Heartland BancCorp to Acquire Northern Kentucky/Cincinnati-Focused Victory Community Bank
Heartland Banccorp (HLAN)
NASDAQ:AMEX Investor Relations:
ir.heartland.bank
Company Research
Source: GlobeNewswire
WHITEHALL, Ohio, Dec. 02, 2019 (GLOBE NEWSWIRE) -- Heartland BancCorp (“Heartland”) (OTCQX: HLAN), the holding company for Heartland Bank, an Ohio state member bank, and Victory Bancorp, Inc. (“Victory”), the holding company for Victory Community Bank, a federal savings association with its main office in Ft. Mitchell, Kentucky, today announced the entry into a definitive agreement whereby Victory Community Bank will merge into Heartland Bank, with Heartland Bank surviving (the “merger”). Under the terms of the merger agreement, Victory (as the sole shareholder of Victory Community Bank) will receive 58,934 shares of Heartland common stock and $35.5 million in cash, subject to adjustment as set forth in the merger agreement, for all shares of Victory Community Bank common stock that Victory owns, resulting in an aggregate transaction value of approximately $41.1 million based on the closing price of Heartland common stock on November 29, 2019. The merger has been unanimously appro
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