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Private investors to acquire additional stake in Vermillion Bancshares

JamesPoepl, Jacob Poepl and Matthew Poepl are seeking to acquire an additional stakein Vermillion, Minn.-based Vermillion Bancshares Inc., according to aninteragency notice of change in control application filed March 23 and obtainedby S&P Global Market Intelligence.

The filingnoted that the number of shares per class of voting securities to be sold ortransferred by Vermillion BancsharesChairman, President and CEO John Poepl is 92.8062 shares.

The applicants alreadycollectively own 21.625 shares representing about 9.64% of the outstandingshares, and will own 51% after the acquisition.

The company has 1,100authorized voting shares, with 224.375 outstanding.

Terms of the were not disclosed inthe filing. But for comparison, SNL valuations for bank and thrifttargets in the Midwest region between Feb. 28, 2015, and Feb. 28,2016, averaged 129.23% of book, 133.65% of tangible book and had a median of18.25x last-12-months earnings, on an aggregate basis.