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Deal Overview

Buyer:
Univest Corporation of Pennsylvania
Actual Acquirer:
Univest Bank and Trust Co.
Target:
Valley Green Bank
Deal Type:
Bank & Thrift Company
Agreement Date:
6/17/2014
Announcement Date:
6/18/2014
Announced Deal Value ($ M):
77.70
Status:
Completed
Completion Date:
1/1/2015
Announced Deal Value Per Share ($ )
27.00

Consideration Breakout
Common Stock ($M) 76.7
Common Stock Issued 3,787,866

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 233.6 212.6
Price / Tangible Book (%) 233.9 212.6
Price / Earnings (x) 15.3 17.4
Price / Deposits (%) 23.20 20.48
Price / Assets (%) 20.98 18.59
Tangible Book Premium/ Deposits (%) 25.27 20.02
Deal Terms
Description of Consideration

Univest Corp. of Pennsylvania exchanged 1.3541 shares of its common stock for each outstanding share of Valley Green Bank. Univest Corp. of Pennsylvania also paid approximately $2.2 million in cash to the holders of Valley Green Bank stock options.

Accounting Method Acquisition
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 43,516
Estimated Cost Savings (%) 29.00
Estimated Cost Savings ($ 000) 2,693
Est. Restructuring Charges ($ 000) 5,200
Maximum Termination Fee ($ 000) 3,000
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) 1.3541
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) 1,520
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Griffin Financial Group LLC
Seller Yes Keefe Bruyette & Woods Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Stevens & Lee PC
Seller Yes Stradley Ronon Stevens & Young
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