FIG Partners Served As Financial Advisor To Providence Bank In Merger With CB Financial Corporation

FIG Has Now Completed 87 M&A Transactions Totaling More Than
$3.7 Billion In Transaction Value Since Inception

ATLANTA, August 2, 2017 — Providence Bank and CB Financial Corporation (OTC-QB: CBFA) have announced a definitive merger agreement in a transaction valued at $11.2 million.

financial advisorUnder the terms of the agreement, CB shareholders will receive 23.5 cents of cash for each share of CB common stock. The transaction is expected to close in the first quarter of 2018.

“We are excited about this opportunity, as we will be positioned even better to meet the banking needs of these communities,” said Ted E. Whitehurst, President and Chief Executive Officer of Providence.

Following completion of the transaction, Providence will have more than $400 million in assets with five full-service offices in eastern North Carolina.

The FIG transaction team included Jerad Comarda, Associate, and John Schramm, Principal.

More information is available here.

Since 2003, FIG has been the trusted advisor to community banks and investors. Year to date, FIG has advised on 12 M&A transactions totaling more than $500 million in transaction value.

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