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First Community Corp completes merger with Savannah River Financial Corporation - Form 8-K


Monday, 3 Feb 2014 04:17pm EST 

First Community Corp:Says effective Feb. 1, First Community completed its previously announced merger with Savannah River Financial Corporation (Savannah River), the holding company for Savannah River Banking Company.Says pursuant to the Agreement and Plan of Merger, dated as of Aug. 13, 2013, between First Community, SRMS, Inc., a Georgia corporation and wholly-owned subsidiary of First Community, and Savannah River.Says at closing, SRMS, Inc. merged with and into Savannah River, with Savannah River surviving as a wholly-owned subsidiary of First Community.Says immediately thereafter, Savannah River Banking Company, a South Carolina state bank, also merged with and into First Community Bank, a South Carolina state bank, with First Community Bank surviving the merger and continuing its corporate existence.Says Savannah River merged with and into First Community, with First Community as the surviving corporation.Says under the terms of the Agreement and Plan of Merger, Savannah River shareholders have the right to receive either $11.00 in cash or 1.0618 shares of First Community common stock, or a combination thereof, for each Savannah River share they owned immediately prior to the merger.Says subject to the limitation that 60 pct of the outstanding shares of Savannah River common stock will be exchanged for cash and 40 pct of the outstanding shares of Savannah River common stock will be exchanged for shares of First Community common stock. 

Company Quote

10.8
0.11 +1.03%
4:00pm EDT