FFKYFédération Française de Kundalini Yoga (French: French Federation of Kundalini Yoga)
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As part of the transaction, FFKY's outstanding preferred stock, all of which was issued in the Troubled Assets Relief Program, will be redeemed at or promptly following closing of the acquisition for approximately USD 12.3m, plus accrued but unpaid interest.
The transaction is subject to receipt of FFKY shareholder approval, CBIN shareholder approval and customary regulatory approvals.
First Financial Service Corporation (NASDAQ: FFKY) has reported a net income to common stockholders of USD1.2m for the quarter ended September 30, 2013, an improvement from the net loss to common stockholders of USD1.0m for the same quarter in 2012.
(NASDAQ: FFKY) said it has added senior leadership to the company and its subsidiary, First Federal Savings Bank of Elizabethtown.
First Financial Service Corporation (NASDAQ: FFKY) has declared a quarterly cash dividend of USD0.19 per share on its common stock.