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CSFL - CenterState Bank News Story

$18.14 0.8  4.7%

Last Trade - 05/06/20

Sector
Financials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £612.1m
Position in Universe th / 6429

BRIEF-Centerstate Bank Announces Acquisition Of National Commerce Corp

Mon 26th November, 2018 11:39am
Nov 26 (Reuters) - National Commerce Corp  NCOM.O :
    * CENTERSTATE BANK CORPORATION ANNOUNCES ACQUISITION OF
NATIONAL
COMMERCE CORPORATION
    * NATIONAL COMMERCE CORP - ALL-STOCK TRANSACTION
    * NATIONAL COMMERCE CORP - NATIONAL COMMERCE STOCKHOLDERS
WILL
RECEIVE 1.65 SHARES OF CSFL COMMON STOCK FOR EACH OUTSTANDING
SHARE OF NATIONAL COMMERCE COMMON STOCK
    * NATIONAL COMMERCE CORP - PROPOSED DEAL FOR EQUATES TO A
PER
SHARE VALUE OF $40.01 AND AN AGGREGATE TRANSACTION VALUE OF
$850.4 MILLION
    * NATIONAL COMMERCE CORP - TRANSACTION IS EXPECTED TO RESULT
IN
MID-SINGLE-DIGIT EPS ACCRETION ON A FULLY PHASED IN BASIS
    * NATIONAL COMMERCE CORP -  DEAL SEEN TO RESULT IN LIMITED
TANGIBLE BOOK VALUE DILUTION, EXPECTED TO BE EARNED BACK IN
ABOUT TWO YEARS
    * NATIONAL COMMERCE CORP - THREE NATIONAL COMMERCE DIRECTORS
WILL
JOIN BOTH COMPANY BOARD AND CENTERSTATE BANK BOARD
    * NATIONAL COMMERCE CORP - ONE ADDITIONAL DIRECTOR WILL JOIN
CENTERSTATE BANK BOARD
    * NATIONAL COMMERCE - CEO RICHARD MURRAY WILL JOIN
CENTERSTATE AS
CEO OF ITS UNIT CENTERSTATE BANK, N.A.
    * NATIONAL COMMERCE CORP - CFO WILLIAM E. MATTHEWS WILL JOIN
CENTERSTATE AS CHIEF FINANCIAL OFFICER OF BOTH BANK AND HOLDING
COMPANY

Source text for Eikon:  ID:nPn21cKNKa 
Further company coverage:  NCOM.O 

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