SPRINGFIELD, Mo.–(GLOBE NEWSWIRE)–Springfield, Missouri-based Guaranty Federal Bancshares, Inc. (“Guaranty”) (Nasdaq:GFED) and Carthage, Missouri-based Hometown Bancshares, Inc. (“Hometown”) jointly announced today that they have executed a definitive Agreement and Plan of Merger providing for the merger of Hometown with and into Guaranty.
Under the terms of the definitive merger agreement, each share of Hometown common stock will receive $20.00 in cash. The transaction is valued at approximately $4.6 million.
Hometown is the holding company for Hometown Bank. Hometown Bank has assets of approximately $183 million, loans of $150 million and deposits of $159 million as of September 30, 2017. Following consummation of the merger, Guaranty will have approximately $950 million in assets with 18 branch banking offices located in Missouri.