First Citizens BancShares, Inc. (NASDAQ:FCNCA) Files An 8-K Other EventsItem 8.01. Other Events
On June 27, 2018, First Citizens BancShares, Inc.'s bank subsidiary, First-Citizens Bank & Trust Company ("FCB"), and Capital Commerce Bancorp, Inc. ("Capital Commerce") announced that they had entered into a definitive merger agreement. The agreement provides for the acquisition by FCB of Wisconsin-based Capital Commerce and its bank subsidiary, Securant Bank & Trust.
The agreement has been approved by the Boards of Directors of both companies. The transaction is expected to close no later than the fourth quarter of 2018, subject to the receipt of regulatory approvals and the approval of Capital Commerce's shareholders.
Under the terms of the agreement, cash consideration of $4.75 will be paid to Capital Commerce's shareholders for each of their shares of Capital Commerce's common stock.
A copy of the joint press release issued by FCB and Capital Commerce announcing the proposed transaction is attached as Exhibit 99.1 to this Report.
Financial Statements and Exhibits
(c) Exhibits. The following exhibit accompanies this report.
Joint press release dated June 27, 2018
FIRST CITIZENS BANCSHARES INC /DE/ ExhibitEX-99.1 2 securantbank_8kxexhibit991.htm EXHIBIT 99.1 Exhibit Capital Commerce Bancorp,…To view the full exhibit click
About First Citizens BancShares, Inc. (NASDAQ:FCNCA)
First Citizens BancShares, Inc. is a holding company. The Company invests the liquidity generated from its funding sources in interest-earning assets, including loans and leases, investment securities and overnight investments. It also invests in bank premises, hardware, software, furniture and equipment used to conduct its commercial banking business. The Company provides treasury services products, cardholder and merchant services, wealth management services and various other products and services typically offered by commercial banks. The Company conducts its banking operations through its subsidiary, First-Citizens Bank & Trust Company (FCB), a state-chartered bank. FCB offers services, including taking of deposits, cashing of checks and providing for individual and commercial cash needs; checking and savings plans; commercial, business and consumer lending; a full-service trust department; wealth management services, and other activities incidental to commercial banking.