Smithtown Bancorp Merger Approved
November 19 2010 - 11:15AM
Marketwired
The shareholders of Smithtown Bancorp (NASDAQ: SMTB) have approved
the Company's plan to merge with People's United Financial, Inc.,
of Bridgeport, Connecticut. More than 96% of the votes cast were in
favor of the merger.
The merger transaction has also received all necessary
regulatory approvals. The parties expect the merger to be completed
on November 30, 2010.
Forward-Looking Statements
Certain statements contained in this release that are not
statements of historical fact constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995 (the "Act"), notwithstanding that such statements are not
specifically identified as such. In addition, certain statements
may be contained in our future filings with the Securities and
Exchange Commission, in press releases, and in oral and written
statements made by us or with our approval that are not statements
of historical fact and constitute forward-looking statements within
the meaning of the Act. Examples of forward-looking statements
include, but are not limited to: (i) projections of revenues,
expenses, income or loss, earnings or loss per share, the payment
or nonpayment of dividends, capital structure and other financial
items; (ii) statements of our plans, objectives and expectations or
those of our management or Board of Directors, including those
relating to products or services; (iii) statements of future
economic performance; and (iv) statements of assumptions underlying
such statements. Words such as "believes," "anticipates,"
"expects," "intends," "targeted," "continue," "remain," "will,"
"should," "may" and other similar expressions are intended to
identify forward-looking statements but are not the exclusive means
of identifying such statements.
Forward-looking statements involve risks and uncertainties that
may cause actual results to differ materially from those in such
statements. Factors that could cause actual results to differ from
those discussed in the forward-looking statements include, but are
not limited to: local, regional, national and international
economic conditions and the impact they may have on us and our
customers and our assessment of that impact, changes in the level
of non-performing assets and charge-offs; changes in estimates of
future reserve requirements based upon the periodic review thereof
under relevant regulatory and accounting requirements; the effects
of and changes in trade and monetary and fiscal policies and laws,
including the interest rate policies of the Federal Reserve Board;
inflation, interest rate, securities market and monetary
fluctuations; political instability; acts of war or terrorism; the
timely development and acceptance of new products and services and
perceived overall value of these products and services by users;
changes in consumer spending, borrowings and savings habits;
changes in the financial performance and/or condition of our
borrowers; technological changes; acquisitions and integration of
acquired businesses; the ability to increase market share and
control expenses; changes in the competitive environment among
financial holding companies and other financial service providers;
the quality and composition of our loan or investment portfolio;
the effect of changes in laws and regulations (including laws and
regulations concerning taxes, banking, securities and insurance)
with which we and our subsidiaries must comply; the effect of
changes in accounting policies and practices, as may be adopted by
the regulatory agencies, as well as the Public Company Accounting
Oversight Board, the Financial Accounting Standards Board and other
accounting standard setters; changes in our organization,
compensation and benefit plans; the costs and effects of legal and
regulatory developments, including the resolution of legal
proceedings or regulatory or other governmental inquiries and the
results of regulatory examinations or reviews; greater than
expected costs or difficulties related to the opening of new branch
offices or the integration of new products and lines of business,
or both; and/or our success at managing the risk involved in the
foregoing items.
Forward-looking statements speak only as of the date on which
such statements are made. We undertake no obligation to update any
forward-looking statement to reflect events or circumstances after
the date on which such statement is made, or to reflect the
occurrence of unanticipated events.
Contact: Ms. Judith Barber Corporate Secretary Corporate
Headquarters 100 Motor Parkway, Suite 160 Hauppauge, NY
11788-5138 Direct Dial: 631-360-9304 Direct Fax: 631-360-9380
brock@bankofsmithtown.net
Smithtown Bancorp (MM) (NASDAQ:SMTB)
Historical Stock Chart
From Sep 2024 to Oct 2024
Smithtown Bancorp (MM) (NASDAQ:SMTB)
Historical Stock Chart
From Oct 2023 to Oct 2024