Hurricane Sandy has delayed shareholder votes on two community bank deals on the East Coast. Pending bank buyers Independent Bank Corp. (INDB) in Rockland, Mass., and C1 Bank in St. Petersburg, Fla., are the affected sellers.
Independent said Wednesday that it will provide shareholders of its target, Central Bancorp (CEBK) in Somerville, Mass., an extra day to vote on the deal. Central’s shareholders now have until Friday at 5 p.m. to vote “due to the weather event impacting the Northeastern United States in recent days,” the companies said in a joint release. The deal, which has already received regulatory approvals, would create a $5.7 billion-asset bank in Massachusetts.