Latest news with #PBBankshares
Yahoo
11-07-2025
- Business
- Yahoo
Pennsylvania banks to merge in $54.9M deal
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Honesdale, Pennsylvania-based Norwood Financial Corp. has agreed to buy in-state peer Coatesville-based PB Bankshares and its subsidiary, Presence Bank, in a deal valued at $54.9 million, the companies announced Monday. Following the transaction, the combined entity will have $3 billion in assets and expand Norwood's subsidiary, Wayne Bank, by adding four branches to the acquirer's existing 30-branch network in central and southeastern Pennsylvania. The deal is expected to close late in the fourth quarter of 2025 or early in the first quarter of 2026, the companies said. 'Presence is a growing and respected institution located within the most demographically attractive markets in Pennsylvania,' James O. Donnelly, CEO of Norwood, said in a statement. 'Joining these institutions provides Wayne Bank with the opportunity to deepen Presence Bank's relationships with its customers, given our broader product mix and larger balance sheet.' The deal is a combination of 80% stock and 20% cash. Presence shareholders can choose either 0.7850 shares of Norwood common stock per Presence share or $19.75 in cash per Presence share, the companies said. All Presence stock options will be cashed out upon completion of the merger. After the merger, Presence Bank will merge into Wayne Bank. The deal value was determined based on Norwood's share price as of July 3 and reflects 106.6% of Presence's tangible book value as of March 31, and a 2.3% core deposit premium. Presence shareholders receiving stock will get quarterly dividends of roughly $0.24 per share, representing a 3.6% yield. Following the merger's completion, Presence shareholders will own roughly 14% of the combined company. The deal is expected to be roughly 10% accretive to earnings per share in 2026 while leading to a 4.2% tangible book value dilution at closing and a tangible book value earn back period of 2½ years. Analysts at Stephens view Presence as a 'growth story in high quality southeast PA markets with a 5 yr. asset growth.' Under the terms of the deal, two non-employee Presence Bank board members will join the Norwood and Wayne Bank boards – one for a two-year term and the other for a three-year term. Janak Amin, CEO of Presence, will join Wayne Bank as executive vice president and chief operating officer. Additionally, selected Presence executives will remain with Norwood, the companies said. Amin said the deal 'will result in an enhanced customer experience for our commercial base and the opportunity to augment the retail portion of our business with their product set and consumer verticals.' Recommended Reading California banks merge in $233.6M deal Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
09-07-2025
- Business
- Associated Press
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates CORZ, OLO, PBBK on Behalf of Shareholders
NEW YORK, July 09, 2025 (GLOBE NEWSWIRE) -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: Core Scientific (NASDAQ: CORZ)'s sale to CoreWeave for 0.1235 newly issued shares of CoreWeave Class A common stock for each share of Core Scientific common stock. Upon closing of the proposed transaction, Core Scientific shareholders will own less than 10% of the combined company. If you are a Core Scientific shareholder, click here to learn more about your rights and options. Olo Inc. (NYSE: OLO)'s sale to Thoma Bravo for $10.25 per share in cash. If you are an Olo shareholder, click here to learn more about your legal rights and options. PB Bankshares, Inc. (NASDAQ: PBBK)'s sale to Norwood Financial Corp. Under the terms of the proposed transaction, PB Bankshares' shareholders will have the option to elect to receive either 0.7850 shares of Norwood common stock or $19.75 in cash for each common share of PB Bankshares they own. If you are a PB Bankshares shareholder, click here to learn more about your legal rights and options. Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email [email protected] or [email protected]. Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Halper Sadeh LLC Daniel Sadeh, Esq. Zachary Halper, Esq. One World Trade Center 85th Floor New York, NY 10007 (212) 763-0060 [email protected] [email protected]
Business Wire
09-07-2025
- Business
- Business Wire
PB BANKSHARES INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of PB Bankshares, Inc.
NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ('KSF') are investigating the proposed sale of PB Bankshares, Inc. (NasdaqCM: PBBK) to Norwood Financial Corp (NasdaqGM: NWFL). Under the terms of the proposed transaction, shareholders of PB Bankshares will have the option to elect to receive either 0.7850 shares of Norwood common stock or $19.75 in cash for each common share of PB Bankshares they own, subject to proration to ensure that, in the aggregate, 80% of the transaction consideration will be paid in the form of Norwood common stock. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company. If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ( toll free at any time at 855-768-1857, or visit to learn more. To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit
Associated Press
08-07-2025
- Business
- Associated Press
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates CRGX, PBBK, COOP on Behalf of Shareholders
NEW YORK, July 8, 2025 /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: CARGO Therapeutics, Inc. (NASDAQ: CRGX)'s sale to Concentra Biosciences, LLC. Under the terms of the proposed transaction, Concentra will acquire CARGO for $4.379 in cash per share, plus one non-transferable contingent value right, representing the right to receive additional proceeds under certain conditions. If you are a CARGO shareholder, click here to learn more about your legal rights and options. PB Bankshares, Inc. (NASDAQ: PBBK)'s sale to Norwood Financial Corp. Under the terms of the proposed transaction, PB Bankshares' shareholders will have the option to elect to receive either 0.7850 shares of Norwood common stock or $19.75 in cash for each common share of PB Bankshares they own. If you are a PB Bankshares shareholder, click here to learn more about your legal rights and options. Mr. Cooper Group Inc. (NASDAQ: COOP)'s sale to Rocket Companies for 11.0 Rocket shares for each share of Mr. Cooper common stock. Upon completion of the proposed transaction, Mr. Cooper shareholders will own approximately 25% of the combined company. If you are a Mr. Cooper shareholder, click here to learn more about your legal rights and options. Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email [email protected] or [email protected]. Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Halper Sadeh LLC Daniel Sadeh, Esq. Zachary Halper, Esq. (212) 763-0060 [email protected] [email protected] View original content to download multimedia: SOURCE Halper Sadeh LLP
Yahoo
08-07-2025
- Business
- Yahoo
Pennsylvania's Norwood Financial and PB Bankshares announce merger
Norwood Financial and PB Bankshares, both based in Pennsylvania, have sealed a merger deal valued at around $54.9m. The deal will see PB Bankshares integrate into Norwood Financial, strengthening the latter's presence in Central and Southeastern Pennsylvania. Besides, PB Bankshares' subsidiary Presence Bank will merge into Norwood Financial subsidiary Wayne Bank, resulting in a combined entity with approximately $3bn in assets. Norwood Financial and PB Bankshares reported total assets of $2.4bn and $467m, respectively, as of 31 March 2025. Wayne Bank operates 30 branches across Pennsylvania and New York, while Presence Bank has four branches and a loan production office in Central and Southeastern Pennsylvania. The transaction is due to be finalised in late 2025 or early 2026, contingent on regulatory approvals, PB Bankshares' shareholder consent, and other standard closing conditions. The merger terms specify that 80% of PB Bankshares' common shares will be exchanged for Norwood Financial stock, while the remaining 20% will be converted to cash. Shareholders can choose to receive either 0.7850 shares of Norwood Financial stock or $19.75 in cash per share, with adjustments to maintain the stock consideration ratio. Norwood Financial president, CEO and director James Donnelly said: 'I am very pleased to announce our merger with Presence Bank, a nearly 106-year-old institution which shares the same values, culture, and commitment to high quality customer service found at Wayne Bank. 'Presence is a growing and respected institution located within the most demographically attractive markets in Pennsylvania.' Presence president, CEO and director Janak Amin said: 'We are equally excited for this strategic partnership and the opportunity to gain market share in Central and Southeastern Pennsylvania. 'We have admired the leadership of Jim and his team, the similar culture and values we share, and the reputation of Wayne Bank as a premier Pennsylvania-based community bank.' "Pennsylvania's Norwood Financial and PB Bankshares announce merger" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
