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Deal Overview

Buyer:
Univest Corporation of Pennsylvania
Actual Acquirer:
Union Natl B&TC of Souderton
Target:
First County Bank
Deal Type:
Bank & Thrift Company
Agreement Date:
1/10/2003
Announcement Date:
1/10/2003
Announced Deal Value ($ M):
29.48
Status:
Completed
Completion Date:
5/17/2003
Announced Deal Value Per Share ($ )
19.31

Consideration Breakout
Cash ($M) 29.5

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 256.6 249.0
Price / Tangible Book (%) 284.0 274.1
Price / Earnings (x) NM 37.0
Price / Deposits (%) 27.52 27.30
Price / Assets (%) 21.46 21.26
Tangible Book Premium/ Deposits (%) 21.64 20.89
Deal Terms
Description of Consideration

Univest paid about $19.3118 in cash for each share of First County.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) 20,850
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 1,500
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) 1,418
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Macquarie USA LLC
Seller Yes Danielson Associates LLC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Fox Rothschild LLP
Seller Yes Curtin & Heefner
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