TowneBank (NASDAQ:TOWN) mentioned it’s going to purchase Village Financial institution and Belief Monetary (NASDAQ:VBFC) for a deal worth of $120M.
Below the deal, Village is predicted to get $80.25 per share.
TOWN expects the deal to be ~6% accretive to earnings per share with totally phased-in price financial savings on a GAAP foundation.
The deal is predicted to shut within the first half of subsequent 12 months.