Sussex Bancorp Announces a Merger With Community Bank of Bergen County, NJ
SUSSEX BANCORP (SBBX)
Last sussex bancorp earnings: 4/29 04:30 pm
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US:NASDAQ Investor Relations:
sussexbank.com/about/corporate-profile
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Source: GlobeNewswire
ROCKAWAY, N.J., April 11, 2017 (GLOBE NEWSWIRE) -- Sussex Bancorp (Nasdaq:SBBX), the holding company for Sussex Bank, and Community Bank of Bergen County, NJ (OTCMKTS:CMTB) (“Community Bank”), are pleased to jointly announce that Sussex Bancorp and Community Bank have entered into a definitive agreement pursuant to which Sussex Bancorp will acquire Community Bank in an all-stock transaction. Under the terms of the agreement Community Bank will merge with and into Sussex Bank and each outstanding share of Community Bank common stock will be exchanged for 0.97 shares of SBBX common stock. The transaction is presently valued at $45.4 million, or approximately $23.52 per CMTB share, based upon the 10 day volume weighted average common stock price of $24.25 for Sussex Bancorp as of April 7, 2017. The merger enhances and expands Sussex Bank’s presence in
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