Banks

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ViewPoint Financial Group and LegacyTexas Group, Inc. announce amendment of merger agreement

Friday, 29 Aug 2014 08:15am EDT

ViewPoint Financial Group and LegacyTexas Group Inc:Says additional time will be required to obtain regulatory approvals and to satisfy customary closing conditions necessary to complete the merger.Amends merger agreement to extend the agreement to Dec. 31.Amended merger agreement provides the closing date of the merger shall take place within 5 days after receipt of all regulatory approvals, as well as allows LegacyTexas to make up to two additional distributions to its shareholders prior to the effective date of the merger.

Mid Penn Bancorp Inc and Phoenix Bancorp Inc announce agreement to merge

Wednesday, 27 Aug 2014 04:07pm EDT

Mid Penn Bancorp Inc:Announced the signing of a definitive merger agreement which calls for Mid Penn to acquire Phoenix in a transaction valued at about $14.5 million.Under the terms of the agreement, shareholders of Phoenix common stock will elect to receive either 3.167 shares of Mid Penn common stock, or $51.60 in cash, subject to an aggregate proration of 80 pct stock and 20 pct cash.As of the close of business on Aug. 26, the per share acquisition price equaled about $50.86, or about 110 percent of Phoenix's fully diluted tangible book value per share at June 30, 2014.Phoenix shareholders are anticipated to own about 17 pct of the combined company.

BNP Paribas SA offers to buy Poland's Bank Gospodarki Zywnosciowej SA at 80.47 zlotys, plans to merge it with BNP Paribas Bank Polska SA-Reuters

Monday, 25 Aug 2014 12:48pm EDT

BNP Paribas SA:France's BNP Paribas has offered to buy the shares of its Polish rival Bank Gospodarki Zywnosciowej SA (BGZ) at 80.47 Polish zlotys each as part of its acquisition of BGZ from Dutch Rabobank, a brokerage running the deal said-Reuters.The offer values Poland's No.11 lender by assets at almost 4.52 billion zlotys ($1.43 billion), 16 percent above Aug. 25 closing price, and more than the 4.2 billion purchase tag BNP agreed with Rabobank last year.The European Commission has already approved the merger, but BNP is awaiting a green light from the Polish watchdog KNF.Citigroup's C.N Polish unit, which is coordinating BNP's offer, said BGZ owners will be able to sell their shares between Sept. 12 and Oct. 17.BNP wants to buy 100 percent in BGZ and plans to merge it with its small-tier Polish unit, BNP Paribas Bank Polska SA.

China Development Financial Holding Corp announces KGI Asia (Holdings)Pte.Ltd. to fully acquire AmFraser Securities Pte. Ltd.

Monday, 25 Aug 2014 08:50am EDT

China Development Financial Holding Corp:Announces KGI Asia (Holdings)Pte.Ltd. to fully acquire AmFraser Securities Pte. Ltd.No further details disclosed.

American National Bankshares Inc and MainStreet BankShares Inc announces agreement to merge

Monday, 25 Aug 2014 08:30am EDT

American National Bankshares Inc and MainStreet BankShares Inc:Signs agreement which calls for MainStreet to merge with American National in transaction valued at about $24.2 mln.Says shareholders of MainStreet common stock will receive 0.482 shares of American National common stock and $3.46 in cash for each share of MainStreet they own.Says as of close of business on Aug. 22, the per share acquisition price equaled about $14.05, or about 97 pct of MainStreet's June 30, book value per share.Says per share acquisition price will fluctuate with the value of American National common stock.MainStreet shareholders will own about 10 pct of combined company.Says Following completion of the merger, American National will remain well-capitalized and the company expects the transaction will be accretive to earnings per share.Keefe, Bruyette & Woods, Inc., acted as financial advisor to American National and LeClairRyan, A Professional Corporation, acted as its legal advisor in the transaction.Says BB&T Capital Markets acted as financial advisor to MainStreet and CowanPerry PC acted as legal advisor.

Stonegate Bank to acquire Community Bank of Broward

Monday, 25 Aug 2014 08:00am EDT

Stonegate Bank:Signs a definitive agreement by which Stonegate will acquire all the operations of Community Bank of Broward.Bank's management expects the combination will increase total assets to about $2.1 bln and will rank Stonegate Bank as the 10th largest bank headquartered in Florida.The transaction is valued at about $61.2 mln.Sandler O'Neill+ Partners served as financial adviser to Stonegate Bank.Gunster, Yoakley & Stewart, P.A.served as legal counsel to Stonegate Bank.Hovde Group, LLC served as financial adviser to Community Bank of Broward and rendered a fairness opinion in connection with the transaction. Smith Mackinnon, P.A. served as legal counsel to Community Bank of Broward.

Peoples Bancorp Inc completes acquisition of Ohio Heritage Bancorp Inc

Friday, 22 Aug 2014 04:37pm EDT

Peoples Bancorp Inc:Completed its acquisition of Ohio Heritage Bancorp Inc and its wholly-owned subsidiary, Ohio Heritage Bank, effective as of the close of business on Aug. 22, in a cash and stock transaction with a total value of about $37.6 million, or $110 per share.Completed acquisition included the merger of Ohio Heritage Bank into Peoples Bank.Under the terms of the merger agreement, Ohio Heritage Bancorp's shareholders received 85 pct of the total consideration in the company's common stock and the remainder in cash.

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