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FOUNDERS NATIONAL BANK STOCKHOLDERS APPROVE LANDMARK BANCORP MERGER

FOUNDERS NATIONAL BANK STOCKHOLDERS APPROVE LANDMARK BANCORP MERGER
 LA HABRA, Calif., Nov. 14 /PRNewswire/ -- Craig Collette, president and chief executive officer of Landmark Bancorp, announced today that in a special stockholders' meeting, the stockholders of Founders National Bank, Brea, Calif., ("Founders") approved the merger of Founders into Landmark Bank.
 Under the previously announced terms of the agreement, Founders stockholders will receive $13.25 in consideration for each share of Founders stock, to be paid in Landmark stock, or cash, or a combination of stock and cash.
 A 66-2/3 percent vote of the Founders common shares outstanding was required to approve the merger. The merger is scheduled to close on or about Dec. 6, 1991.
 Founders National Bank is a national banking association operating from one location in Brea. As of Dec. 31, 1990, Founders had total assets of $52,300,000.
 Landmark Bank, headquartered in La Habra, is a leading independent bank in Orange County. Landmark Bank has branches in La Habra, Irvine and Anaheim, and is purchasing the Bank of California's Placentia branch office.
 -0- 11/14/91
 /CONTACT: Kevin P. Hanifin, CFO of Landmark Bancorp, 213-694-6537 or 714-739-1511 or William F. Coffin of Financial Relations Board Inc., 818-783-2400/ CO: Landmark Bancorp, Founders National Bank ST: California IN: FIN SU: TNM EH-AL -- LA022 -- 4539 11/14/91 15:48 EST
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Publication:PR Newswire
Date:Nov 14, 1991
Words:222
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