FT. DODGE, Iowa, May 23, 2012 /PRNewswire/ -- North Central
Bancshares, Inc. (NASDAQ: FFFD) ("North Central") has announced
that, at a special meeting of shareholders held earlier today, its
shareholders voted to adopt a proposal approving its Agreement and
Plan of Merger (the "Merger Agreement") with Great Western
Bancorporation, Inc. ("Great Western") and 150, Inc. ("150"), under
which 150 will merge with and into North Central (the
"Merger"). North Central's shareholders also voted to adopt a
non-binding proposal to approve the compensation that may be paid
or become payable to North Central's named executive officers in
connection with the Merger.
Under the terms of the Merger Agreement, each issued and
outstanding share of common stock of North Central immediately
prior to the effective time of the Merger will be converted into
the right to receive $30.58 per
share, in cash and without interest and subject to any applicable
withholding, representing an approximate premium of 39% over the
share closing price on March 12,
2012, the date of entry into the Merger Agreement.
North Central and Great Western anticipate that the Merger will be
completed in the summer of 2012, subject to the satisfaction of
remaining closing conditions.
About North Central Bancshares, Inc. and First Federal
Savings Bank of Iowa
North Central serves north central, central and southeastern
Iowa at eleven full service
locations in Fort Dodge,
Nevada, Ames, Perry,
Ankeny, Clive, West Des
Moines, Burlington, and
Mount Pleasant, Iowa through its
wholly-owned subsidiary, First Federal Savings Bank of Iowa ("First Federal"), headquartered in
Fort Dodge, Iowa.
First Federal's deposits are insured by the Federal Deposit
Insurance Corporation up to the fullest extent permitted by
law.
Caution about Forward-Looking and other
Statements
This press release may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements are statements that
include projections, predictions, expectations, or beliefs about
future events, such as statements about the anticipated
closing date of the Merger. Although we believe that
forward-looking statements are based upon reasonable assumptions,
there can be no assurance that actual results, performance or
achievements of North Central will not differ materially from any
results expressed or implied by such forward-looking statements or
that North Central will be able to close on the Merger by the
anticipated closing date. Such forward-looking statements are
subject to risks and uncertainties, that could cause actual events
or results to differ materially from those described in the
forward-looking statements and include, but are not limited to, the
risk that regulatory approvals or non-objections will not be
obtained and those risks described in the cautionary language
included under the headings "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" in North Central's Annual Report on Form 10-K for the
fiscal year ended December 31, 2011, Quarterly Report on Form
10-Q for the quarter ended March 31,
2012 and other filings made with the Securities and Exchange
Commission.
SOURCE North Central Bancshares, Inc.
