Putnam County Savings Bank and CMS Bancorp, Inc. Announce Expected Closing Date for Pending Merger
08 4월 2015 - 7:13AM
Putnam County Savings Bank ("PCSB") and CMS Bancorp, Inc.
(Nasdaq:CMSB) ("CMS"), the holding company for CMS Bank, jointly
announced that they expect their previously announced merger of CMS
and CMS Bank with and into PCSB to be completed on or about April
28, 2015. All required regulatory approvals for the merger
have been received and the stockholders of CMS have approved the
adoption of the merger agreement with PCSB. Upon completion of
the transaction, CMS stockholders will receive cash merger
consideration of $13.25 per share.
Luse Gorman, PC served as legal counsel and FinPro Capital
Advisors, Inc. served as financial advisor to PCSB. Paul
Hastings LLP served as legal counsel and Sandler O'Neill +
Partners, L.P. served as financial advisor to CMS.
About PCSB
Putnam County Savings Bank, a New York chartered mutual savings
bank, operates from its administrative headquarters
in Brewster, New York, and 10 retail branch offices located
in Putnam, Westchester, Rockland and
Dutchess Counties, New York. At December 31,
2014, Putnam County Savings Bank had total assets,
deposits and stockholders' equity of $991.0
million, $855.0 million and $112.3 million,
respectively.
About CMS
CMS Bancorp, Inc. is the holding company of CMS Bank, a New
York chartered stock savings bank, and provides a full range
of banking services to both individual and business customers
through its administrative headquarters in White Plains, New York
and 5 retail branch facilities located in Westchester County,
New York. CMS Bancorp, Inc. is traded on the NASDAQ Global
Market under the trading symbol "CMSB." At December
31, 2014, CMS Bancorp, Inc. had total assets, deposits and
stockholders' equity of $267.5 million, $214.7
million and $22.1 million, respectively.
Forward-Looking Statements
The foregoing material contains forward-looking statements
concerning PCSB and CMS. We caution that such statements are
subject to certain risks and a number of uncertainties that may
adversely affect the business, financial condition and results of
operations of PCSB and CMS. These forward-looking statements
include, without limitation, statements relating to the closing of
the proposed transaction between PCSB and CMS. A number of
important factors could cause actual results or events to differ
materially from those indicated by such forward-looking statements,
many of which are beyond the parties' control, including the
parties' ability to consummate the transaction or to satisfy the
conditions to completion of the transaction, including the parties'
ability to meet expectations regarding the timing of the
transaction. Readers should not place undue reliance on any
forward-looking statements. PCSB and CMS do not undertake, and
specifically disclaim, any obligation to publicly release the
results of any revisions that may be made to any forward-looking
statements to reflect the occurrence of anticipated or
unanticipated events or circumstances after the date of such
statements.
CONTACT: For further information contact:
Joseph D. Roberto
Chairman, President and CEO
Putnam County Savings Bank
(845) 279-7101
John E. Ritacco
President and CEO
CMS Bancorp, Inc.
(914) 422-2700
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