Brief: Bogota Savings Bank And Gibraltar Bank To Merge

Bogota Financial

03/09/2020 21:33

Sept 3 (Reuters) - Bogota Financial Corp  BSBK.O :
    * BOGOTA SAVINGS BANK AND GIBRALTAR BANK TO MERGE
    * BOGOTA FINANCIAL CORP - WILL ISSUE ADDITIONAL SHARES OF
ITS
COMMON STOCK TO BOGOTA FINANCIAL, MHC IN AN AMOUNT EQUAL TO FAIR
VALUE OF GIBRALTAR
    * BOGOTA FINANCIAL CORP - ON A PRO FORMA BASIS, TRANSACTION
IS
EXPECTED TO BE ACCRETIVE TO BOGOTA FINANCIAL'S 2021 NET INCOME
AND EARNINGS PER SHARE
    * BOGOTA FINANCIAL CORP - TRANSACTION IS PROJECTED TO BE
ACCRETIVE
TO FULLY-CONVERTED TANGIBLE BOOK VALUE.

Source text for Eikon:  ID:nBwbgX0x9a 
Further company coverage:  BSBK.O 

 ((Reuters.Briefs@thomsonreuters.com;))