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New Deal


Announced

InBank to merge with Legacy Bank in a $56m deal.

Financials

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Transaction Value£42m
Consideration TypeCash, Ordinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Domestic

Acquisition

Private

Merger

Banks

banking company

Single Bidder

United States

Majority

Pending

Friendly

Synopsis

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InBank, a provider of banking services, agreed to merge with Legacy Bank, a firm providing financial products and services, in a $56m deal. "The combination will further leverage our significant investment in people, commercial treasury products, and technology while helping position InBank to be the premier locally-owned commercial bank. Legacy is great fit for us geographically, strategically, financially, and culturally. Both banks share the same values, culture, and commitment to our customers, communities, and associates, which should allow for a smooth integration," Ed Francis, InBankshares Chairman of the Board, President and CEO.

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