Looks like they don't have much of a choice. Extremely tight regulations have made banking a difficult business and maybe the owners don't see potential growth justifying the regulatory risk. Frankly, it's just business. Unfortunately, the people who usually suffer in these cases are the employees as there will likely be broad based job shedding with the bidder consolidating locations and overlapping departments.
That is because you are very close to fair value in an environment where there is no premium to own another bank that has too much money and no one to lend it to profitably.
This is the biggest signal yet that the smart money sees banking as an inferior business model for the next ten years. There is simply no way to make the kind of returns in banking that happened in the past.