First Citizens, Futura Banc set November meeting dates for shareholder vote on merger

By Lisa Kerner

Charlotte, N.C., Sept. 28 - First Citizens Banc Corp. and Futura Banc Corp. have scheduled special meetings of their stockholders for the purpose of voting on the merger of the two companies.

Futura shareholders will vote at noon ET on Nov. 5, and First Citizens shareholders will vote at 10 a.m. ET on Nov. 19.

The meetings were announced in a form 424B3 filing with the Securities and Exchange Commission.

Under the June 7 merger agreement, Futura shareholders may elect to receive $23 cash per share, 1.1726 shares of First Citizens common shares, or a combination of cash and stock. The transaction is valued at $63 million, according to a company news release.

Futura will merge with and into First Citizens, with First Citizens as the surviving entity. Champaign Bank, a wholly owned banking subsidiary of Futura, will be merged with and into Citizens Bank, a wholly owned banking subsidiary of First Citizens, with Citizens Bank surviving the merger.

Futura is a community focused bank holding company located in Urbana, Ohio. First Citizens, based in Sandusky, Ohio, conducts business through its banking subsidiary, the Citizens Banking Co.

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