IDBCQ Stock UPDATES Idaho Bancorp [Id] (IDBCQ) 0.0500 09/16/2014
Post# of 273333
Posted On: 09/16/2014 3:49:19 PM
Idaho Bancorp [Id] (IDBCQ) 0.0500 $IDBCQ
Banner Announces Termination of Purchase Agreement With Idaho Banking Company
GlobeNewswire - Mon Jun 30, 3:00PM CDT
Banner Corporation (Nasdaq:BANR), the parent company of Banner Bank and Islanders Bank, announced today that it has terminated its agreement to acquire Idaho Banking Company ("Idaho Banking"
through the bidding process under Section 363 of Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the District of Idaho ("Bankruptcy Court" . Banner proposed to purchase all of the issued and outstanding shares of Idaho Banking pursuant to an Asset Purchase Agreement ("Agreement" it had entered into with Idaho Bancorp ("Idaho Bancorp" , the bank holding company of Idaho Banking, on April 24, 2014. In connection with the June 26, 2014 Court-supervised auction process, as contemplated by the Agreement, Idaho Banking received the highest offer from another bidder. Accordingly, the Agreement has been terminated. Under the terms of the Agreement, consummation of the acquisition was subject to the Bankruptcy Court entering a final sale order with Banner for the purchase of all of the issued and outstanding shares of Idaho Banking.
Banner Announces Termination of Purchase Agreement With Idaho Banking Company
GlobeNewswire - Mon Jun 30, 3:00PM CDT
Banner Corporation (Nasdaq:BANR), the parent company of Banner Bank and Islanders Bank, announced today that it has terminated its agreement to acquire Idaho Banking Company ("Idaho Banking"
through the bidding process under Section 363 of Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the District of Idaho ("Bankruptcy Court" . Banner proposed to purchase all of the issued and outstanding shares of Idaho Banking pursuant to an Asset Purchase Agreement ("Agreement" it had entered into with Idaho Bancorp ("Idaho Bancorp" , the bank holding company of Idaho Banking, on April 24, 2014. In connection with the June 26, 2014 Court-supervised auction process, as contemplated by the Agreement, Idaho Banking received the highest offer from another bidder. Accordingly, the Agreement has been terminated. Under the terms of the Agreement, consummation of the acquisition was subject to the Bankruptcy Court entering a final sale order with Banner for the purchase of all of the issued and outstanding shares of Idaho Banking. 
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