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Deal Overview

Buyer:
First Financial Corporation
Actual Acquirer:
First Financial Corporation
Target:
Parke Bancorp, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
8/14/1992
Announcement Date:
8/14/1992
Announced Deal Value ($ M):
17.80
Status:
Completed
Completion Date:
8/14/1993
Announced Deal Value Per Share ($ )
82.09

Consideration Breakout
Common Stock ($M) 19.8
Common Stock Issued 357,456

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 168.8 182.7
Price / Tangible Book (%) 168.8 182.7
Price / Earnings (x) 17.2 17.2
Price / Deposits (%) 25.57 29.72
Price / Assets (%) 21.80 25.06
Tangible Book Premium/ Deposits (%) 11.30 14.64
Deal Terms
Description of Consideration

Parke shareholders received 1.65 shares of First Financial Corporation for each share held. Seller's financials are for Parke State Bank.

Accounting Method Pooling of Interests
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? NA
Goodwill Generated ($ 000) 0
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) 1.650000
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) 0
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes NatCity Investments Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Krieg DeVault LLP
Seller Yes Krieg DeVault LLP
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