Park Sterling Corporation (NASDAQ:PSTB) Files An 8-K Other Events
Item 8.01.Other Events.
On April 27, 2017, South State Corporation, a South Carolina
corporation (South State), and Park Sterling issued a
joint press release announcing the execution of an Agreement and
Plan of Merger, dated as of April 26, 2017, by and between South
State and Park Sterling (the Merger Agreement), to which,
subject to the terms and conditions set forth therein, Park
Sterling will merge with and into South State (the
Merger), with South State as the surviving corporation in
the Merger. The Merger Agreement provides that immediately
following the Merger, Park Sterlings wholly owned bank
subsidiary, Park Sterling Bank, will merge with and into South
States wholly owned bank subsidiary, South State Bank (the
Bank Merger), with South State Bank as the surviving
entity in the Bank Merger. A copy of the press release containing
the announcement is attached hereto as Exhibit 99.1 and
incorporated by reference herein.
On April 27, 2017, the Company also provided supplemental
information regarding the proposed transaction in connection with
a presentation to investors. A copy of the investor presentation
is attached hereto as Exhibit 99.2 and is incorporated by
Item 9.01. Financial Statements and Exhibits.
Description of Exhibit
Amendment to Bylaws
Press Release, dated April 27, 2017
Investor Presentation, dated April 27, 2017
About Park Sterling Corporation (NASDAQ:PSTB)
Park Sterling Corporation is a holding company for Park Sterling Bank (the Bank). The Bank is a North Carolina-chartered commercial nonmember bank. The Company provides banking services to small and mid-sized businesses, real estate owners, residential builders, institutions, professionals and consumers doing business or residing within its target markets. It provides a range of banking products, including personal, non-profit checking accounts, interest on lawyer trust accounts, individual retirement accounts, business and personal money market accounts, time deposits, overdraft protection, and online and mobile banking. Its wealth management activities include investment management, private banking and investment brokerage services. Its cash management activities include remote deposit capture, lockbox services, sweep accounts and wire payments. Its capital markets activities include interest rate and currency risk management products, loan syndications and debt placements. Park Sterling Corporation (NASDAQ:PSTB) Recent Trading Information
Park Sterling Corporation (NASDAQ:PSTB) closed its last trading session up +0.23 at 12.52 with 272,891 shares trading hands.