SOURCE: Ambassador Financial Group, Inc.

Ambassador Financial Group, Inc.

June 28, 2016 10:49 ET

Ambassador Financial Group, Inc. Provided the Fairness Opinion to First Choice Bank for its Proposed Acquisition by Berkshire Hills Bancorp, Inc.

ALLENTOWN, PA--(Marketwired - Jun 28, 2016) -  Ambassador Financial Group, Inc. is pleased to announce that it provided the fairness opinion to First Choice Bank in regards to its proposed acquisition by Berkshire Hills Bancorp, Inc.

First Choice Bank is headquartered in Mercerville, New Jersey and had assets of $1.1 billion as of March 31, 2016. Berkshire Hills Bancorp, Inc. is headquartered in Pittsfield, Massachusetts and had assets of $7.8 billion as of March 31, 2016. The aggregate consideration of the transaction at announcement was $111.7 million and is expected to close in the fourth quarter of 2016 subject to customary closing conditions.

Ambassador Financial Group is a FINRA registered broker-dealer which offers a comprehensive suite of strategic, customized solutions to community banks and thrifts nationwide, including balance sheet management, investment banking, and capital markets services. Our recent successes include:

  • Revere Bank (MD)* $65.1 million proposed acquisition of Monument Bank (MD)
  • DNB Financial Corporation (PA) $49.0 million proposed acquisition of East River Bank (PA)
  • Merchants and Manufacturers Bank Corporation (IL) $4.0 million private placement of subordinated debt
  • Riverview Financial Corporation (PA) $7.8 million acquisition of Citizens National Bank of Meyersdale (PA)
  • Eagle National Bancorp, Inc. (PA) $25.3 million acquisition by ESSA Bancorp, Inc. (PA)
  • Old Line Bancshares, Inc. (MD) $6.6 million acquisition of Regal Bancorp, Inc. (MD)
  • Juniata Valley Financial Corporation (PA) $13.2 million acquisition of FNBPA Bancorp, Inc. (PA)
  • Woodsboro Bank (MD) proposed consolidation with Middletown Valley Bank (MD)
  • Kinderhook Bank Corp. (NY) $10 million private placement of subordinated debt
  • Oconomowoc Bancshares, Inc. (WI) $12 million private placement of subordinated debt
  • Pathfinder Bancorp, Inc. (NY) $10 million subordinated loan agreement
  • Nicolet Bankshares, Inc. (WI) $12 million private placement of subordinated debt

*Ambassador provided a fairness opinion only.

This announcement is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy securities.

Contact Information

  • David G. Danielson
    Head of Investment Banking
    240.242.4083
    Email Contact

    Matthew T. Resch, CFA
    Managing Principal
    610.351.1633
    Email Contact

    Robert J. Pachence Jr.
    Managing Principal
    610.351.1633
    Email Contact

    John D. Putman
    Senior Vice President
    240.242.4083
    Email Contact