BMTX will pay up to USD 7.22 in cash for each share of FSB common stock or approximately USD 23 million in aggregate consideration, subject to certain closing conditions and adjustments as outlined in the definitive agreement.
The combined company, to be named BMTX Bank, will be a fintech-based bank focused on serving customers digitally nationwide, supported by its community banking division that is expected to continue serving the greater Seattle market. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the second half of 2022.
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