FIG Has Now Completed 113 M&A Transactions Totaling More Than
$7 Billion In Transaction Volume
ATLANTA, December 11, 2018 — BayCom Corp (NASDAQ:BCML) and Uniti Financial Corporation (OTC PINK:UIFC) have announced the signing of a merger agreement.
BayCom Corp (BayCom), the holding company for United Business Bank, will acquire Uniti Financial Corporation (UIFC), the holding company for Uniti Bank, in a cash and stock transaction valued at approximately $63.9 million, or $3.99 per share.
The transaction is based on the closing price of BayCom common stock of $23.39 on December 7, 2018 and is expected to close in the second quarter of 2019. Each share of UIFC stock will be exchanged for $2.30 in cash and 0.0723 shares of BayCom common stock.
Under the terms of the agreement, BayCom and UIFC will merge their holding companies and subsidiaries.
The transaction will expand the BayCom’s presence in Southern California to three locations.
As of September 30, 2018, UIFC had approximately $343.6 million in assets, $262.4 million in loans, $294.6 million in deposits and $46.6 million in shareholder’s equity.
More information is available here.
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