News Breaks |
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| April 5, 2011 |
| 07:16 EDT |  | BCBP | BCB Bancorp, Allegiance Community Bank to merge
BCB Bancorp and Allegiance Community Bank announced the signing of a definitive merger agreement. Under the terms of the agreement ACB will merge with and into BCBP’s subsidiary BCB Community Bank. ACB stockholders will receive 0.35 shares of BCBP for each share of ACB. The Board of Directors of BCBP and its subsidiary BCB Community Bank will be expanded by two seats for representation from ACB. Members of the ACB management team are expected to join BCBP. The merger will add approximately $120M in assets to BCBP’s $1.1B asset base and will add two branch locations to BCBP’s branch network. Management expects the merger to be accretive to BCBP’s 2012 earnings per share. |
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