United Bankshares, Inc. and Virginia Commerce Bancorp, Inc. Announce Extended Termination Date for Merger
30 11월 2013 - 4:00AM
Business Wire
United Bankshares, Inc. (NASDAQ: UBSI) and Virginia Commerce
Bancorp, Inc. (NASDAQ: VCBI) announced today that they have entered
into a joint waiver and agreement with respect to the Agreement and
Plan of Reorganization, dated as of January 29, 2013, as amended,
among United Bankshares, Inc. (“United”), its subsidiary George
Mason Bankshares, Inc. (“George Mason”) and Virginia Commerce
Bancorp, Inc. (“Virginia Commerce”) to (1) extend from November 30,
2013 to January 31, 2014 the termination date for the merger
agreement, and (2) establish January 31, 2014 as the closing
date for the merger (the “Merger”) of Virginia Commerce with and
into George Mason consistent with the currently scheduled data
conversion.
On October 17, 2013 and October 21, 2013, respectively, the
Merger was approved by the shareholders of Virginia Commerce and
United, respectively. United and Virginia Commerce have received
regulatory approval for the Merger from the Virginia State
Corporation Commission, but have not yet received regulatory
approval from the Board of Governors of the Federal Reserve
System.
The targeted January 31, 2014 closing date would coordinate
closing the Merger of Virginia Commerce with and into George Mason
with the planned consolidation (including data conversion) of
Virginia Commerce Bank, a wholly owned subsidiary of Virginia
Commerce, with and into United Bank, a wholly owned subsidiary of
George Mason.
Richard M. Adams, Chairman and Chief Executive Officer of
United, stated: “United and Virginia Commerce are pleased to
announce that we have agreed to extend our merger termination date
and closing date to January 31, 2014, which is also the date of our
data conversion. Our merger has now been approved by the
shareholders of both companies and by the Virginia State
Corporation Commission. We are looking forward to having the
largest community bank headquartered in the Washington, D.C.
MSA.”
Cautionary Statements Regarding Forward-Looking
Information
This press release may contain forward looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, as amended, including statements about the Merger between
Virginia Commerce Bancorp, Inc. and United Bankshares, Inc.
Forward-looking statements are typically identified by words such
as “believe,” “expect,” “anticipate,” “intend,” “target,”
“estimate,” “continue,” “positions,” “prospects” or “potential,” by
future conditional verbs such as “will,” “would,” “should,” “could”
or “may”, or by variations of such words or by similar expressions.
These forward-looking statements are subject to numerous
assumptions, risks and uncertainties which change over time.
Forward-looking statements speak only as of the date they are made
and we assume no duty to update forward-looking statements.
In addition to factors previously disclosed in United’s and
Virginia Commerce’s reports filed with the Securities and Exchange
Commission (“SEC”), the following factors among others, could cause
actual results to differ materially from forward-looking statements
or historical performance: ability to obtain regulatory approvals
and meet other closing conditions to the Merger on the expected
terms and schedule; delay in closing the Merger; difficulties and
delays in integrating the United and Virginia Commerce businesses
or fully realizing cost savings and other benefits; business
disruption following the Merger; changes in asset quality and
credit risk; the inability to sustain revenue and earnings growth;
changes in interest rates and capital markets; inflation; customer
acceptance of United products and services; customer borrowing,
repayment, investment and deposit practices; customer
disintermediation; the introduction, withdrawal, success and timing
of business initiatives; competitive conditions; the inability to
realize cost savings or revenues or to implement integration plans
and other consequences associated with mergers, acquisitions and
divestitures; economic conditions; and the impact, extent and
timing of technological changes, capital management activities, and
other actions of the Federal Reserve Board and legislative and
regulatory actions and reforms.
Important Additional Information
On October 17, 2013 and October 21, 2013, respectively, the
Merger was approved by the shareholders of Virginia Commerce and
United, respectively. United and Virginia Commerce have received
regulatory approval for the Merger from the Virginia State
Corporation Commission Bureau of Financial Institutions, but have
not yet received regulatory approval from the Board of Governors of
the Federal Reserve System.
For more information about the Merger, see United’s Current
Report on Form 8-K filed with the SEC on January 30, 2013, United’s
Annual Report on Form 10-K filed with the SEC on February 28, 2013,
and the registration statement filed by United with the SEC on Form
S-4 on May 29, 2013 (and all subsequent amendments thereof and
prospectus supplements thereunder).
Investors can obtain all documents filed with the SEC by United
free of charge at the SEC’s Internet site (http://www.sec.gov). In
addition, documents filed with the SEC by United will be available
free of charge from the Corporate Secretary of United Bankshares,
Inc., 514 Market Street, Parkersburg, West Virginia 26101 telephone
(304) 424-8800. These documents may also be obtained for free by
accessing United’s website at www.ubsi-inc.com under the tab
“Investor Relations” and then under the heading “SEC Filings”.
United Bankshares, Inc.Steven E. WilsonChief Financial
Officer800-445-1347 ext. 8704
Virginia Commerce Bancorp (MM) (NASDAQ:VCBI)
과거 데이터 주식 차트
부터 1월(1) 2025 으로 2월(2) 2025
Virginia Commerce Bancorp (MM) (NASDAQ:VCBI)
과거 데이터 주식 차트
부터 2월(2) 2024 으로 2월(2) 2025
