ACNB Closes USD 33.3m Acquisition of Maryland's New Windsor Bancorp.
5 July 2017 - Pennsylvania, US-based bank holding company ACNB Corp. (NASDAQ: ACNB) has closed the acquisition of Maryland, US-based bank holding company New Windsor Bancorp, Inc. (OTC: NWID) and its New Windsor State Bank subsidiary, the company said.
This transaction is valued at USD 33.294m or USD 33.11 per share. The transaction is intended to qualify as a tax-free reorganisation for federal income tax purposes.
The deal was announced last November.
ACNB was founded in 1857 and serves its marketplace via a network of 22 retail banking offices.
New Windsor Bancorp, through its holdings, provides a broad range of commercial and consumer banking services to individuals, small and medium-sized businesses and professionals in Carroll County, Maryland and the adjacent counties of Maryland and Pennsylvania.
Bybel Rutledge LLP served as legal counsel and Commonwealth Advisors, Inc. served as financial advisor to ACNB Corp. BuckleySandler LLP served as legal counsel and Sandler O'Neill + Partners, LP served as financial advisor to New Windsor Bancorp, Inc.
Sector: Banking/Financial Services
Target: New Windsor Bancorp
Buyer: ACNB Corp
Deal size in USD: 33.3m
Type: Corporate Acquisition
Financing: Cash and Stock
Buyer advisor: Bybel Rutledge , Commonwealth Advisors,
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|Publication:||M & A Navigator|
|Date:||Jul 5, 2017|
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