PB Bancorp and Centreville Bank Announce Merger

PB Bancorp, Inc. (PBBI) and Centreville Bank, a Rhode Island-chartered savings bank, announced a merger agreement on October 22. The estimated value of the transaction is $114.5 million. PB Bancorp shareholders will receive $15.25 per share in cash. The merger will close in the first half of 2020.

 

Sonal issued an alert to subscribers at 4:15 pm. PBBI closed at $11.55 on October 22 and jumped higher into the market open the next day. PBBI closed at $15.06 on October 23 for an event day gain of 30.4%.

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