December 12, 2017 / 12:45 AM / 2 years ago

BRIEF-Trico Bancshares Enters San Francisco Bay Area With Acquisition Of FNB Bancorp

Dec 11 (Reuters) - Trico Bancshares:

* ENTERS SAN FRANCISCO BAY AREA WITH ACQUISITION OF FNB BANCORP

* ‍WILL ACQUIRE FNB, PARENT CO OF FIRST NATIONAL BANK OF NORTHERN CALIFORNIA IN STOCK TRANSACTION VALUED AT ABOUT $315.3 MILLION IN AGGREGATE​

* -BASED ON FINANCIAL INFORMATION AS OF SEPT 30, 2017, COMBINED COMPANY WILL HAVE ABOUT $6.1 BILLION IN ASSETS, $5.0 BILLION IN DEPOSITS​

* COMBINED COMPANY WILL HAVE $3.7 BILLION IN GROSS LOANS, AND 78 BRANCHES THROUGHOUT CALIFORNIA​

* TRICO- ‍UNDER THE AGREEMENT, FNB SHAREHOLDERS WILL RECEIVE 0.980 SHARES OF TRICO COMMON STOCK IN EXCHANGE FOR EACH SHARE OF FNB COMMON STOCK THEY HOLD​

* ‍MERGER AGREEMENT PROVIDES FOR TWO DIRECTORS OF FNB TO JOIN TRICO’S BOARD OF DIRECTORS​

* EXPECTS TRANSACTION TO BE 2% ACCRETIVE TO ITS EARNINGS IN 2018, EXCLUDING TRANSACTION COSTS, AND 8% ACCRETIVE TO EARNINGS IN 2019​ Source text for Eikon: Further company coverage:

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