BCB Bancorp (BPBP) and Pamrapo Bancorp Will Jointly Merge
More News related to BCBP
- BCB Bancorp, Inc., Announces an Increase in Quarterly Earnings, Quarterly Cash Dividend
- BCB Bancorp (BPBP) and Pamrapo Bancorp Will Jointly Merge
- BCB Bancorp (BCBP) Announces a 20% Increase in Quarterly Cash Dividend
- BCB Bancorp (BCBP) Approves 5% Stock Repurchase Plan
- BCB Bancorp (BCBP) Approves $0.30 Dividend
More News related to PBCI
- Pamrapo Bancorp, Inc. Reports Third Quarter Results
- Pamrapo Bancorp (PBCI) Suspends Dividend on Common Stock
- BCB Bancorp (BPBP) and Pamrapo Bancorp Will Jointly Merge
- Pamrapo Bancorp (PBCI) Reports a Q4 Loss; Approves 5% Stock Buyback Plan
BCB Bancorp, Inc. (NASDAQ: BCBP) and Pamrapo Bancorp, Inc. (NASDAQ: PBCI) jointly announced the signing of a definitive merger agreement. Under the terms of the agreement Pamrapo will merge with BCBP. PBCI shareholders will receive 1.00 share of BCBP for each share of PBCI.
The Board of Directors of BCBP will be expanded by five seats for representation from PBCI. Daniel Massarelli will serve as Chairman of the combined entity and Mark Hogan will serve as Vice Chairman. Donald Mindiak will be the President and CEO of the combined entity, Thomas Coughlin will serve as COO and Kenneth Walter will serve as CFO. Both Boards of Directors have unanimously approved the merger.
The combined entity is projected to have $1.2 billion in total asset and hold the 5th largest deposit market share in Hudson County. The resulting company will be a bank holding company with one banking subsidiary, a state-chartered commercial bank.
Related Categories
Corporate NewsMergers and Acquisitions
Stocks Mentioned
-0.47Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
