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Deal Overview

Buyer:
Seacoast Banking Corporation of Florida
Actual Acquirer:
First National Bank & Trust Co
Target:
American Bank Capital Corporation of Florida
Deal Type:
Bank & Thrift Company
Agreement Date:
12/29/1994
Announcement Date:
12/29/1994
Announced Deal Value ($ M):
9.60
Status:
Completed
Completion Date:
4/17/1995
Announced Deal Value Per Share ($ )
116.00

Consideration Breakout
Cash ($M) 9.6

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 281.8 281.8
Price / Tangible Book (%) 281.8 281.8
Price / Earnings (x) 23.4 NM
Price / Deposits (%) 15.54 15.44
Price / Assets (%) 14.18 13.95
Tangible Book Premium/ Deposits (%) 10.83 10.85
Deal Terms
Description of Consideration

American Capital received $116 in cash for each outstanding share. Minorityshareholders of American Bank of Martin County received $46.25 in cash for each share. Seller's financials are for American Bank of Martin County.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) 7,425
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) 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
Seller Yes Allen C. Ewing & Co.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Alston & Bird LLP
Seller Yes Rothgerber Johnson & Lyons LLP