LAKEWOOD, 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.
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.
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and Deal Manager for the Tender Offer, a total of 3,136,650 Shares have been validly tendered and not properly withdrawn.
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.
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.
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 accompanying materials. Shareholders should read such Offer to Purchase and related materials carefully and in their entirety because they contain important information, including the various terms and conditions of the tender offer.
This press release contains "forward-looking statements". Forward-looking statements contain words such as "anticipate," "believe," "can," "would," "should," "could," "may," "predict," "seek," "potential," "will," "estimate," "target," "plan," "project," "continuing," "ongoing," "expect," "intend" or similar expressions that relate to the Company's strategy, plans or intentions. Forward-looking statements involve certain important risks, uncertainties and other factors, any of which could cause actual results to differ materially from those in such statements. Such factors include, without limitation, the "Risk Factors" referenced in the Offer to Purchase and the following additional factors: ability to execute our business strategy; business and economic conditions; economic, market, operational, liquidity, credit and interest rate risks associated with the Company's business; effects of any changes in trade, monetary and fiscal policies and laws; effects of inflation as well as interest rate, securities market and monetary supply fluctuations; changes in consumer spending, borrowings and savings habits; the Company's ability to achieve organic loan and deposit growth and the composition of such growth; changes in sources and uses of funds; increased competition in the financial services industry; the effect of changes in accounting policies and practices; the share price of the Company's stock; ability to maintain or increase market share and control expenses; costs and effects of changes in laws and regulations and of other legal and regulatory developments; technological changes; the timely development and acceptance of new products and services; ability to implement or improve operational management and other internal risk controls and processes and reporting system and procedures; changes in estimates of future loan reserve requirements based upon the periodic review thereof under relevant regulatory and accounting requirements; widespread natural and other disasters, dislocations, political instability, acts of war or terrorist activities, cyberattacks or international hostilities; impact of reputational risk; and success at managing the risks involved in the foregoing items. The Company can give no assurance that any goal or plan or expectation set forth in forward-looking statements can be achieved and readers are cautioned not to place undue reliance on such statements. The forward-looking statements are made as of the date of this press release, and the Company does not intend, and assumes no obligation, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events or circumstances, except as required by applicable law.
Press Contact:
Donald Mindiak
First Commerce Bancorp, Inc.
Lakewood, NJ 08701
(732) 364-0032
dmindiak@firstcommercebk.com
http://firstcommercebk.com
SOURCE: First Commerce Bancorp, Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/first-commerce-bancorp-inc.-announces-results-of-tender-offer-for-it-1143427
