May 13, 2013, 9:33 AMMore 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. | Comment!
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