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Stock impact report

Citizens Holding Company Announces Acquisition of Charter Bank

CITZNS HOLDINGS CO MISS (CIZN) 
US:NASDAQ Investor Relations: investor.citizensholdingcompany.com
Company Research Source: Business Wire
PHILADELPHIA, Miss. & BILOXI, Miss.--(BUSINESS WIRE)-- Citizens Holding Company (“Citizens”) (Nasdaq: CIZN), the parent company of The Citizens Bank of Philadelphia (“Citizens Bank”) announced today the signing of a definitive merger agreement to acquire Charter Bank, (“Charter”). Upon completion of the merger, Charter will merge into Citizens Bank. Based upon financial data as of March 31, 2019, the combined company will have approximately $1.2 billion in assets, deposits of $989 million, and gross loans of $569 million. The merger is expected to close in the fourth quarter of 2019, pending customary closing conditions, including receipt of required regulatory approvals and the approval by the shareholders of Charter. Subject to the terms of the merger agreement, Charter shareholders will receive 0.39417 shares of Citizens’ common stock and $3.615 in cash for each outstanding share of Charter co Show less Read more
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