BYL Bancorp Approves Takeover by First Banks
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BYL Bancorp said Friday that its shareholders voted to approve the Orange institution’s acquisition by First Banks America Inc. for $18.50 a share, or $52 million.
The transaction, which is subject to regulatory approval, is expected to be completed during the fourth quarter, BYL said.
First Banks, owner of First Bank & Trust, is based in Clayton, Mo.
BYL’s stock last traded Thursday at $18.15 a share on Nasdaq. First Banks shares closed Friday at $30.65, up 75 cents, on the New York Stock Exchange.
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