Brief: Baycom Corp And Grand Mountain Bancshares, Inc. Announce Execution Of Definitive Merger Agreement

Baycom

04/11/2019 14:26

Nov 4 (Reuters) - BayCom Corp  BCML.O :
    * BAYCOM CORP AND GRAND MOUNTAIN BANCSHARES, INC. ANNOUNCE
EXECUTION OF DEFINITIVE MERGER AGREEMENT
    * BAYCOM CORP -  HAS AGREED TO ACQUIRE GMB IN AN ALL CASH
TRANSACTION VALUED AT APPROXIMATELY $13.9 MILLION
    * BAYCOM CORP - AGREEMENT ALSO CALLS FOR MERGER OF GRAND
MOUNTAIN
BANK WITH AND INTO UNITED BUSINESS BANK
    * BAYCOM CORP - GMB WILL BE MERGED WITH AND INTO BAYCOM
    * BAYCOM CORP - EACH GMB SHAREHOLDER WILL RECEIVE $3.40 IN
CASH IN
EXCHANGE FOR EACH SHARE OF GMB COMMON STOCK IN DEAL
    * BAYCOM - TRANSACTION WILL EXPAND COMPANY'S PRESENCE IN
COLORADO
    * BAYCOM -  ANTICIPATES TRANSACTION WILL BE ACCRETIVE TO
EARNINGS
IN 1ST YEAR OF COMBINED OPERATIONS
    * BAYCOM - COMBINED CO WILL HAVE APPROXIMATELY $2.2 BILLION
IN
TOTAL ASSETS, $1.5 BILLION IN TOTAL LOANS AND $1.8 BILLION IN
TOTAL DEPOSITS
    * BAYCOM CORP - ANTICIPATES TRANSACTION WILL BE ACCRETIVE TO
TANGIBLE BOOK VALUE IN LESS THAN THREE YEARS

Source text for Eikon:  ID:nBw72tQ3ga 
Further company coverage:  BCML.O 

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