State Bank Financial (STBZ) to Acquire AloStar Bank of Commerce
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State Bank Financial Corporation and AloStar Bank of Commerce Announce Definitive Merger Agreement
June 15, 2017 8:00 AM EDTATLANTA, June 15, 2017 (GLOBE NEWSWIRE) -- State Bank Financial Corporation (NASDAQ: STBZ), the holding company for State Bank and Trust Company (State Bank), and AloStar Bank of Commerce (AloStar) announced today the signing of a definitive agreement for State Bank to acquire AloStar in an all cash transaction with a purchase price of one times AloStars adjusted tangible book value as of the last day of the month immediately before closing, currently estimated to be $196 million.
At March 31, 2017, AloStar had total assets of approximately $944 million, total loans of approximately $763 million, total deposits of... More
