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Deal Overview

Buyer:
Undisclosed buyer
Actual Acquirer:
Undisclosed buyer
Target:
Credit card loan portfolio
Deal Type:
Specialty Finance Portfolio
Seller:
Timberland Bancorp, Inc.
Agreement Date:
12/31/2004
Announcement Date:
12/31/2004
Announced Deal Value ($ M):
1.66
Status:
Completed
Completion Date:
12/31/2004

Consideration Breakout
Unclassified ($M) 1.7

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 110.60 110.60
Price / Managed Receivables (%) NA NA
Deal Terms
Description of Consideration

Deal value is estimated to be $1,659,250 and is calculated from $1.5 million of equity from the portfolio and $159,250 of post-tax gain on sale (assumes a 35% corporate tax rate) taken from the $245,000 pre-tax gain on sale.

Percent Acquired (%) 100.00
Purchase Method Purchase
Merger of Equals? No
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA