May 23, 2018 / 11:22 AM / 3 months ago

BRIEF-Timberland Bancorp To Acquire South Sound Bank

May 23 (Reuters) - Timberland Bancorp Inc:

* TIMBERLAND BANCORP, INC. AND SOUTH SOUND BANK SIGN DEFINITIVE MERGER AGREEMENT FOR ACQUISITION OF SOUTH SOUND BANK

* TIMBERLAND BANCORP INC - SOUTH SOUND BANK SHAREHOLDERS WILL RECEIVE 904,918 SHARES OF TIMBERLAND COMMON STOCK AND $6.9 MILLION IN CASH

* TIMBERLAND BANCORP INC - PROPOSED TRANSACTION IS EXPECTED TO BE ACCRETIVE TO TIMBERLAND’S EARNINGS WITHIN FIRST YEAR FOLLOWING CLOSE

* TIMBERLAND BANCORP INC - PROPOSED TRANSACTION WILL BE IMMEDIATELY ACCRETIVE TO TANGIBLE BOOK VALUE PER SHARE AT CLOSE

* TIMBERLAND BANCORP - ANNOUNCED AGREEMENT AND PLAN OF MERGER PURSUANT TO WHICH SOUTH SOUND BANK WILL MERGE WITH & INTO CO’S SUBSIDIARY, TIMBERLAND BANK Source text for Eikon: Further company coverage:

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