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NBT Bancorp Inc Closes Merger With Alliance Financial Corp


Friday, 8 Mar 2013 05:00pm EST 

NBT Bancorp Inc announced the closing of its previously announced merger with Alliance Financial Corp (Alliance). Under the terms of the agreement, Alliance merged with and into NBT, with NBT being the surviving corporation of the merger. Additionally, Alliance Bank, N.A., a wholly-owned subsidiary of Alliance, merged with and into NBT Bank, N.A., a wholly-owned subsidiary of NBT, with NBT Bank continuing as the surviving entity. Under the terms of the merger agreement, each outstanding share of Alliance common stock was converted into the right to receive 2.1779 shares of NBT common stock. In connection with the merger, NBT will issue approximately 10,346,911 million shares of its common stock in exchange for all of the outstanding shares of Alliance common stock. 

Company Quote

23.61
0.05 +0.21%
4:00pm EDT