14.12.2022 14:27:14
|
First Bank To Buy Malvern Bancorp, Malvern Bank For Around $149.5 Mln
(RTTNews) - First Bank (FRBA) said on Wednesday that it has inked a deal to acquire Malvern Bancorp, Inc. (MLVF) and Malvern Bank, for around $149.5 million.
The consideration is based upon First Bank's closing price of $15.31 per share on December 13.
Malvern Bancorp is the parent company of Malvern Bank. According to the deal, Malvern Bancorp shareholders will receive 0.7733 shares of First Bank, and $7.80 in cash per each Malvern Bancorp share outstanding.
First Bank expects to issue approximately 5.9 million new shares of First Bank, and $59.4 million in cash consideration to consummate this transaction.
Following the completion of the transaction, expected in the second quarter of 2023, First Bank will have around $3.68 billion in assets with 27 branches.
Patrick L. Ryan, CEO of First Bank, said: "This strategic transaction expands our market position and deposit share in eastern Pennsylvania, while complementing our strong organic growth strategy."
Malvern Bancorp, Inc. had assets of approximately $1.04 billion, loans of around $815.6 million, and deposits of approximately $785.3 million as of September 30.
![](https://images.finanzen.at/images/unsortiert/wertpapierdepot-absichern-aktienchart-boerse-750493204-260.jpg)
Wenn Sie mehr über das Thema Aktien erfahren wollen, finden Sie in unserem Ratgeber viele interessante Artikel dazu!
Jetzt informieren!
Nachrichten zu First Bank Williamstown New Jerseymehr Nachrichten
22.01.25 |
Ausblick: First Bank Williamstown New Jersey stellt Quartalsergebnis zum abgelaufenen Jahresviertel vor (finanzen.net) | |
08.01.25 |
Erste Schätzungen: First Bank Williamstown New Jersey mit Zahlen zum abgelaufenen Quartal (finanzen.net) | |
22.10.24 |
Ausblick: First Bank Williamstown New Jersey verkündet Quartalsergebnis zum jüngsten Jahresviertel (finanzen.net) | |
08.10.24 |
Erste Schätzungen: First Bank Williamstown New Jersey stellt das Zahlenwerk zum vergangenen Quartal vor (finanzen.net) |
Analysen zu First Bank Williamstown New Jerseymehr Analysen
Aktien in diesem Artikel
First Bank Williamstown New Jersey | 15,20 | -0,13% |
|