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Community Bancorp and Quarry City Savings and Loan Association have received regulatory and shareholder approvals for their merger, set to finalize on September 23, 2022. Shareholders of Quarry City will receive $25.36 per share in cash, with payments expected to start on September 26, 2022. The merger aims to strengthen Community’s market presence, leveraging Quarry City’s established operations in Warrensburg, Missouri. The transaction highlights the strategic alignment of both entities to enhance service offerings across Kansas, Missouri, and Oklahoma.
Quarry City Savings and Loan Association (OTC Pink: QRRY) announced that on or about May 13, 2022, its common stock will be moved from the OTC Pink Marketplace to the OTC Expert Market, resulting in no publicly available quotes. This follows a definitive merger agreement with Community Bancorp, which is expected to provide an all-cash aggregate consideration of approximately $10.37 million, translating to an estimated $25.42 per share for Quarry City shareholders, although this amount may vary. The merger is anticipated to close in Q3 2022, pending necessary approvals.
Community Bancorp has announced a definitive agreement to acquire Quarry City Savings and Loan Association for approximately $10.37 million. The transaction will provide an estimated cash consideration of $25.42 per share to Quarry City shareholders, though this may vary based on transaction costs. Quarry City reported total assets of $71.3 million and equity capital of $9.6 million as of December 31, 2021. The merger aims to enhance service offerings and maintain Quarry City's Warrensburg office. The deal is expected to close in Q3 2022, pending regulatory approvals.
