County Bancorp surges to more than four-year high after acquisition

Nicolet Bankshares

22/06/2021 16:30

** County Bancorp  ICBK.O  shares shoot up 45.86% to $34.12
after hitting high of $35.82; highest level since March 16, 2017
    ** ICBK agreed to be acquired by Nicolet Bankshares
 NCBS.O , down 1.16% at $70.92, in a deal valued at about $219
million  urn:newsml:reuters.com:*:nASA02BMS
    ** Under terms of the deal, ICBK shareholders to receive
either $37.18 in cash or 0.48 shares of Nicolet common stock
    ** The companies expect FY22 EPS accretion to be in the
mid-single digits; expected tangible book value dilution of 1.2%
is anticipated to be earned back in about 1.4 yrs
    ** Through Monday's close, ICBK shares up 5.75% YTD vs gain
of about 28% for KBW regional bank index  .KRX  
    ** Current median price target of ICBK is $26.25 per share,
up from $25 three months ago





 (Reporting by Chuck Mikolajczak)
 ((charles.mikolajczak@tr.com; @ChuckMik;))