Banking & Savings M&A » By The Online Investor Staff, updated Fri., Apr. 19, 4:46 AM
Recent mergers and acquisitions in the Banking & Savings M&A category.
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Slide #69. Citizens Business Bank — American Security Bank
Acquirer:
Citizens Business Bank (NASDAQ:CVBF)
Acquiree:
American Security Bank
Details:
CVB Financial Corp. (NASDAQ:CVBF) and America Bancshares, Inc. announced today that they have entered into a definitive Stock Purchase Agreement, pursuant to which American Security Bank, the principal subsidiary of America Bancshares, Inc., will be sold to and merged with Citizens Business Bank (CBB), the principal subsidiary of CVBF. The transaction is valued at $57.0 million for all of the outstanding shares of common stock of ASB and will be paid for by CBB using 100% cash.
CVB Financial is a bank holding company. Through its subsidiary, Citizens Business Bank (the Bank), Co.'s main operations are related to banking activities. This includes the acceptance of deposits and the lending and investing of money through the operations of the Bank. Co. provides a range of bank deposit instruments. These include checking, savings, money market and time certificates of deposit for both business and personal accounts, municipalities and districts, and other deposit products for title and escrow. Co. provides a range of lending products, including commercial, agribusiness, consumer, small business administration loans, real estate loans and equipment and vehicle leasing.
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Avg. Broker Rec.
 
|
Buy (2.57 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: CVBF Stock Forecast Based on Zacks ABR data; powered by Xignite |
