) 16.41 16.41
Tangible Book Premium/ Deposits (%) 8.38 8.38
Deal Terms
Description of Consideration

Community Bank System Inc. paid $15.7 million in cash to acquire ONB Corp. Seller's financials are of Ontario National Bank.

Accounting Method Purchase
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) 750
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) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Janney Montgomery Scott LLC
Seller Yes Sandler O'Neill & Partners LP
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Bond Schoeneck & King PLLC
Seller Yes Harter Secrest & Emery LLP
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