Mergers & Acquisitions

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Deal Overview

Buyer:
Coastal Banking Company, Inc.
Actual Acquirer:
First National Bank of Nassau County
Target:
Charter of Cairo Banking Co. & 1 branch
Deal Type:
Bank & Thrift Company
Agreement Date:
7/13/2006
Announcement Date:
7/13/2006
Announced Deal Value ($ M):
5.00
Status:
Completed
Completion Date:
10/27/2006
Announced Deal Value Per Share ($ )
66.67

Consideration Breakout
Cash ($M) 5.0

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 125.0 125.0
Price / Tangible Book (%) NA NA
Price / Earnings (x) NA NA
Price / Deposits (%) 67.25 67.25
Price / Assets (%) NA NA
Tangible Book Premium/ Deposits (%) NA NA
Deal Terms
Description of Consideration

Coastal Banking Co. paid $5.0 million in cash to acquire the Cairo Banking Company's corporate entity and branch in Meigs, Ga., subject to Cairo having $4.0 million in equity at closing.

Accounting Method Purchase
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 983
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 100
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) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Powell Goldstein LLP
Seller Yes Rogers & Hardin LLP
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