1st United makes announcement.BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--Jan. 30, 1995--1st United Bancorp (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :FUBC), parent of 1st United Bank, has entered into an agreement to acquire 180,000 shares of its common stock. The agreement is subject to the consummation CONSUMMATION. The completion of a thing; as the consummation of marriage; (q.v.) the consummation of a contract, and the like. 2. A contract is said to be consummated, when everything to be done in relation to it, has been accomplished. of 1st United Bancorp's acquisition of Jupiter Tequesta National Bank as well as other contingencies. The stock will be repurchased at the average fair value of the stock for a 15 trading day In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. period preceding the consummation of the purchase. 1st United Bancorp intends to issue a like amount of shares to Jupiter Tequesta shareholders as a portion of the common stock that will be issued to them as part of the acquisition price of Jupiter Tequesta National Bank. The acquisition of Jupiter Tequesta is anticipated to close in April 1995, subject to regulatory, shareholder and other contingencies. ``Management believes that the repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. of these shares will be accretive to its per share earnings and will enhance the economic value of the Jupiter Tequesta National Bank acquisition,'' said Warren S. Orlando, president and chief executive officer. CONTACT: 1st United Bancorp, Boca Raton John Marino, 407/392-4000 |
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