Brief: First Bank To Acquire Malvern Bancorp

FIRST BANK (Hamilton)

14/12/2022 12:47

Dec 14 (Reuters) - FIRST BANK (Hamilton)  FRBA.O :
    * FIRST BANK AND MALVERN BANCORP, INC. REACH AGREEMENT ON
STRATEGIC COMBINATION
    * FIRST BANK (HAMILTON) - FIRST BANK WILL ACQUIRE MALVERN
BANCORP,
INC. AND MALVERN BANK IN A TRANSACTION VALUED AT APPROXIMATELY
$149.5 MILLION
    * FIRST BANK (HAMILTON) - TRANSACTION WILL BE SIGNIFICANTLY
AND
IMMEDIATELY ACCRETIVE TO FIRST BANK EARNINGS PER SHARE
    * FIRST BANK (HAMILTON) - MALVERN BANCORP SHAREHOLDERS WILL
RECEIVE 0.7733 SHARES OF FIRST BANK COMMON STOCK AND $7.80 IN
CASH PER EACH MALVERN BANCORP
    * FIRST BANK (HAMILTON) - EXPECTS TO ISSUE ABOUT 5.9 MILLION
NEW
SHARES OF FIRST BANK COMMON STOCK AND $59.4 MILLION IN CASH
CONSIDERATION TO CONSUMMATE DEAL

Source text for Eikon:  ID:nGNX5WS4Mq 
Further company coverage:  FRBA.O 
 ((Reuters.Briefs@thomsonreuters.com;))