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BRIEF-Heartland Financial USA Inc and Citywide Banks announce merger agreement
February 13, 2017 / 11:50 PM / 9 months ago

BRIEF-Heartland Financial USA Inc and Citywide Banks announce merger agreement

Feb 13 (Reuters) - Heartland Financial Usa Inc

* Heartland Financial USA Inc and Citywide Banks announce merger agreement

* Heartland Financial USA Inc - deal for $203 million

* Heartland Financial USA Inc - deal for $207.98 per Citywide common share

* Heartland Financial USA Inc says resulting institution will operate under Citywide Banks brand name

* Heartland Financial USA Inc says Heartland expects transaction to be accretive to its earnings per share within first full year of combined operations

* Heartland Financial USA Inc - additionally, citywide’s preferred stock of approximately $5 million will be redeemed for cash before closing

* Heartland Financial USA - with closing of deal, Citywide Banks will merge with Heartland’s colorado-based subsidiary, Centennial Bank And Trust

* Heartland Financial - Citywide shareholders will receive 3.300 shares of heartland common stock, $57.00 in cash for each share of Citywide common stock

* Heartland Financial USA Inc - definitive merger agreement has been unanimously approved by boards of directors of both companies

* Heartland Financial - deal expected to qualify as a tax-free exchange with respect to stock consideration received by common shareholders of Citywide

* Heartland Financial USA - Marty Schmitz, chairman of Citywide banks will continue as board member of combined entity and will join Heartland’s board Source text for Eikon: Further company coverage:

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