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Article: United Security Bancshares and Legacy Bank, N.A. Agree to Merge.
- Article from:
- PR Newswire
- Article date:
- November 8, 2006
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FRESNO, Calif., Nov. 8 /PRNewswire-FirstCall/ -- United Security Bancshares ("USB") http://www.unitedsecuritybank.com/ and Legacy Bank, N.A. (BULLETIN BOARD: LBKC) announced today the signing of a definitive merger agreement providing for the merger of Legacy Bank, N.A. with and into United Security Bank, a wholly owned subsidiary of USB. Upon completion of the merger, Legacy Bank's branch office will be operated as a branch office of United Security Bank.
In the merger, USB will issue shares of its stock in a tax-free exchange for all of the Legacy Bank shares. The total value of the transaction is expected to be approximately $21.7 million. The merger is ...