2023-07-07 02:17:23 ET
- MC Bancshares, the holding company for M C Bank & Trust Company will acquire Heritage NOLA Bancorp ( OTCPK:HRGG ), the holding company of Heritage Bank of St. Tammany.
- The all-cash merger consideration is equal to the value of Heritage NOLA Bancorp's adjusted tangible shareholders' equity at the time of closing plus $6.5M.
- Heritage NOLA Bancorp shareholders are currently estimated to receive between $19.50 and $20.50 in cash consideration for each share of Heritage NOLA Bancorp common stock.
- Transaction closing is expected to occur in Q4 2023.
For further details see:
MC Bancshares to acquire Heritage NOLA Bancorp in an all-cash transaction