Miners Exchange Bank sale to close in Q2
In a Jan. 8 letter to shareholders, Miners Exchange Bank (MEB) President and CEO Charles Ward announced the bank is selling all outstanding shares to Salvosa Group, of Winston-Salem, NC for $49.87 per share in cash. Salvosa will become the bank’s parent holding company. The transaction is unanimously supported by the MEB board, Ward said. Ward told shareholders the transaction would close sometime in Q2, an ...
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