PB Financial Corporation and Coastal Bank & Trust Announce Signing of Strategic Merger Agreement - Seite 2
Coastal President and Chief Executive Officer Richard G. Jefferson commented, "I believe our team, customers, communities, and shareholders will benefit from this strategic merger. Providence Bank's performance is built on a strong foundation, similar to the culture and philosophy Coastal has nurtured since opening our doors in 2009. I look forward to joining Providence and being part of the team as we take the company forward."
Following the completion of the transaction, Ted E. Whitehurst will continue to serve as president and chief executive officer of Providence, as well as president and chief executive officer of PB Financial Corporation. Richard G. Jefferson will remain in a senior-level position with the combined Bank. A member of the Coastal Bank & Trust Board of Directors will join the PB Financial Board of Directors, and the remaining local Coastal board members will serve on a newly-formed Coastal Advisory Board of Providence Bank.
Janney Montgomery Scott LLC served as PB Financial's financial advisor and Wyrick Robbins Yates & Ponton LLP served as legal counsel. The Burke Group served as Coastal's financial advisor and Ward and Smith, P.A. served as legal counsel.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
About PB Financial Corporation.
PB Financial Corporation is the holding company for Providence Bank, a state-chartered community bank headquartered at 450 N. Winstead Avenue in Rocky Mount, North Carolina, with branches in Nashville, Raleigh, Rocky Mount, Tarboro, and Wilson. The bank opened its doors to customers in 2006 and has since been dedicated to serving its communities by offering a full suite of banking services to individuals and businesses. For more information and additional financial data, please visit pbknc.com
About Coastal Bank & Trust.
Lesen Sie auch
Coastal Bank & Trust was founded in April of 2009 and is headquartered in Jacksonville, North Carolina. The bank offers financial products and services primarily focused on retail customers and small- to medium-sized businesses in Onslow and Carteret counties, as well as surrounding areas. Coastal Bank & Trust has offices in Holly Ridge, Jacksonville, Morehead City, and Richlands, North Carolina, as well as a loan production office in New Bern. For more information and additional financial data, please visit coastalbanknc.com.