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Stock impact report

KS Bancorp President’s Statement

First Citizens BancShares, Inc. - Class A (FCNCA) 
Company Research Source: GlobeNewswire
SMITHFIELD, N.C., Nov. 17, 2017 (GLOBE NEWSWIRE) -- KS Bancorp, Inc. (OTCBB:KSBI), parent company of KS Bank, Inc., issued a statement regarding the unsolicited indications of interest received earlier this year from First Citizens BancShares, Inc. (“First Citizens”) (NASDAQ:FCNCA).  On June 30, 2017 and then again on July 13, 2017, First Citizens wrote to KS Bancorp, expressing interest in pursuing a possible acquisition of KS Bancorp (together, the “Non-binding Indication of Interest”).  KS Bancorp’s Board of Directors subsequently engaged a nationally-recognized investment banking firm, with particular experience advising financial institutions across the United States, to conduct a detailed analysis of the Non-binding Indication of Interest and to advise the Board as to whether the financial interests of KS Bancorp’s shareholders are better served by pursuing a sale or continuing to operate KS Bancorp as an independent company. After thorough and extended consideration of the a Show less Read more
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