Nmb Finl (NMBF) Stock News

NMB Financial Corporation (OTC Pink: NMBF) announced a Letter of Intent to acquire Noah Bank for cash at 100% of Noah's tangible common equity as of March 31, 2022. The acquisition is valued at approximately $6.95 per share, pending due diligence and transaction expenses. NMB is also set to receive $75.1 million through the US Department of Treasury's Emergency Capital Investment Program to support its growth, especially in lending to minority-owned businesses. This acquisition aims to enhance NMB's assets to around $1 billion, expanding its banking presence into Pennsylvania.