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 NA
Target:
First Nat'l Bank of Hermon
Deal Type:
Bank & Thrift Company
Agreement Date:
11/9/1994
Announcement Date:
11/9/1994
Announced Deal Value ($ M):
0.70
Status:
Terminated
Completion Date:
1/27/1995
Announced Deal Value Per Share ($ )
73.00

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 70.8 NA
Price / Tangible Book (%) 70.8 NA
Price / Earnings (x) 18.7 NA
Price / Deposits (%) 13.44 NA
Price / Assets (%) 11.27 NA
Tangible Book Premium/ Deposits (%) (5.54) NA
Deal Terms
Description of Consideration

First National Bank of Hermon shareholders would have received $73.00 in cash for each share held.

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) 0
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) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Bond Schoeneck & King PLLC
Seller NA NA
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