- American City Business Journals•3 hours ago
The person who might be most responsible for the pending merger between Middleburg Bank and Reston-based Access National Bank (ANCX) is not on the management team of either company. Former Berkshire Hathaway executive David Sokol, who owns a 30 percent stake in Middleburg Financial Corp. (MBRG), had publicly demanded the sale of the Middleburg-based bank amid what he saw as a disappointing financial performance — and it seems to have paid off. The $233.1 million all-stock deal was accompanied by a press release featuring the predictable and upbeat quotes from Middleburg Bank CEO Gary Shook, as well as Access National Bank CEO Mike Clarke and Chairman Michael Anzilotti — and the rarity of a comment from Sokol himself.
- Business Wire•yesterday
Access National Corporation and Middleburg Financial Corporation today announced the signing of a definitive agreement to combine in a strategic merger.
- PR Newswire•yesterday
RESTON, Va. and MIDDLEBURG, Va., Oct. 24, 2016 /PRNewswire/ -- Access National Corporation (ANCX) ("Access National") and Middleburg Financial Corporation (MBRG) ("Middleburg") today announced the signing of a definitive agreement to combine in a strategic merger. The combination creates Virginia's premier bank, with enhanced scale, improved efficiency and a well-diversified business model. Under the terms of the merger agreement, which was unanimously approved by the Boards of Directors of both companies, Middleburg shareholders will receive a fixed exchange ratio of 1.3314 Access National shares for each share of Middleburg common stock owned.
Middleburg Financial Corporation (MBRG)
NasdaqCM - NasdaqCM Real Time Price. Currency in USD
|Bid||30.51 x 200|
|Ask||30.60 x 500|
|Day's Range||30.50 - 30.85|
|52wk Range||17.62 - 33.44|
|1y Target Est||N/A|
Trade prices are not sourced from all markets
|P/E Ratio (ttm)||28.05|
|Avg Vol (3m)||8,783|
|Dividend & Yield||0.52 (1.88%)|