Reuters logo
2 months ago
BRIEF-Entegra Financial announces acquisition of Chattahoochee bank of Georgia
June 27, 2017 / 12:48 PM / 2 months ago

BRIEF-Entegra Financial announces acquisition of Chattahoochee bank of Georgia

June 27 (Reuters) - Entegra Financial Corp:

* Entegra financial corp. Announces acquisition of chattahoochee bank of georgia

* Deal for a combination of cash and stock valued at about $34.9 million

* Entegra will purchase chattahoochee for $14.75 per share

* Transaction has been unanimously approved by board of directors of both companies

* Deal through a combination of cash and stock valued at approximately $34.9 million

* Excluding estimated transaction expenses, acquisition is expected to be more than 15% accretive to 2018 earnings

* Upon completion of transaction, Entegra will have about $1.6 billion in assets, $950 million in loans, and $1.2 billion in deposits Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below