LEAWOOD, Kan., March 13 /PRNewswire/ -- Gold Banc, (Nasdaq: GLDB), one of
the country's fastest growing community banking and financial services
companies, and American Bancshares, Inc., Bradenton, Florida (Nasdaq: ABAN)
today announced that their respective shareholders have each approved the
acquisition of American by Gold. At Gold's closing stock price of $7.00 per
share on March 10, 2000, the transaction is worth $11.57 per share, with
American shareholders receiving a fixed exchange of 1.6527 shares of Gold Banc
common stock for each American share.
Although American Bancshares had a right to terminate the transaction if
the floor price of Gold Banc common stock was below $9.25 per share, the Board
of Directors of American Bancshares met today and decided that it was in the
best interest of its shareholders to waive this option.
Closing of the transaction is expected to occur early next week. Further
information on the transaction will be forthcoming.
Safe Harbor Statement
This news release contains comments or information that constitute
forward-looking statements (within the meaning of the Private Securities
Litigation Reform Act of 1995), which involve significant risks and
uncertainties. Actual results may differ materially from the results
discussed in the forward-looking statements. Factors that might cause such a
difference include, but are not limited to: (1) expected cost savings from
acquisitions cannot be fully realized or realized within the expected time
frame; (2) revenues following the merger are lower than expected; (3)
competitive pressures among depository institutions increase significantly;
(4) costs or difficulties related to the integration of the business of the
organizations are greater than expected; (5) changes in the interest rate
environment reduce interest margins; (6) general economic conditions, either
nationally or in states in which the combined company will be doing business,
are less favorable than expected; and (7) legislation or regulatory changes
adversely affect the businesses in which the combined company would be
engaged.
For more information on Gold Banc toll-free via fax, simply dial
1-800-PRO-INFO, follow the voice menu prompts and enter the company code
"GLDB" on any touch tone phone, or visit the Gold Banc page on FRB's website
at http://www.frbinc.com .
Visit Gold Banc at http://www.goldbanc.com .
SOURCE Gold Banc Corporation, Inc.
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Related links:
http://www.goldbanc.com
CONTACT:
Malcolm M. Aslin, President,
micka@goldbanc.com, or Keith E. Bouchey, EVP - M&A,
keithb@goldbanc.com, both of Gold Banc Corporation, Inc.,
913-451-8050, or Jerry L. Neff, President and CEO of American
Bancshares, 941-795-3050, or jerryneff@ambankfl.com, or General
Information, Todd Tarbox, 312-640-6742, or tttarbox@frb.bsmg.com,
or Media Inquiries, Joyce Hanson, 606-272-7322, or
hanson2000@aol.com, both of The Financial Relations Board- BSMG
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