NexTier, Inc. and Mars Bancorp, Inc. Announce Regulatory Approvals [Yahoo! Finance]
MARS BANCORP INC (MNBP)
Company Research
Source: Yahoo! Finance
Mars Bancorp, Inc. ("Mars") (OTCQX: MNBP), the holding company of Mars Bank , jointly announced today that they have received all regulatory approvals, including approval from the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Pennsylvania Department of Banking and Securities, necessary to complete the proposed merger of Mars Bancorp with and into NexTier, Inc. in accordance to the Agreement and Plan of Merger dated August 30, 2023 by and between NexTier and Mars (the "Merger Agreement"). "Our teams have been working diligently to ensure the merger transition is as smooth and simple as possible," stated Clem Rosenberger , NexTier's President and Chief Executive Officer. "We are pleased to have received all regulatory approvals, and this allows us to complete the merger process on-time as previously disclosed to Mars Bank customers." A legal closing for the Merger is scheduled for Friday, February 16th , with system conversion
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