Brief: Townebank announces agreement to acquire Farmers Bankshares and Farmers Bank

TowneBank

18/08/2022 13:17

Aug 18 (Reuters) - Farmers Bankshares Inc  FBVA.PK :
    * TOWNEBANK ANNOUNCES AGREEMENT TO ACQUIRE FARMERS
BANKSHARES,
INC. AND FARMERS BANK
    * TOWNE BANK- SHAREHOLDERS OF FARMERS WILL RECEIVE 0.6050
SHARES
OF TOWNEBANK COMMON STOCK FOR EACH SHARE OF FARMERS OWNED
    * TOWNE BANK- DEAL IMPLIES A DEAL VALUE PER SHARE OF $17.82,
OR
APPROXIMATELY $56.0 MILLION
    * TOWNE BANK- EXPECTS MERGER TO BE APPROXIMATELY 5%
ACCRETIVE TO
EARNINGS PER SHARE WITH FULLY PHASED-IN COST SAVINGS ON A GAAP
BASIS

Source text for Eikon:  ID:nGNXbKPgSR 
Further company coverage:  FBVA.PK