Brief: First Bank Announces Agreement to Acquire Grand Bank, N.A.

FIRST BANK (Hamilton)

19/03/2019 22:23

March 19 (Reuters) - First Bank  FRBA.O :
    * FIRST BANK ANNOUNCES AGREEMENT TO ACQUIRE GRAND BANK, N.A.
    * PROPOSED DEAL FOR STOCK TRANSACTION VALUED AT
APPROXIMATELY
$19.4 MILLION
    * TRANSACTION WILL BE IMMEDIATELY ACCRETIVE TO FIRST BANK
EARNINGS
PER SHARE
    * GRAND BANK SHAREHOLDERS WILL GET 3,262.956 SHARES OF CO
PER EACH
GRAND BANK SHARE IN AN ALL-STOCK EXCHANGE
    * EXPECTS TO ISSUE APPROXIMATELY 1.7 MILLION NEW SHARES OF
FIRST
BANK COMMON STOCK TO CONSUMMATE THIS TRANSACTION

Source text for Eikon:  ID:nGNX9Bf6Gq 
Further company coverage:  FRBA.O 

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