NEW YORK - New York Bancorp, based in Douglaston, Queens, said its shareholders approved the acquisition of Hamilton Bancorp.
Holders of Hamilton common stock will receive 1.6 common shares of New York Bancorp for each of their shares.
Subject to regulatory approval, the transaction is expected to close early in the first quarter of 1995. On a pro forma basis as of Sept. 30, the combined entities will have about $2.6 billion of assets, share-holder's equity of about $169 million, and 26 branches serving Kings and Queens counties in New York City and Nassau and Suffolk counties on Long Island. New York Bancorp, with assets of $1.8 billion, operates 17 offices in Queens, Nassau, Suffolk, and Westchester counties through Home Federal Savings Bank, its sole subsidiary.
EUGENE, Ore. - Shareholders of Centennial Bancorp have approved the acquisition of CG Bancorp, Cottage Grove.
The number of Centennial shares to be issued to CG stockholders will be determined using the average of the closing prices for Centennial common stock over a specified period prior to closing. The value of the common stock to be issued will be equal about 1.45 times CG Bancorp's adjusted net book value at closing. All regulatory approvals have been received. The merger is scheduled to close Friday.
