Ambassador Announces Two Transactions

Ambassador Announces Two Transactions on July 3rd
FNBM Financial Corporation’s Sale to GNB
Financial Services, Inc.
Sturdy Savings Bank’s Purchase of 7
Branches from Sun Bancorp, Inc.
Allentown, PA, July 3, 2014 – Ambassador Financial
Group, Inc. is pleased to announce that it has acted as
financial advisor and provided a fairness opinion to FNBM
Financial Corporation, in regards to its agreement to sell
the Company to GNB Financial Services Inc. for $13.4
million in a mix of cash and stock. The announced deal
value was approximately 119% of FNBM Financial
Corporation’s tangible book value. The transaction is
expected to close in the first quarter of 2015, subject to
customary closing conditions.
Allentown, PA, July 3, 2014 – Ambassador Financial
Group, Inc. is pleased to announce that it has acted as
financial advisor to Sturdy Savings Bank, in regards to its
agreement to purchase 7 branches from Sun Bancorp, Inc.
These branches include $182 million in deposits and $64
million in loans. The transaction is expected to close in the
third quarter of 2014, subject to customary closing
conditions.
FNBM Financial Corporation is headquartered in
Minersville, Pennsylvania. Its primary subsidiary, First
National Bank of Minersville, had assets of $81 million as
of March 31, 2014. FNBM Financial Corporation operates
one banking office in Schuylkill County. GNB Financial
Services, Inc. is headquartered in Gratz, Pennsylvania and
had assets of $206 million as of March 31, 2014. Its
primary subsidiary, Gratz Bank, operates five full service
banking offices in Dauphin, Northumberland, and
Schuylkill counties.
Sturdy Savings Bank, headquartered in Cape May Court
House, New Jersey, had assets of $564 million as of March
31, 2014. Sturdy Savings Bank currently operates nine
banking offices in Cape May County, and branch purchases
from Sun Bancorp will expand its current presence in Cape
May County and expand into Atlantic County, New Jersey.
Sun Bancorp, Inc. is headquartered in Vineland, New
Jersey and had assets of $3.0 billion as of March 31, 2014.
These are Ambassador Financial Group’s fourteenth and fifteenth transactions announced since 2011. These transactions
include whole bank acquisitions, branch sales and acquisitions of fee businesses:
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David Danielson
240.242.4083
Farmers and Merchants Bancorp of Western Pennsylvania’s (PA) merger with Nextier Inc. (PA).
First Choice Bank’s (NJ) acquisition of Vantage Point Bank (PA).
ESSA Bancorp’s (PA) branch acquisition from First National Community Bancorp (PA).
Franklin Security Bancorp’s (PA) $15.7 million sale to ESSA Bancorp (PA).
Haven Bancorp’s (NJ) $27 million acquisition of Hilltop Community Bancorp, Inc. (NJ).
Riverview Financial Corporation’s (PA) consolidation of Union Bank and Trust Company (PA).
MVB Financial’s (WV) $30 million purchase and assumption agreement with CFG Community Bank (MD).
Old Line Bancorp’s (MD) $49 million acquisition of WSB Holdings (MD).
NBT Bancorp’s (NY) $233 million acquisition of Alliance Financial Corporation (NY).
MVB Financial Corporation’s (WV) $19 million acquisition of Potomac Mortgage Group, LLC (VA).
ESSA Bancorp’s (PA) $24 million acquisition of First Star Bancorp (PA).
Capital Bank’s (MD) branch sale to DNB First, NA (PA).
Canandaigua National Corporation’s (NY) acquisition of OBS Holdings (NY).
Mike Rasmussen
610.351.1633
John Putman
240.242.4083
Chris Donahue
240.242.4083

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