The aggregate transaction value at closing was approximately $203.2 million in shares of Heartland common stock and cash (including the cash consideration to be paid to holders of FBLB
's stock appreciation rights but excluding Heartland's repayment and assumption of FBLB
The transaction value is based on Heartland's closing common stock price of USD 50.15 per share on December 11, 2017, the stock and cash transaction includes the cash consideration to be paid to holders of FBLB
's stock appreciation rights.
After the closing of the FBLB
transaction and the previously announced acquisition of Signature Bancshares, Inc.
Subject to approval by bank regulators, FBLB
shareholders and customary closing conditions, the transaction is expected to close in the second quarter of 2018.
Dubuque, IA: FBLB
and its wholly-owned subsidiary, FirstBank & Trust, will be acquired by Heartland.