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Article: FIRST PALM BEACH BANCORP, INC. AND PBS FINANCIAL CORP. ANNOUNCE MERGER
- Article from:
- PR Newswire
- Article date:
- May 31, 1995
CopyrightCOPYRIGHT 1995 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WEST PALM BEACH, Fla., May 31 /PRNewswire/ -- First Palm Beach Bancorp, Inc. (Nasdaq: FFPB), the holding company for First Federal Savings and Loan Association of the Palm Beaches, and PBS Financial Corp., the holding company for Palm Beach Savings and Loan, F.S.A., announced today the execution of a definitive agreement to merge. The merger agreement contemplates that PBS and Palm Beach Savings will merge into First Palm Beach and First Federal, respectively.
In connection with the merger, and subject to the terms and conditions set forth in the agreement, each of the 703,000 shares of PBS common stock will be converted into $8.50 worth of First Palm Beach common ...
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