After the investor’s acquisition of the tendered shares, NorCal will continue to operate as
“The Board of Directors of
The proposed transaction is subject to the tendering of at least 67% of the outstanding shares held by NorCal shareholders as well as required regulatory approval and other conditions specified in the agreement. The transaction is expected to close in the second half of 2021.
About
Located at the corner of 7th Avenue and Mangrove, Northern California National Bank is a locally owned and operated bank servicing the needs of the businesses and individuals in Northern California since March 2006. The Bank has a full service branch in Chico, CA and a Loan Production Office in Sacramento, CA. For more information call (530) 879-5900 or visit the website at www.norcalbank.com.
Forward-Looking Statements
Statements made in this release, other than those concerning historical financial information, may be considered forward-looking statements within the meaning of Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “aim,” “projects,” or words of similar meaning and expressions that indicate future events and trends, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may” or the negative of such terms or expressions. Such statements speak only as of the date of this release and are based on current expectations and involve a number of assumptions. These include statements as to the anticipated benefits of the transaction, including future operating and business plans, as well as other statements of expectations. The Bank’s ability to predict results, or the actual effect of the transaction, including future plans, expectations or strategies, is inherently uncertain. Factors which could have a material effect on the operations and future prospects of the Bank and the ability to consummate the transactions contemplated by the acquisition agreement, include but are not limited to: (1) customer and employee relationships and business operations may be disrupted by the transaction; (2) the ability to obtain required regulatory approvals and meet the conditions set forth in the acquisition agreement, including conditions relating to a minimum percentage of tendered shares, may be more difficult, time-consuming or costly than expected and may not be obtained at all; and (3) changes in interest rates, general economic conditions, challenges posed by the Covid-19 pandemic, legislative/regulatory changes, monetary and fiscal policies of the
For additional information or questions, please contact:
President/CEO
(530) 899-4214
Source:
2021 GlobeNewswire, Inc., source