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BRIEF-Investar Holding Corp announces agreement to acquire Citizens Bancshares
March 8, 2017 / 10:32 PM / 7 months ago

BRIEF-Investar Holding Corp announces agreement to acquire Citizens Bancshares

March 8 (Reuters) - Citizens Bancshares Inc

* Investar Holding Corp announces agreement to acquire Citizens Bancshares

* Says deal for $45.8 million

* Says respective boards of each of citizens and investar unanimously approved transactions

* Says estimates annual pre-tax expense reductions associated with deal will exceed 30 pct of Citizen Bank’s annual non-interest expenses

* Says transaction is expected to be over 20 pct accretive to 2018 EPS, first full year of combined operations

* Says expense savings with the deal are estimated to be fully achieved beginning in 2018 Further company coverage:

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