TowneBank to Acquire Village Bank for $120 Million in an All-Cash Deal

TowneBank (TOWN) entered into a merger agreement on September 24, 2024, to acquire Village Bank and Trust Financial Corp. (VBFC) for $120 million in cash.

Terms of the Agreement:

As per the merger agreement, shareholders of Village Bank will receive $80.25 per share in cash from TowneBank, representing a premium of 48.61% from the stock’s last close.

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