The Bank Recovery Room

[56Chevy]

VCBC has an interesting situation happening. I'm using a tablet to post this so no cut n' paste with links ...sorry...so you'll have to go to the board to get the story.

In a nutshell Valley Community Bank entered into a agreement to merge with a larger bank but the offer was less than exciting considering the offer was just over $3 @ share on a bank with a book value over $5. It turns out the banks' largest shareholder doesn't like the deal either and has offered shareholders $4.12 @ share.

Shareholders will get a chance to vote in a Fairness Hearing coming up on October 23rd. Yesterdays closing price was $2.60. Now that the cat is out of the bag that there is at least one offer out there considerably higher it will blow the doors off that $3 offer.