- Provident Financial (NYSE:PFS) agrees to acquire SB One Bancorp (NASDAQ:SBBX) for ~$208.9M.
- Provident will exchange 1.357 PFS shares for each share of SB One, valuing each SB One share at $22.09 based on Provident's closing stock price on March 11.
- The combined bank will have ~$12B in assets and will rank as the third-largest bank headquartered in New Jersey.
- Expected to close in Q3 2020.