Peoples Financial To Merge With FNCB Bancorp, Creates Bank With Assets Worth $5.5B & More
Portfolio Pulse from Lekha Gupta
Peoples Financial Services Corp (PFIS) and FNCB Bancorp Inc (FNCB) have agreed to merge in an all-stock deal valued at approximately $129.0 million. The merger will create a bank holding company with nearly $5.5 billion in assets and a combined market capitalization of about $444 million. The combined bank will operate under the name 'Peoples Financial Services Corp.' and trade under the ticker 'PFIS'. The transaction is expected to close in Q1 2024.
September 28, 2023 | 11:58 am
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POSITIVE IMPACT
FNCB Bancorp Inc (FNCB) is merging with Peoples Financial Services Corp (PFIS) in a deal valued at $129.0 million. The merger is expected to be 40%+ accretive to FNCB's EPS and FNCB shareholders will receive 0.1460 PFIS common stock for each share of FNCB they own.
The merger is expected to be beneficial for FNCB as it will create a larger, more diversified bank with increased assets. The deal is also expected to be accretive to FNCB's EPS, which could lead to a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Peoples Financial Services Corp (PFIS) is merging with FNCB Bancorp Inc (FNCB) in a deal valued at $129.0 million. The merger is expected to be 59% accretive to PFIS' 2025 estimated EPS and PFIS plans to boost its quarterly dividend per share post-deal.
The merger is expected to be beneficial for PFIS as it will create a larger, more diversified bank with increased assets. The deal is also expected to be accretive to PFIS' 2025 estimated EPS, which could lead to a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100