Brief: MVB Financial Corp Reports Merger With Integrated Financial Holdings

MVB Financial

12/08/2022 14:03

Aug 12 (Reuters) - MVB Financial Corp  MVBF.O :
    * MVB FINANCIAL CORP. ANNOUNCES MERGER WITH INTEGRATED
FINANCIAL
HOLDINGS
    * MVB FINANCIAL CORP - IFH SHAREHOLDERS WILL RECEIVE 1.21
SHARES
OF MVB COMMON STOCK FOR EACH SHARE OF IFH COMMON STOCK
    * MVB FINANCIAL CORP - IMPLIED PER SHARE PURCHASE PRICE IS
$41.79,
WITH AN AGGREGATE TRANSACTION VALUE OF APPROXIMATELY $98.0
MILLION
    * MVB FINANCIAL CORP - DEAL EXPECTED TO BE IMMEDIATELY
ACCRETIVE
TO TANGIBLE BOOK VALUE PER SHARE AT CLOSING, ABOUT 15% ACCRETIVE
TO EPS IN 2023
    * MVB FINANCIAL CORP - MVB WILL ACQUIRE INTEGRATED FINANCIAL
HOLDINGS, INC. IN AN ALL-STOCK TRANSACTION

Source text for Eikon:  ID:nBw8d1cyna 
Further company coverage:  MVBF.O 

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