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Announced

Completed

1st Constitution Bancorp completed a $53m acquisition of Shore Community Bank.

Financials

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Transaction Value£41m
Consideration TypeCash, Ordinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Merger

Friendly

Majority

United States

Single Bidder

commercial banking

Acquisition

Banks

Public

Completed

Synopsis

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1st Constitution Bancorp, a financial services holding company, completed a $53m acquisition of Shore, a commercial bank that serves small and medium-sized businesses and individuals. “We are pleased to be combining with Shore Community Bank and expanding our presence into several new markets in Ocean County. Northern and Central Ocean County represent attractive markets with desirable demographic characteristics and growth opportunities,” Robert F. Mangano, 1ST Constitution Bancorp’s President and Chief Executive Officer.

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