United States

Suncrest Bank and CBBC Bancorp agree to merge

Tuesday, 7 Nov 2017 09:00am EST 

Nov 7 (Reuters) - Suncrest Bank ::Suncrest Bank and CBBC Bancorp agree to merge.CBBC shareholders will have right to receive $23.75 in cash, or a fixed exchange ratio of 2.262 shares of Suncrest common stock​.Deal ‍immediately accretive to Suncrest Bank's earnings per share by over 40 percent​.Suncrest also announced today a fully subscribed $25 million capital raise of Suncrest common stock at $10.50 per share​.Transaction valued at about $62.5 million. 

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