Brief: Citizens Community Bancorp To Acquire F. & M. Bancorp. Of Tomah

Citizens Community Bancorp

22/01/2019 13:44

Jan 22 (Reuters) - Citizens Community Bancorp Inc  CZWI.O :
    * CITIZENS COMMUNITY BANCORP, INC. TO ACQUIRE F. & M.
BANCORP. OF
TOMAH, INC.
    * CITIZENS COMMUNITY BANCORP INC - TRANSACTION VALUED AT
APPROXIMATELY $21.6 MILLION
    * CITIZENS COMMUNITY BANCORP INC - COST SAVINGS ARE
ESTIMATED AT
APPROXIMATELY $600 THOUSAND IN FY2019 AND $1.25 MILLION IN
FY2020.
    * CITIZENS COMMUNITY BANCORP INC - PETER REICHARDT, CEO,
WILL
CONTINUE IN HIS ROLE LEADING CCFBANK'S BUSINESS ACTIVITIES IN
TOMAH MARKET
    * CITIZENS COMMUNITY BANCORP - DEAL EXPECTED TO GENERATE
EARNINGS
ACCRETION IMMEDIATELY, RESULTING IN TANGIBLE BOOK VALUE DILUTION
EARN-BACK OF ABOUT 3 YRS
    * CITIZENS COMMUNITY BANCORP - TRANSACTION IS VALUED AT
ABOUT
$21.6 MILLION, OF WHICH 85% TO BE PAID IN CASH, 15% THROUGH
ISSUANCE OF NUMBER OF CZWI SHARES

Source text for Eikon:  ID:nGNX6Z8VRs 
Further company coverage:  CZWI.O 

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