csi, snfca isnt buying First Guaranty with any of their stock. Its is all cash and real estate. The 'all stock' transaction refers to the fact that they are buying all the stock of First Guaranty (as opposed to a sale of its assets}.
"Reppond Holding has only two shareholders. The purchase price for the Reppond Holdings stock will be allocated between the two shareholders of Reppond Holding. One of the shareholders will be paid $1,691,250 in cash at closing; the other shareholder will be paid $5,061,750 in a combination of cash and real estate properties owned by First Guaranty at closing, to the extent such real estate properties have not been sold prior to the closing, with the cash portion of the purchase price payable to such shareholder reduced by an amount equal to the book value of the real estate transferred to such shareholder at closing. The total book value of these real estate properties is $863,997."