First Merchants Corporation(FRME)- NASDAQ
  • May 13, 2013, 9:33 AM

    More community bank consolidation: CFS Bancorp (CITZ) agrees to a buyout from First Merchants (FRME) in an all-stock deal worth $10.49/share, based on Friday's close (13.7% premium). First Merchants expects the deal to be accretive in 2014 with identified operating efficiencies of about 30% resulting in "tangible book value earnback of less than 3 years." Also of interest for those playing the trend: I, II.

    | May 13, 2013, 9:33 AM
Company Description
First Merchants Corp. is a financial holding company. The company provides consumer, mortgage and business banking, and cash & wealth management services to its customers through its subsidiaries First Merchants Bank NA, Lafayette Bank & Trust NA, First Merchants Bank of Central Indiana NA,... More
Sector: Financial
Industry: Regional - Midwest Banks
Country: United States