Raymond James Downgrades C1 Financial (BNK) to Market Perform
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Bank of the Ozarks (OZRK), C1 Financial (BNK) to Merge
November 9, 2015 5:28 PM ESTBank of the Ozarks (Nasdaq: OZRK) and C1 Financial, Inc. (NYSE: BNK) jointly announced 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 share and its tangible book value per... More
