FIG Has Now Completed 114 M&A Transactions Totaling More Than
$7 Billion In Transaction Volume
ATLANTA, December 12, 2018 — Morris State Bancshares, Inc. and FMB Equibanc, Inc. have announced the signing of a definitive merger agreement.
Morris State Bancshares, Inc. (Morris), the parent company of Morris Bank, headquartered in Dublin, Georgia, and FMB Equibanc, Inc. (FMB), the parent company of Farmers & Merchants Bank, headquartered in Statesboro, Georgia, will combine their parent companies and subsidiaries.
In Georgia, the new company will have full-service banking locations in Dublin, Gordon, Gray, Warner Robins, Statesboro, and Brooklet.
Under terms of the agreement, each share of FMB common stock will be exchanged for shares of Morris common stock, cash, or a combination thereof valuing FMB at $9.25 per share, or $23.6 million in the aggregate.
Brett Morgan, FMB’s President and Chief Executive Officer, said “We have known the Morris team for some time now, and we are pleased to partner with them in this strategic transaction. We are particularly excited about the opportunity available to our combined Georgia operations. Like FMB, Morris Bank values and understands what it means to provide true community banking, with local decision making and high-touch customer service. This will be a great opportunity for success together.”
More information is available here.
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