Merger & Acquisitions

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Overview
Buyer: Emclaire Financial Corp
Target: Peoples Savings Financial Corp
Target State: Ridgway, PA
Company Type:Holding Company
Deal Type:BUY
Announcement Date:Mar 20, 1998
Status: Completed
Completion Date: Aug 31, 1998
Deal Statistics Announcement Completion
Deal Value ($) 12,229 13,737
Deal Value Per Share ($) 26.00 29.09
Price / Earnings (x) 31.12 33.02
Price / Deposit (x) 34.85 38.56
Price / Asset (%) 27.49 30.47
Price / Book (%) 1.32 N/A
Price / Equity (%) 1.32 N/A
Price / Tangible Book (%) N/A 1.38
Price / Tangible Equity (%) 1.32 1.48
Deal Terms

Description of Consideration
Emclaire Financial Corp. has acquired Peoples Savings Financial Corporation for a combination of cash and common stock valued at approximately $13.7 million or $29.09 per share. Peoples Savings Financial is the holding company for Peoples Savings Bank. Emclaire is the holding company for Farmers National Bank of Emlenton and has eight offices in Venango, Butler and Clarion counties. Peoples has three offices in Elk, Jefferson and Clearfield counties. As of December 31, 1997, Peoples had assets of $44.5 million and deposits of $35.2 million. The transaction was accounted for using the purchase method of accounting. The transaction was completed on August 31, 1998. Peoples Savings Bank was merged with and into Farmers National Bank of Emlenton.

Percent acquired 100%
Purchase Method Cash,Common Stock
Cash Payment ($) 5,177
Merger of Equals Yes
Goodwill Generated 2,074
Termination Fee 600
Shares Under Option 45,297
Exchange Ratio (Common For Common) 1.24

Merger & Acquisitions information is provided by Highline Financial LLC. The company makes no representations or warranties with respect to the information contained herein and takes no responsibility for supplementing, updating, or correcting any such information.

Stock Quote (NASDAQ: EMCF)
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Emclaire Financial Corp
612 Main Street
P.O. Box D
Emlenton, PA 16373
(844) 767-2311

Investor Relations Contact
Mr. William C. Marsh
Chairman of the Board, President and CEO
investor.relations@farmersnb.com

Transfer Agent
American Stock Transfer & Trust Company, LLC
6201 15th Avenue
Brooklyn, NY 11219
(800) 937-5449
American Stock Transfer