SCBT Financial (SCBT) to Acquire Peoples Bancorp
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SCBT Financial Corporation (NASDAQ: SCBT) and Peoples Bancorporation, Inc. (OTC: PBCE) jointly announced today the signing of a definitive merger agreement under which SCBT will acquire Peoples Bancorporation.
Under the terms of the agreement, Peoples Bancorporation shareholders will receive 0.1413 shares of SCBT common stock per share of PBCE common stock, subject to certain adjustments. The stock issuance is valued at approximately $28.4 million in the aggregate, based on 7,105,563 shares of Peoples Bancorporation common stock outstanding.
Under the terms of the agreement, Peoples Bancorporation shareholders will receive 0.1413 shares of SCBT common stock per share of PBCE common stock, subject to certain adjustments. The stock issuance is valued at approximately $28.4 million in the aggregate, based on 7,105,563 shares of Peoples Bancorporation common stock outstanding.
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