Centreville Bank and PB Bancorp, Inc. Announce Receipt of Regulatory Approvals and Targeted Closing Date of Pending Merger
PB BANCORP (PBBI)
US:NASDAQ Investor Relations:
putnambank.com/about-us/investor-relations
Company Research
Source: PR Newswire
WEST WARWICK, R.I. and PUTNAM, Conn., April 27, 2020 /PRNewswire/ -- Centreville Bank, a Rhode Island-chartered savings bank, and PB Bancorp, Inc. (NASDAQ Capital Market: PBBI) jointly announced today that all regulatory approvals relating to the acquisition by Centreville Bank of PB Bancorp and its wholly owned subsidiary, Putnam Bank, have been received. PB Bancorp shareholders previously approved the merger at a special meeting of shareholders on February 7, 2020. The merger is targeted to close before the opening of business on May 1, 2020. Under the terms of the merger agreement, PB Bancorp shareholders will receive cash of $15.25 for each share of PB Bancorp. After the closing, Centreville will provide instructions to PB Bancorp shareholders for exchanging their stock certificates for the cash payment.About Centreville BankFounded in 1828 and headquartered in West Warwick, Rhode Island, Centreville Bank is a full-service mutual bank operating through seven branch locations in
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