Works out to be a 40% gain or 17.26% annaulized return. Not the best we have ever had but its a decent return.It is the second deal of the year across all portfolio and its Jnauary and there is still more than a week to go
CARLINVILLE, Ill. and JACKSONVILLE, Ill., Jan. 18, 2018 (GLOBE NEWSWIRE) -- CNB Bank Shares, Inc. (“CNB Shares”) and Jacksonville Bancorp, Inc. (“Jacksonville Bancorp”) (JXSB) jointly announced that they have entered into a definitive merger agreement whereby Jacksonville Bancorp will merge with and into CNB Shares. Following the merger, Jacksonville Savings Bank, the wholly-owned subsidiary of Jacksonville Bancorp, will merge with and into CNB Bank & Trust (“CNB B&T”), the wholly-owned subsidiary of CNB Shares.
Under the terms of the merger agreement, shareholders of Jacksonville Bancorp will receive $33.70 in cash for each share of Jacksonville Bancorp common stock. The transaction has an aggregate deal value of approximately $61.6 million.
The transaction combines two strong local community banks that share a common culture and core values. CNB B&T is headquartered in Carlinville, Illinois, with approximately $924 million in total assets at September 30, 2017 and operates thirteen full-service branches located throughout Illinois and in the St. Louis, Missouri MSA. Jacksonville Savings Bank is headquartered in Jacksonville, Illinois, operating four full-service branches and two limited service branches located throughout central Illinois, with approximately $337 million in total assets at September 30, 2017. With approximately $1.25 billion in pro forma assets, the combined bank will continue to operate all branches after closing.
Jacksonville Bancorp board chairman, Andy Applebee, said, “Our two banks are very complementary. We are confident CNB will continue our community bank traditions while capitalizing on the benefits that come with being a larger bank.” Said Rich Foss, President and CEO ...