Takeover#7- a 105% Gain

I think we should have gooten a higher price but its still a 100%+ gain

CenterState Bank Corp. has agreed to buy Charter Financial Corp. in Georgia in a cash and stock deal valued at $360.1 million.

The deal gives CenterState (NASDAQ: CSFL), based in Winter Haven, its first entry in commercial banking in the Georgia and Alabama markets, including Atlanta, where Charter Financial’s CharterBank has nearly a dozen branch offices.

CenterState CEO John Corbett said as recently as February that he viewed Atlanta as a logical expansion market for the bank.

CenterState has completed 16 acquisitions of Florida banks since 2009, growing to more than $10 billion in total assets. It’s the second-largest bank headquartered in the Tampa Bay area, lagging only Raymond James Bank.

Charter Financial (NASDAQ: CHFN), headquartered in West Point, Georgia, had $1.6 billion in total assets as of Dec. 31.

The deal is expected to close in the fourth quarter of this year. After the deal closes, CenterState will have about $12 billion in total assets, gross loans of $8 billion, deposits of $9.5 billion and a market capitalization of about $2.5 billion, a press release said.

CenterState already is familiar with the Georgia and Alabama markets through its correspondent banking unit, which is based in Atlanta and manages business relationships for about two-thirds of the community banks in the two states.

But the bank is excited to have a traditional banking presence in Atlanta, Corbett said in the press release. The Atlanta metro area is the second-largest in the southeast United States by population.

Charter stockholders will receive 0.738 of a share of CenterState common stock and $2.30 in cash for each outstanding share of Charter stock they hold. Based on CenterState’s stock price of ...

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A Legend Passes, Size Matters and The Warped SpaceTime Continiuum


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Bonus bank Takeover- a 230%+ gain! 6th Takeover in 2018

Better than triple based on $15.75 cost at time of recommendation! Up over 60% today

RBB Bancorp (RBB) and its subsidiaries, Royal Business Bank and RBB Asset Management Company (collectively referred to herein as "RBB") and First American International ...

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It's that time of year once again. Spring training is just about over, and the trucks will be heading north any day to get the baseball season underway. The Northern teams will be trading Florida and Arizona sunshine for ...

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Overvalued Markets, Cheap Banks,and Great Reads

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