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Bucks County Bank Announces Merger with and into First Bank
Hovde's client, Doylestown, PA-based Bucks County Bank (OTC Pink: BKCS) has announced a merger with and into Hamilton, NJ-based First Bank (NASDAQ: FRBA) in a deal valued at $27.2 million.
Highlights of the deal include:
- 100% stock transaction
- FRBA will add four branches and approximately $198 million in assets, expanding its footprint into Bucks County, Pennsylvania
- This marks FRBA's first M&A transaction since acquiring Heritage Community Bank in 2013
- The deal is subject to shareholder and regulatory approval and is expected to close in Q3 of 2017
- This transaction marks Hovde's 45th announced bank M&A transaction over the past two years
Hovde Group, LLC served as financial advisor to Bucks County Bank.
Please click on the link above to download the full Transaction Alert for more information.