MergerMay 5, 2026, 04:39 PM
First Seacoast Bancorp to Merge with Cambridge Financial for $80.9M
AI Summary
First Seacoast Bancorp, Inc. and Cambridge Financial Group, Inc. announced a definitive merger agreement. Under the terms, First Seacoast Bancorp will merge with Cambridge Financial, and First Seacoast Bank will merge with Cambridge Savings Bank. First Seacoast Bancorp stockholders will receive $17.25 in cash per share, valuing the all-cash transaction at approximately $80.9 million. The merger is subject to regulatory and stockholder approval and is expected to close in the third quarter of 2026.
Key Highlights
- First Seacoast Bancorp to merge with Cambridge Financial Group, Inc.
- First Seacoast Bank will merge with Cambridge Savings Bank.
- First Seacoast Bancorp stockholders will receive $17.25 in cash per share.
- The all-cash transaction is valued at approximately $80.9 million.
- The merger is expected to close in the third quarter of 2026.
- First Seacoast Bancorp agreed to pay a $3.5 million termination fee under specified circumstances.
- Directors and executive officers of First Seacoast Bancorp entered voting agreements in favor of the merger.
- Keefe, Bruyette & Woods served as financial advisor to First Seacoast Bancorp.