Premiere Service Bank (fka PSBK)

[56Chevy]

Under the terms of the merger agreement, Premier shareholders will receive per share consideration of $6.85, or $8.6 million in aggregate. Premier shareholders will have the option of exchanging each share for either cash or Independence Bank common stock, subject to an overall consideration mix of 55% cash and 45% Independence common stock. Independence Bank plans to list its stock on the Over-the-Counter Bulletin Board after closing of the transaction.

Thanx for the posting EI! This is an amazing offer. Fantastic! I admit I'm a little shocked they're paying a 25% premium over BV..especially considering PSBK still owes TARP.

There are times when these bank deals feel as if they'll never come to fruition. There were moments in the beginning of 2013 when PSBK sold for $1..it even dipped below a dollar for a few days last March... and here we are 8 months later with an offer on the table for $6.85!

If this doesn't get your motor running to seek value and snatch it up...nothing will!