Business
First Commerce Bancorp, Inc. Announces Results of Tender Offer for its Common Stock
First Commerce Bancorp, Inc. Announces Results of Tender Offer for its Common Stock.
About this update from First Commerce Bancorp Inc.
[{"type":"text","content":"\r\n\r\n \r\n \r\n First Commerce Bancorp, Inc. Announces Results of Tender Offer for its Common Stock\r\n \r\n \r\n\r\n\r\nFirst Commerce Bancorp, Inc. Announces Results of Tender Offer for its Common Stock\r\n\r\n\r\n\r\n\r\n\r\nLAKEWOOD, NJ / ACCESS Newswire / March 3, 2026 / First Commerce Bancorp, Inc., (OTCID:CMRB) (the \"Company\") today announced the final results of its previously initiated tender offer to repurchase up to 3,000,000 shares of the Company's common stock (\"Shares\") at a purchase price of $7.00 per Share (the \"Tender Offer\"). The conclusion of the Tender Offer expired with the close of business on Friday, February 27, 2026, at 5:00 P.M. EST.\r\n Performance Trust Capital Partners, LLC, served as Deal Manager for the Tender Offer. Computershare, Inc. served as the Depositary for the Tender Offer while Georgeson, LLC acted as the Company's Information Agent for the Tender Offer.\r\n Based on the final count by the Depository and Deal Manager for the Tender Offer, a total of 3,136,650 Shares have been validly tendered and not properly withdrawn.\r\n In accordance with the terms and conditions of the Offer to Purchase dated January 28, 2026 (the \"Offer to Purchase\"), the Company accepted for purchase a total of 3,000,000 Shares, for an aggregate purchase price of approximately $21.0 million excluding fees and expenses related to the Tender Offer. Since more than 3,000,000 Shares were tendered in the Tender Offer, Shares were accepted for purchase on a pro rata basis. The Company has been informed by the Depository that the final proration factor for the Tender Offer is approximately 95.58679%. The Shares purchased represent approximately 15% of the Company's outstanding Shares as of February 27, 2026.\r\n The Depositary will promptly pay for all Shares accepted for purchase pursuant to the Tender Offer using the Company's existing cash and cash equivalents and return all other Shares tendered and not purchased.\r\n This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an acceptance of securities. No offer, solicitation, purchase, or sale will be made in any jurisdiction in which such offer, solicitation, or sale would be unlawful. The Tender Offer is being made solely pursuant to the terms and conditions set forth in the Offer to Purchase and acco...