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BRIEF-Suncrest Bank and CBBC Bancorp agree to merge
November 7, 2017 / 2:13 PM / 11 days ago

BRIEF-Suncrest Bank and CBBC Bancorp agree to merge

Nov 7 (Reuters) - Suncrest Bank:

* Suncrest Bank and CBBC Bancorp agree to merge

* CBBC shareholders will have right to receive $23.75 in cash, or a fixed exchange ratio of 2.262 shares of Suncrest common stock​

* Deal ‍immediately accretive to Suncrest Bank’s earnings per share by over 40 percent​

* Suncrest also announced today a fully subscribed $25 million capital raise of Suncrest common stock at $10.50 per share​

* Transaction valued at about $62.5 million Source text for Eikon: Further company coverage:

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