Raymond James Downgrades C1 Financial (BNK) to Market Perform
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Bank of the Ozarks, Inc. and C1 Financial, Inc. Enter into Definitive Merger Agreement
November 9, 2015 5:27 PM ESTLITTLE ROCK, Ark. & ST. PETERSBURG, Fla.--(BUSINESS WIRE)-- Bank of the Ozarks, Inc. (NASDAQ: OZRK) and C1 Financial, Inc. (NYSE: BNK) jointly announced today the signing of a definitive agreement and plan of merger (Agreement) whereby Bank of the Ozarks, Inc. (OZRK) will acquire C1 Financial, Inc. (C1) and its wholly-owned bank subsidiary, C1 Bank, in an all-stock transaction valued at approximately $402.5 million, or approximately $25.00 per C1 share, subject to potential adjustments as described in the Agreement. Closing of the transaction is expected to be immediately accretive to OZRKs book value per common... More
