Louisiana-based Investar Bank proceeds with acquisition of Cheaha Bank bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
Investar acquiring Alabama-based Cheaha Bank
We are glad you enjoy reading Business Report.
Continue reading this story and get ACCESS to all our content from any device with a subscription now.
Investar Bank’s $41.1 million deal to buy Alabama-based Cheaha Financial Group back on
Updated Jan 25, 2021;
By Kristen Mosbrucker The Advocate, Baton Rouge, La. (TNS) and Tribune Media Services
The parent company of Investar Bank signed a new deal to acquire Alabama-based Cheaha Financial Group for $41.1 million after a previous agreement fell through in late June.
At the time, Investar Bank cited unpredictable economic conditions caused by the coronavirus pandemic.
Since then, a new deal between Oxford, Alabama-based Cheaha Bank and Investar has been signed and is expected to close by second quarter 2021.
Shareholders of Cheaha Bank are expected to receive $80 in cash for each of their shares.