Mergers & Acquisitions

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Deal Overview

Buyer:
Nara Bancorp, Inc.
Actual Acquirer:
Nara Bank, National Association
Target:
Asiana Bank
Deal Type:
Bank & Thrift Company
Agreement Date:
4/25/2003
Announcement Date:
4/25/2003
Announced Deal Value ($ M):
8.00
Status:
Completed
Completion Date:
8/25/2003
Announced Deal Value Per Share ($ )
17.00

Consideration Breakout
Common Stock ($M) 8.0
Common Stock Issued 426,000

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 131.4 132.9
Price / Tangible Book (%) 131.8 133.3
Price / Earnings (x) NM NM
Price / Deposits (%) 24.41 21.24
Price / Assets (%) 20.55 18.28
Tangible Book Premium/ Deposits (%) 7.68 6.74
Deal Terms
Description of Consideration

Nara paid about $8 million in stock to acquire Asiana.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) 1,284
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 500
Minimum Termination Fee ($ 000) 0
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) 1,018
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Macquarie USA LLC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Morrison & Foerster LLP
Seller Yes Bingham McCutchen LLP
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