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Stock Market & Financial Investment News

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June 24, 2014
08:02 EDTSTBZ, GECRState Bank Financial, Georgia-Carolina Bancshares announce merger
State Bank Financial (STBZ), the holding company for State Bank and Trust, and Georgia-Carolina Bancshares (GECR) jointly announced the signing of a definitive agreement for State Bank Financial to acquire Georgia-Carolina Bancshares and its wholly-owned subsidiary, First Bank of Georgia, in a cash and stock transaction with a purchase price of approximately $82M, or $22.35 per share. The transaction value at the time of the merger may change due to fluctuations in the price of State Bank Financial common stock. The agreement has been unanimously approved by the boards of both companies and is anticipated to close in 1Q15. Completion of the transaction is subject to certain closing conditions, including customary regulatory approvals and the approval by the shareholders of Georgia-Carolina Bancshares.
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