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Friday, January 19, 2018

Equity Corporate Actions Alert #2018 - 11
Information Regarding the Merger of Paragon Commercial Corporation (PBNC)

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  • Industry Announcement

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At a special meeting on January 10, 2018, shareholders of Paragon Commercial Corporation (PBNC) approved a merger with Towne Bank (TOWN). The merger is expected to close on Friday, January 26, 2018. The details are as follows:

Company: Paragon Commercial Corporation
Issue: Common Stock
CUSIP#: 69911U403
Symbol: PBNC
Anticipated Marketplace Effective Date for Suspension: January 29, 2018
Merger Consideration: 1.725 shares of TOWN for each share held.

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