Cortland Bancorp

NASDAQ:CLDB   3:42:07 PM EDT
26.90
+0.13 (+0.49%)
Debt Financing / Related, Equity Investments, Mergers / Acquisitions

Farmers National Banc Corp And Cortland Bancorp Announce Farmers To Acquire Cortland Bancorp

Published: 06/23/2021 12:35 GMT
Cortland Bancorp (CLDB) - Farmers National Banc Corp.
and Cortland Bancorp Announce Farmers to Acquire Cortland Bancorp.
Cortland Bancorp - Each Shareholder of Cortland May Elect to Receive Either $28.00 per Share in Cash Or 1.75 Shares of Farmers' Common Stock.
Cortland Bancorp - Deal Value Subject to Overall Limitation of 75% of Shares Being Exchanged for Farmers Shares and 25% for Cash.
Cortland Bancorp - Deal for About $124.0 Million Or $29.14 per Share.
Cortland Bancorp - Merger Expected to Qualify As Tax-free Reorganization for Shareholders Electing to Receive Farmers' Shares.
Cortland Bancorp - Upon Closing, Farmers Estimates It Will Have About $4.1 Billion in Assets.