Capitol Federal Financial Inc., the parent company of Capitol Federal Savings Bank, reached an agreement to acquire Capital City Bank for about $37.5 million in stock.
The owners of Capital City Bank will exchange one share of its stock for 3.725 shares of Capitol Federal's stock (Nasdaq: CFFN). Capitol Federal had a closing price of $12.64 on Friday. Although each company's board unanimously approved the merger agreement, it also requires regulatory approval. The deal is expected to close in October.
Established…
Capitol Federal Financial Inc., the parent company of Capitol Federal Savings Bank, reached an agreement to acquire Capital City Bank for about $37.5 million in stock.
The owners of Capital City Bank will exchange one share of its stock for 3.725 shares of Capitol Federal's stock (Nasdaq: CFFN). Capitol Federal had a closing price of $12.64 on Friday. Although each company's board unanimously approved the merger agreement, it also requires regulatory approval. The deal is expected to close in October.
Established…