Posted in Mergers & Acquisitions.
has merged with
Closed September 12, 2016
Richard F. Maroney, Jr. served as lead advisor.
County Bank Corp, parent company of Lapeer County Bank & Trust Company, headquartered in Lapeer, Michigan, and Capac Bancorp, Inc., parent company of CSB Bank, headquartered in Capac, Michigan, announce the consummation of the merger of the two companies.
Both companies have been serving their local communities for more than 100 years. County Bank Corp, with more than $325 million in total assets, has banking offices in Lapeer, Metamora, Attica, Fostoria, and Imlay City. Capac Bancorp, Inc., with more than $245 million in total assets, operates branches in Capac, Imlay City, Almont, Emmet, Memphis, Armada, and Yale.
In consideration of the merger, County Bank Corp issued 0.90 shares of its common stock in exchange for each of the 741,900 shares outstanding of Capac Bancorp, Inc. Based on the most recent market price of County Bank Corp of $31 per share, the transaction is valued at approximately $20.7 million.
Richard F. Maroney, Jr., Managing Director and Principal of Austin Associates’ Investment Banking practice area, served as the lead advisor to Capac.Read Press Release See All Transactions