January 18, 2018 / 2:39 PM / 8 months ago

BRIEF-CNB Bank Shares And Jacksonville Bancorp Announce Agreement To Merge

Jan 18 (Reuters) - Jacksonville Bancorp Inc:

* CNB BANK SHARES, INC. AND JACKSONVILLE BANCORP, INC. ANNOUNCE AGREEMENT TO MERGE

* JACKSONVILLE BANCORP INC - SHAREHOLDERS OF JACKSONVILLE BANCORP WILL RECEIVE $33.70 IN CASH FOR EACH SHARE OF JACKSONVILLE BANCORP COMMON STOCK

* JACKSONVILLE BANCORP INC - ‍TRANSACTION HAS AN AGGREGATE DEAL VALUE OF APPROXIMATELY $61.6 MILLION​

* JACKSONVILLE BANCORP INC - DIRECTORS OF CNB SHARES AND JACKSONVILLE BANCORP HAVE UNANIMOUSLY APPROVED MERGER AGREEMENT

* JACKSONVILLE - ‍CASTLE CREEK CAPITAL PARTNERS VI WILL BE MAKING AN INVESTMENT OF $30.0 MILLION INTO CNB SHARES WITH PROCEEDS BEING USED BOTH TO FUND MERGER​

* JACKSONVILLE BANCORP INC - ‍THE COMBINED BANK WILL CONTINUE TO OPERATE ALL BRANCHES AFTER CLOSING​

* JACKSONVILLE BANCORP - FOLLOWING MERGER, JACKSONVILLE SAVINGS BANK, WHOLLY-OWNED UNIT OF CO, WILL MERGE WITH & INTO CNB BANK & TRUST

* JACKSONVILLE BANCORP INC - UPON CLOSING OF INVESTMENT DEAL, CASTLE CREEK WILL HAVE 1 REPRESENTATIVE APPOINTED TO CNB SHARES’ BOARD Source text for Eikon: Further company coverage:

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