Perham State Bancshares to acquire Farmers State Bank of Dent

10-Jan-2012

SNL Financial LC | 10-Jan-2012
By Syed Atif Hussain

Perham, Minn.-based Perham State Bancshares Inc. has agreed to acquire Dent, Minn.-based Dent Bancshares Inc. unit Farmers State Bank of Dent ($31.3 million).

Terms of the deal, which is expected to close in the first quarter, were not disclosed.

According to data compiled by SNL, offers for bank and thrift targets in the Midwest region during the year ended Dec. 29 , 2011, averaged 96.88% of book, 103.50% of tangible book and had a median of 17.47x last-12-months earnings, on an aggregate basis.

Perham State Bancshares will expand in Otter Tail County, Minn., by two branches to be ranked first with a 16.24% share of approximately $1.10 billion in total market deposits, SNL data shows.

 

Copyright © 2012, SNL Financial LC

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