American Community Bancshares to be acquired by Yadkin Valley Financial
Shares of American Community Bancshares, Inc., (Nasdaq:ACBA) are soaring ahead of the bell after the small cap bank said this morning that it will be acquired by Yadkin Valley Financial Corporation (Nasdaq:YAVY) for a premium of $92 million.
The total transaction value represents 168% of American Community's book value, 207% of tangible book value, 17.4% of total assets, a 19.5% core deposit premium, and 23 times American Community's trailing twelve months net income.
Shares leaped 65%, or $4.55, to $11.55 ahead of the bell. For detailed price information and news stories on American Community, click ACBA.
About the Author
Reporter Jennifer Schonberger is based in SmallCapInvestor.com's Washington, D.C. bureau.
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