United States

National Commerce Corp to merge with Private Bancshares Inc

Wednesday, 31 Aug 2016 08:00am EDT 

National Commerce Corp : Private Bancshares Inc enters into definitive agreement to join National Commerce Corporation . National Commerce Corp says definitive agreement providing for merger of private bancshares with and into NCC . Boards of directors of NCC, NBC, Private Bancshares and PBB have unanimously approved transaction . Each share of stock of private bancshares will be converted into right to receive either 0.85417 shares of NCC common stock or cash of $20.50 .Total amount of cash payable in merger will in no event exceed $8.3 million.