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BRIEF-Select Bancorp to acquire Carolina Premier Bank
July 21, 2017 / 1:15 PM / a month ago

BRIEF-Select Bancorp to acquire Carolina Premier Bank

July 21 (Reuters) - Select Bancorp Inc:

* Select Bancorp announces definitive agreement to acquire Carolina Premier Bank

* Select Bancorp Inc - ‍Premara shareholders will receive merger consideration consisting of approximately 70% stock​

* Select bancorp inc - ‍transaction is currently valued at approximately $40 million based on Select's closing price of $11.89 per share on July 20, 2017​

* Says ‍Premara shareholders will receive merger consideration consisting of approximately 70% stock​

* Select Bancorp Inc - transaction has been unanimously approved by boards of directors of each company and is expected to close in Q4 of 2017

* Select Bancorp- deal expected to be immediately accretive to co's EPS excluding merger costs, increasing its stand-alone eps by 10.1% beginning 2018​

* Select Bancorp - deal to include ‍fixed exchange ratio of 1.0463 shares of select stock for each share of Premara, and 30% cash

* Select Bancorp - deal may include $12.65 for each share of premara common stock​ Source text for Eikon: Further company coverage:

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