Jul. 20, 2015, 9:36 AM
- Flushing's United International Bank has about $179M in assets, $140M in loans, $151M in deposits, and $20M in shareholder's equity.
- The purchase price will be book value plus $1.2M, subject to adjustments as outlined in the sales agreement.
- Preferred (NASDAQ:PFBC) expects the deal to be accretive to 2016 EPS and to have minimal dilution to tangible book value at closing.
Preferred Bank engages as an independent commercial bank. It provides deposit services as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals, and high net worth... More
Industry: Regional - Pacific Banks
Country: United States
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