Acquisition by Middlesex Expected to be Effective July 1, 2009
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MEDWAY, Mass., June 26 /PRNewswire-FirstCall/ -- Service Bancorp, Inc.
("Service Bancorp") (OTC Bulletin Board: SERC), the parent company of Strata
Bank, announced today that it expects its acquisition by Middlesex Bancorp,
MHC will become effective at 12:02 a.m. on July 1, 2009, and that trading in
Service Bancorp common stock will cease after the close of trading on June 30,
2009.
Service Bancorp also announced that all conditions, other than customary
closing conditions, necessary to consummate the proposed mergers of each of
Service Bancorp, M.H.C. and Service Bancorp with and into Middlesex Bancorp,
MHC and the merger of Strata Bank with and into Middlesex Savings Bank have
been obtained.
Forward Looking Information
This press release contains forward-looking information, including information
concerning Service Bancorp and the expectations regarding the transactions
pursuant to the Agreement and Plan of Merger among Strata Bank, Service
Bancorp, Service MHC and Middlesex Savings Bank, dated as of December 8, 2008,
as amended March 18, 2009 and joined by Middlesex Bancorp, MHC on June 17,
2009 (the "Merger Agreement"). These forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause Service Bancorp's actual
results or performance to be materially different from the results and
performance expressed or implied by the forward-looking statements.
Forward-looking statements include, but are not limited to, statements
concerning Service Bancorp's belief, expectations or intentions regarding the
likelihood that the transactions pursuant to the Merger Agreement will in fact
occur in a timely manner. These statements reflect Service Bancorp's current
views. They are based on numerous assumptions and are subject to numerous
risks and uncertainties relating to the mergers, including the absence of a
material adverse effect on Service Bancorp, satisfaction of all other
conditions to the mergers and timely closing of the mergers by both parties.
SOURCE Service Bancorp, Inc.
Edward A. Hjerpe, III of Strata Bank, +1-888-578-7282
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