Brief: Northfield Bancorp To Acquire VSB Bancorp Expanding Staten Island Franchise

Northfield Bancorp

23/12/2019 16:11

Dec 23 (Reuters) - Northfield Bancorp Inc  NFBK.O :
    * NORTHFIELD BANCORP, INC. TO ACQUIRE VSB BANCORP, INC.
EXPANDING
STATEN ISLAND FRANCHISE
    * DEAL FOR APPROXIMATELY $62.9 MILLION
    * VSB WILL MERGE WITH AND INTO NORTHFIELD.
    * PRICE FOR VSB SHAREHOLDERS IS FIXED AT $33.30 PER SHARE,
SUBJECT
TO A 5% COLLAR
    * UPON COMPLETION OF TRANSACTION, IT IS ESTIMATED THAT
NORTHFIELD
WILL HAVE COMBINED ASSETS OF $5.2 BILLION
    * DEFINITIVE AGREEMENT HAS BEEN APPROVED BY BOARDS OF EACH
ENTITY
    * ALL VSB DIRECTORS AND EXECUTIVE OFFICERS HAVE ENTERED INTO
VOTING AGREEMENTS TO VOTE THEIR SHARES IN FAVOR OF TRANSACTION
    * DEAL TO BE 8.5% ACCRETIVE TO CO'S 2021 EARNINGS PER SHARE
    * DEAL LESS THAN 2.5% DILUTIVE TO TANGIBLE BOOK VALUE PER
SHARE OF
CO AT CLOSING

Source text for Eikon:  urn:newsml:reuters.com:*:nGNXbDJRRh
Further company coverage:  NFBK.O 

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