Virginia Heritage Bank (Fairfax VA)OTCQB
Oct. 16, 2014, 2:48 PM
- The cash and stock deal for Eagle Bancorp (EGBN +1.9%) to acquire Virginia Heritage Bank (OTCQB:VGBK +1.5%) has also received all regulatory approvals and is expected to close on October 31.
- Previously: Another community bank deal: Eagle purchase Virginia Heritage
Jun. 10, 2014, 8:00 AM
- 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.