Banking & Savings M&A » By The Online Investor Staff, updated Fri., Apr. 19, 2:11 PM
Recent mergers and acquisitions in the Banking & Savings M&A category.
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Slide #13. First Financial Bancorp — Guernsey Bancorp, Inc.
Acquirer:
First Financial Bancorp (NASDAQ:FFBC)
Acquiree:
Guernsey Bancorp, Inc.
Details:
First Financial Bancorp (Nasdaq: FFBC) (the "Company"), the parent company of First Financial Bank (collectively with the Company, "First Financial"), and Guernsey Bancorp, Inc. ("Guernsey") announced today the signing of a definitive merger agreement. Under the terms of the merger agreement, First Financial will acquire Guernsey for cash consideration of $13.5 million and the transfer of a single bank-owned property with a book value of $1.0 million to Guernsey's sole shareholder.
First Financial Bancorp is a bank holding company. Through its subsidiary, First Financial Bank, Co. engages in the business of commercial banking and other banking and banking-related activities. The range of banking services provided by Co. to individuals and businesses includes commercial lending, real estate lending and consumer financing. In addition, Co. provides deposit products that include interest-bearing and noninterest-bearing accounts, time deposits and cash management services for commercial customers. A range of trust and wealth management services is also provided through Co.'s Wealth Management line of business. Co. also provides lease and equipment financing.
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Avg. Broker Rec.
 
|
Hold (2.33 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: FFBC Stock Forecast Based on Zacks ABR data; powered by Xignite |
