RBB Bancorp Announces Plan to Acquire Chicago-based Pacific Global Bank
RBB Bancorp (RBB)
Last rbb bancorp earnings: 4/20 04:11 pm
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US:NASDAQ Investor Relations:
royalbusinessbankusa.com/investor-relations.htm
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Source: PR Newswire
LOS ANGELES, Sept. 6, 2019 /PRNewswire/ --Key Highlights of the Proposed Transaction:Provides RBB with an initial foothold in the Chicago market Accretive to EPS with a short tangible book value dilution payback period Highly compatible business model and shared credit cultureRBB Bancorp (NASDAQ: RBB) and its subsidiaries, Royal Business Bank and RBB Asset Management Company (collectively referred to herein as "RBB" or the "Company"), announced today that it has entered into a definitive merger agreement with PGB Holdings, Inc. and its wholly-owned subsidiary Pacific Global Bank (collectively referred to herein as "Pacific Global Bank" or "PGB"), whereby RBB will acquire PGB in a cash transaction valued at approximately $32.5 million. PGB owns two of its three branches with an estimated fair market value of approximately $2 million in excess of book value. Pacific Global Bank, a commercial bank based in Chicago, IL, had total assets of $223.3 million, total gross loans of $168.8 mill
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