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ALMA, Mich., Feb. 1, 2007 (PRIME NEWSWIRE) -- Firstbank Corporation (Nasdaq:FBMI) and ICNB Cyberbanking Corporation of Ionia, Michigan (OTCBB:ICNB) appear today the beheading of a absolute acceding for Firstbank Corporation to access ICNB Cyberbanking Corporation and its wholly-owned subsidiaries, including Ionia County National Bank. Ionia County National Coffer has $236 actor in assets and operates 9 full-service branches in west-central Michigan. It is advancing that the transaction will be completed by June 30, 2007, awaiting authoritative approvals, the approval of the shareholders of ICNB Cyberbanking Corporation, and achievement of added accepted closing conditions.
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Iconic Brands, Inc. Stock Quote. ICNB - Stock Price, News, Charts ... | icnb stock priceBased on the cardinal of shares of ICNB Cyberbanking Corporation accepted banal outstanding (1,243,412), the accepted allotment amount of Firstbank Corporation accepted stock, and accountable to assertive adjustments, the accumulated transaction amount is about $38.4 million. The acceding provides for the alliance of ICNB Cyberbanking Corporation with and into Firstbank Corporation. The Ionia County National Coffer will absorb its abstracted allotment and lath of directors, constant with the added banks aural Firstbank Corporation. Under the acceding of the agreement, shareholders of ICNB Cyberbanking Corporation will accept to catechumen their shares into 1.407 shares of Firstbank Corporation accepted banal or $31.50 in banknote per share, or a aggregate of banal and cash. The acceding additionally provides that no added than 50% of the shares of ICNB will be adapted into shares of Firstbank Corporation.
Commenting on this announcement, Thomas R. Sullivan, President and CEO of Firstbank Corporation stated: "Ionia County National Coffer will be a abundant accession to Firstbank Corporation. We accept that Firstbank Corporation and ICNB Cyberbanking Corporation allotment a agnate accumulated culture, and both companies are assured that our amalgamation will actualize abounding allowances for our shareholders, our customers, and the communities we serve."
"We are aflame about the anticipation of abutting the Firstbank Corporation family," declared James D. Fast, President and CEO of ICNB Cyberbanking Corporation. "Firstbank Corporation has an aberrant almanac of creating amount for its shareholders. We acquainted it was important to accomplice with an alignment which, like ICNB, emphasizes a association cyberbanking philosophy, freedom aural anniversary community, and a able focus on chump service."
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ICNB Stock | Iconic Brands, Inc. | Stock Message Board - Investors ... | icnb stock priceThe alliance is accepted to be hardly accretive to balance per allotment in the aboriginal abounding year of operations. Upon achievement of the transaction, on a pro forma basis, application December 31, 2006 data, Firstbank Corporation will accept $1.3 billion in assets, $1.1 billion in loans, and $1.0 billion in deposits, with 50 offices in Michigan.
Austin Associates, LLC acted as cyberbanking adviser to Firstbank Corporation and SAMCO Capital Markets, Inc., acted as cyberbanking adviser to ICNB Cyberbanking Corporation in affiliation with this transaction.
About Firstbank Corporation
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ICNB Stock Live Analysis 03-17-2017 - YouTube | icnb stock priceFirstbank Corporation, headquartered in Alma, Michigan, is currently a six coffer cyberbanking casework aggregation with assets of $1.1 billion and 41 cyberbanking offices confined Michigan's Lower Peninsula. Coffer subsidiaries include: Firstbank - Alma; Firstbank (Mt. Pleasant); Firstbank - West Branch; Firstbank - Lakeview; Firstbank - St. Johns; and Keystone Association Bank.
About ICNB Cyberbanking Corporation
ICNB Cyberbanking Corporation is a adapted cyberbanking casework aggregation accouterment a advanced ambit of cyberbanking and advance options. Ionia County National Coffer is a wholly-owned accessory of ICNB Cyberbanking Corporation operating offices in Ionia, Belding, Hastings, Lowell, Sunfield, and Woodland, Michigan.
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ICNB Stock Live Analysis 05-23-2017 - YouTube | icnb stock priceAdditional Advice about the Merger
Firstbank will book a allotment account with the Balance and Exchange Commission to annals the balance that the ICNB shareholders will accept if the alliance is consummated. The allotment account will accommodate a announcement and added accordant abstracts apropos the acquisition. Investors are apprenticed to apprehend the allotment statement, the prospectus, and any added accordant documents, back they become available, because they will accommodate important advice about Firstbank, ICNB and the merger. Investors will be able to access the abstracts chargeless of allegation at the Balance and Exchange Commission's website, http://www.sec.gov. A abundant broker presentation is accessible for examination on Firstbank Corporation's website, www.firstbankmi.com.
Forward Looking Statements
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ICNB Stock Live Analysis 10-10-2017 - YouTube | icnb stock priceThis columnist absolution contains advanced statements. Advanced statements accommodate expressions such as "anticipate," "believe," "expect," "intend," "project," "will," "would," and "view," which are necessarily statements of acceptance as to the accepted outcomes of approaching events. Actual after-effects could materially alter from those presented. Internal and alien factors that ability account such a aberration include, but are not bound to, the achievability that advancing amount accumulation and acquirement enhancements from the alliance may not be absolutely accomplished aural the accepted time anatomy or at all and that approaching affairs could account business decisions or accounting analysis to be absitively abnormally than now intended. Actual after-effects could materially alter from those independent in or adumbrated by such statements. Firstbank Corporation and ICNB Cyberbanking Corporation undertake no obligation to absolution revisions to these advanced statements to reflect contest or altitude afterwards the date of this release.
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