Brief: FS Bancorp And Anchor Bancorp Agree To Merge In Deal Valued At About $77 Mln

FS Bancorp

18/07/2018 01:10

July 17 (Reuters) - FS Bancorp Inc  FSBW.O :
    * PRESS RELEASE - FS BANCORP, INC. AND ANCHOR BANCORP AGREE
TO
MERGE IN A TRANSACTION VALUED AT APPROXIMATELY $77 MILLION
    * DEAL IMMEDIATELY ACCRETIVE TO TANGIBLE BOOK VALUE PER
SHARE AT
TRANSACTION CLOSE
    * DEAL ESTIMATED TO BE ACCRETIVE TO EARNINGS PER SHARE IN
2019
    * AS OF MARCH 31, 2018, ON A PRO FORMA CONSOLIDATED BASIS,
COMBINED COMPANY WOULD HAVE APPROXIMATELY $1.5 BILLION IN
ASSETS, $1.2 BILLION IN DEPOSITS
    * BOARDS OF DIRECTORS OF FS BANCORP AND ANCHOR HAVE
UNANIMOUSLY
APPROVED THE PROPOSED MERGER
    * FS BANCORP WILL PAY AGGREGATE CONSIDERATION OF 725,585
SHARES OF
FS BANCORP COMMON STOCK AND $30.8 MILLION IN CASH
    * FS BANCORP -EACH SHARE OF ANCHOR COMMON STOCK WILL RECEIVE
FIXED
CONSIDERATION CONSISTING OF 0.2921 SHARES OF CO'S COMMON STOCK
AND $12.40/SHARE IN CASH

Source text for Eikon:  ID:nGNX2T4JF6 
Further company coverage:  FSBW.O 

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