APCU/Center Parc Credit Union To Acquire Covington, Georgia-Based Affinity Bank, A Wholly-owned Subsidiary Of Affinity Bancshares

Affinity Bancshares Inc Ordinary Shares +0.81%

Affinity Bancshares Inc Ordinary Shares

AFBI

21.17

+0.81%

The transaction is expected to close during the fourth quarter of 2024 or the first quarter of 2025. Following the closing of the transaction, Affinity and Affinity Bank will liquidate, dissolve and distribute their remaining assets to Affinity shareholders.

Under the terms of the purchase and assumption agreement, APCU will pay Affinity Bank an aggregate amount estimated to provide Affinity with sufficient cash to have $22.50 per share in cash available for distribution to its shareholders, subject to potential increase for levels of tax payments.

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