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Deal Overview

Buyer:
Southside Bancshares, Inc.
Actual Acquirer:
Southside Bank
Target:
OmniAmerican Bancorp, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
4/28/2014
Announcement Date:
4/29/2014
Announced Deal Value ($ M):
314.97
Status:
Completed
Completion Date:
12/17/2014
Announced Deal Value Per Share ($ )
26.71

Consideration Breakout
Cash ($M) 151.6
Common Stock ($M) 148.8
Common Stock Issued 5,168,138

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 146.7 139.7
Price / Tangible Book (%) 146.7 139.7
Price / Earnings (x) 47.7 50.0
Price / Deposits (%) 37.83 38.34
Price / Assets (%) 22.65 22.90
Tangible Book Premium/ Deposits (%) 15.00 13.66
Deal Terms
Description of Consideration

Southside Bancshares Inc. paid $13.125 per share in cash and exchanged 0.4459 shares of its common stock for each outstanding share of OmniAmerican Bancorp Inc.

Accounting Method Acquisition
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Partial Overlap
Goodwill Generated ($ 000) 69,486
Estimated Cost Savings (%) 30.00
Estimated Cost Savings ($ 000) 13,485
Est. Restructuring Charges ($ 000) 15,646
Maximum Termination Fee ($ 000) 10,000
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) 0.445900
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) 8,570
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Keefe Bruyette & Woods Inc.
Seller Yes Sandler O'Neill & Partners LP
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Alston & Bird LLP
Seller Yes Haynes and Boone LLP
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