The all-cash transaction is subjected to shareholder and regulatory approval and is expected to close in the first quarter of 2008. The purchase price is subject to adjustment if Community First Bancorp’s tangible equity is less than $2 million at closing.
The transaction will allow Hancock to expand its financial services and product offerings to new and current customers within Madisonville and the surrounding areas and provides the customers of both institutions more locations and services for their banking needs.
