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Investar Holding (ISTR) introduced the completion of its acquisition of Wichita Falls Bancshares. An Settlement and Plan of Merger referring to the acquisition was beforehand introduced in July. The acquisition grew to become efficient as of January 1. All the issued and excellent shares of Wichita Falls frequent inventory have been transformed into combination merger consideration consisting of $7.2M in money and three,955,334 shares of Firm frequent inventory for an combination transaction worth of roughly $112.9M. This worth is predicated on the Firm’s closing inventory worth on December 31, of $26.72 per frequent share. Moreover, David Flack and James Dunkerley, two former administrators of Wichita Falls and FNB, have been appointed to the Board of Administrators of the Firm and the Financial institution upon completion of the acquisition.
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