Edition:
United Kingdom

Colony Bankcorp Signs Definitive Agreement To Acquire Lagrange, Georgia-Based LBC Bancshares Inc


Tuesday, 18 Dec 2018 

Dec 18 (Reuters) - Colony Bankcorp Inc ::COLONY BANKCORP SIGNS DEFINITIVE AGREEMENT TO ACQUIRE LAGRANGE, GEORGIA-BASED LBC BANCSHARES, INC..COLONY BANKCORP INC - STOCK-AND-CASH TRANSACTION VALUED AT APPROXIMATELY $34.1 MILLION..COLONY BANKCORP INC - DEAL IS EXPECTED TO BE IMMEDIATELY ACCRETIVE TO COLONY'S FULLY DILUTED EARNINGS PER SHARE, EXCLUDING TRANSACTION COSTS.COLONY BANKCORP INC - UPON COMPLETION , COLONY IS EXPECTED TO HAVE APPROXIMATELY $1.4 BILLION IN ASSETS, $930 MILLION IN LOANS, AND $1.2 BILLION IN DEPOSITS.COLONY BANKCORP INC - LBC SHAREHOLDER WILL HAVE OPTION TO RECEIVE EITHER $23.50 IN CASH OR 1.3239 SHARES OF COLONY'S COMMON STOCK.COLONY BANKCORP INC - AGREEMENT AND PLAN OF MERGER HAS BEEN APPROVED BY BOARDS OF DIRECTORS OF COLONY AND LBC.. 

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