FIG Partners Advised Santa Cruz County Bank In $68.9 Million Merger With Lighthouse Bank

FIG Has Completed 123 M&A Transactions Totaling More Than $8 Billion

ATLANTA, May 31, 2019 — Santa Cruz County Bank (OTC Pink: SCZC) and Lighthouse Bank (OTC Pink: LGHT) have announced a merger agreement in an all-stock transaction.

FIG Advised Santa Cruz County Bank In $68.9 Million Merger With Lighthouse BankThe transaction is valued at approximately $68.9 million, or $25.50 per share of Lighthouse stock, as of the close of market on May 28, 2019. Lighthouse Bank, headquartered in Santa Cruz, California, has approximately $314 million in total assets and a return on average assets of 1.73% as of March 31, 2019.
Under terms of the agreement, shareholders of Lighthouse Bank will receive a fixed exchange ratio of 0.5204 shares of Santa Cruz County Bank common stock for each share of Lighthouse Bank common stock.
The merger will increase Santa Cruz County Bank’s total assets to nearly $1 billion on a pro forma basis, with seven banking offices in Santa Cruz and Santa Clara Counties.

David Heald, Santa Cruz County Bank President and CEO, said, “We are very pleased to welcome Lighthouse Bank’s board members, executives and employees to our team and look forward to their contributions to our combined premier performing institution. Together, we will achieve even greater milestones.”

The FIG team included Patrick Nicolini, Principal; Greg Gersack, Senior Managing Principal and Co-Head of Investment Banking; and Jason Werner, Vice President.

More information is available here.

Since 2003, FIG has been the trusted advisor to community banks and investors. To learn more about FIG’s investment banking services, visit www.figpartners.com.