February 8, 2017 / 10:36 PM / 8 months ago

BRIEF-FB Financial Corporation to acquire Clayton Bank and American City Bank

Feb 8 (Reuters) - FB Financial Corp :

* FB Financial Corporation to acquire Clayton Bank and American City Bank, the wholly-owned bank subsidiaries of Clayton Hc Inc.

* FB Financial Corp - transaction valued at approximately $284.2 million

* FB Financial Corp - EPS accretion expected in 2017 and 2018 from deal

* FB Financial Corp - transaction is expected to be immediately accretive to FB Financial Corporation’s earnings per share, exclusive of transaction costs and expenses.

* FB Financial Corp - during first full year of combined operations, FB financial estimates low-teens percentage earnings per share accretion

* FB Financial - transaction structured as stock purchase where Firstbank will acquire all shares of Clayton Bank and American City Bank from Clayton HC

* FB Financial Corp - estimates approximately 6.0pct tangible book value dilution at closing of deal, which is expected to be earned back in about 1.5 years Source text for Eikon: Further company coverage:

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