Janney Served As Financial Advisor To BayCom Corp In $39.4 Million Acquisition Of TIG Bancorp

BayCom Corp (NASDAQ:BCML) and TIG Bancorp have announced the signing of a merger agreement.

Janney Advised BayCom Corp In $39.4 Million Acquisition Of TIG BancorpBayCom Corp (BayCom), the holding company for United Business Bank (UBB), will acquire TIG Bancorp (TIG), the holding company for First State Bank of Colorado, in a cash and stock transaction valued at approximately $39.4 million or $12.37 per share. The transaction is based on BayCom’s common stock price closing price of $21.90 per share on June 28, 2019.

Under terms of the agreement, BayCom and TIG will merge their holding companies and subsidiaries. Each TIG shareholder will receive $6.34 in cash and 0.27543 of a share of BayCom common stock in exchange for each share of TIG common stock.

The transaction will expand BayCom’s footprint in Colorado. As of March 31, 2019, TIG had approximately $229.0 million in assets, $146.2 million in loans, $198.4 million in deposits. Upon completion of the transaction, the combined company will have approximately $2.0 billion in total assets, $1.4 billion in total loans and $1.8 billion in total deposits. UBB will have 20 locations in California, two in Washington, six in New Mexico and seven in Colorado.

George Guarini, President and CEO of BayCom, said, “Let me start by addressing the First State Bank of Colorado staff. At the end of the day, our business is only as good as our people and we are looking forward to having the First State Bank of Colorado team join the United Business Bank family. Jeffrey Walker and his team built a solid franchise and we are pleased that Jeffrey will join us as President of the Colorado Division of United Business Bank. We are very excited to have the opportunity to enter the Colorado market setting the stage for taking advantage of additional partner opportunities available in the state. We look forward to serving First State Bank of Colorado’s clients and welcoming the shareholders of TIG.”

The team at Janney included Greg Gersack, Managing Director, Head of Capital Markets and Head of MidWest and West Coast Depositories (FIG); Patrick Nicolini, Managing Director, FIG Group; and Jason Werner, Director, FIG Group.

More information is available here.

FIG Partners Is Now Part Of Janney
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