Brief: Citizens Community Bancorp To Acquire United Bank From United Bancorporation

Citizens Community Bancorp

21/06/2018 12:49

June 21 (Reuters) - Citizens Community Bancorp Inc  CZWI.O :
    * CITIZENS COMMUNITY BANCORP INC TO ACQUIRE UNITED BANK FROM
UNITED BANCORPORATION, AND ENTERED INTO SECURITIES PURCHASE
AGREEMENTS FOR A PRIVATE PLACEMENT OF PREFERRED STOCK
    * CITIZENS COMMUNITY BANCORP INC - WILL ACQUIRE UNITED BANK
FROM
UNITED BANCORPORATION IN A CASH TRANSACTION VALUED AT ABOUT
$50.7 MILLION
    * CITIZENS COMMUNITY BANCORP - DEAL TO BE IMMEDIATELY
ACCRETIVE TO
EARNINGS, RESULTS IN A TANGIBLE BOOK VALUE DILUTION EARN BACK OF
ABOUT 4.4 YEARS
    * CITIZENS COMMUNITY BANCORP INC - ESTIMATED COST SAVINGS
ARE
PROJECTED TO BE GREATER THAN 40% OF UNITED BANK'S OPERATING
EXPENSES
    * CITIZENS COMMUNITY BANCORP - ENTERED INTO SECURITIES
PURCHASE
DEAL, REGISTRATION RIGHTS DEAL WITH LIMITED INSTITUTIONAL, OTHER
ACCREDITED INVESTORS

Source text for Eikon:  ID:nGNXbtqYp3 
Further company coverage:  CZWI.O 

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