Ocean Shore Holding Company (NASDAQ: OSHC), the holding company for New Jersey-based Ocean City Home Bank, has said that it has received final regulatory approvals for its previously announced acquisition of CBHC
Financialcorp, Inc and its wholly-owned subsidiary, Select Bank.
Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, stockholders of CBHC will receive $15.
The merger is subject to certain conditions, including the approval of the shareholders of CBHC and receipt of regulatory approval.
Brady, President and Chief Executive Officer of Ocean Shore, stated, "We are very pleased to announce our agreement for the acquisition of CBHC Financialcorp and Select Bank.
The Colorado Telehealth Network, managed by CHA and CBHC and powered
CHA and CBHC expect that the Colorado Telehealth Network will connect approximately 70 percent of the 388 eligible facilities by the end of the year and will complete connectivity in early 2010.
CBHC is a nonprofit organization that represents Colorado's network of community behavioral health care providers (including 17 community mental health centers, two specialty clinics, and five behavioral health organizations).