First Merchants Corporation (NASDAQ: FRME) and C Financial Corporation
announced they have executed a definitive merger agreement whereby C
Financial Corporation will merge with and into First Merchants
Corporation, and its wholly owned bank subsidiary, Cooper State Bank,
will merge with and into First Merchants Bank, N.A.
The merger agreement provides that the shareholders of C Financial
Corporation will receive $14.5 million in cash or approximately 1.8x
tangible book value.
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