Brief: Republic Bank & Trust Co to buy Cornerstone Community Bank
07/10/2015 14:00
Oct 7 (Reuters) - Republic Bancorp Inc RBCAA.O :
* Republic bank & trust company expands its Florida market footprint with the
acquisition of cornerstone community bank
* Signing of an agreement and plan of merger under which Republic will acquire
cornerstone, with ccb merging into rb&t
* Says will fund the cash payment through existing resources on-hand
* Says total cash payment to cornerstone's existing shareholders and stock
option holders of approximately $32.3 million
* Merger expected to be accretive to earnings per class a common share during
first twelve months, post-acquisition
* Says company will acquire all of cornerstone's outstanding common stock in an
all-cash transaction
* Source text for Eikon ID:nBw5YCHT2a
* Further company coverage RBCAA.O
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