TowneBank (TOWN) and Village Bank and Trust Financial (VBFC) said Tuesday they have received approval from the Federal Deposit Insurance Corp. and the Virginia State Corporation Commission for their proposed merger.
The deal is expected to close in early April, they said.
The latest approvals were the final regulatory hurdles the companies needed to clear before executing the $120 million transaction, which will pay $80.25 for each Village Bank share in cash.
More than 86% of Village Bank shares voted at a Dec. 19 special meeting also backed the deal, the companies said.
Following the merger, the acquired Village Bank locations will operate as Village Bank, a Division of TowneBank, until mid-June when its core systems and operations will be fully converted into TowneBank, the companies added.
Price: 33.84, Change: +0.05, Percent Change: +0.15
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。