Business News • MarketWire • FNB Bancorp to Acquire America California Bank |
FNB Bancorp to Acquire America California Bank |
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FNB Bancorp to Acquire America California Bank
SOUTH SAN FRANCISCO, CA--(Marketwired - May 14, 2015) - FNB Bancorp (OTCQB: FNBG), parent company of First National Bank of Northern California, and America California Bank (OTC PINK: ACAL), today jointly announced their signing of an Agreement and Plan of Reorganization and Merger whereby FNB Bancorp will acquire America California Bank ("ACB") in an all-cash transaction. Under the terms of the agreement, the holders of ACB common stock and preferred stock will receive cash in the amount of $10.60 per share, or approximately $21,510,000. The transaction has been unanimously approved by the FNB Bancorp Board of Directors and the ACB Board of Directors and is expected to close during the third quarter of 2015, subject to the receipt of all required regulatory approvals and the satisfaction of other customary closing conditions, including the approval of ACB shareholders.
View More : http://www.marketwired.com/mw/release.do?id=2020224&sourceType=3
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