Another community bank deal: Eagle purchase Virginia Heritage

|About: Virginia Heritage Bank (... (VGBK)|By:, SA News Editor

It's a stock and cash deal with Virginia Heritage Bank (VGBK) owners receiving in the area of $29 in aggregate consideration for each share of VGBK they own (vs. recent price of $21.66). The exchange ratio could be adjusted depending on what happens with Eagle Bancorp (EGBN) stock.

Eagle expects the deal to be accretive to earnings within a year after the merger, and modestly dilutive to book value.