FCB Announces Agreement to Acquire Floridian Community Bank for $88.1M [Seeking Alpha]
FCB FINANCIAL HOLDINGS INC (FCB)
Last fcb financial holdings inc earnings: 10/23 06:30 am
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US:NYSE Investor Relations:
investors.floridacommunitybank.com
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Source: Seeking Alpha
FCB Announces Agreement to Acquire Floridian Community Bank for $88.1MFCB Financial Holdings (NYSE:FCB)+1.45% to acquire Floridian Community Bank for $88.1M with each Floridian Community Bank shareholders to receive 0.4584x shares of FCB Class A common stock.The options to acquire Floridian Community common stock will be cashed out at the completion of the merger for ~$4M.The company estimates annual pre-tax expense savings to be approx. 45% of Floridian Community’s run-rate expenses in 2018.The merger integration-related costs are expected to be $8M - $10M.The transaction is expected to be ~1% and 2% accretive to 2018 and 2019 EPS respectively and with an expected tangible book value per share dilution will be less than 1% at closing, including all transaction-related expenses, with an expected earn-back of 2.75 years using the crossover methodology.Press ReleaseNow read:Bank Of The Ozarks Takes New York »
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