Brief: Evans Bancorp Executes Definitive Merger Agreement To Acquire Fsb Bancorp

Evans Bancorp

19/12/2019 22:19

Dec 19 (Reuters) - Evans Bancorp Inc  EVBN.A :
    * EVANS BANCORP, INC. EXECUTES DEFINITIVE MERGER AGREEMENT
TO
ACQUIRE FSB BANCORP, INC.
    * EVANS BANCORP INC - FSB STOCKHOLDERS TO RECEIVE $17.80 PER
SHARE
IN STOCK AND CASH TRANSACTION
    * EVANS BANCORP INC - DEAL FOR TOTAL CONSIDERATION OF
APPROXIMATELY $34.7 MILLION.
    * EVANS BANCORP - TRANSACTION IS PROPOSED TO BE COMPRISED OF
50%
STOCK AND 50% CASH
    * EVANS BANCORP - UNDER TERMS, FSB STOCKHOLDERS WILL RECEIVE
EITHER 0.4394 SHARES OF CO'S STOCK OR $17.80 IN CASH FOR EACH
SHARE OF FSB STOCK
    * EVANS BANCORP- EXPECTS TRANSACTION TO BE 4.7% ACCRETIVE TO
2021
EARNINGS WITH TANGIBLE BOOK VALUE EARN BACK OF ABOUT 3.5 YEARS

Source text for Eikon:  ID:nBwbGJTysa 
Further company coverage:  EVBN.A 

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