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Announced

Completed

CNB Financial completed the acquisition of Bank of Akron for $64m.

Financials

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Transaction Value£48m
Consideration TypeOrdinary Shares, Cash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

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Banks

Completed

Public

Single Bidder

Merger

United States

bank holding company

Acquisition

Friendly

Majority

Synopsis

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CNB Financial, the parent company of CNB Bank, completed the acquisition of Bank of Akron, a provider of banking and financial services, for $64m. "We are excited to have completed this transaction on schedule and to partner with such a high performing bank. We welcome our new team members from the Bank of Akron and we look forward to working side by side with them, in continuing to build a successful franchise with the BankOnBuffalo division," Joseph B. Bower, Jr., CNB Financial President and CEO.

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