TAMPA, FL., August 9, 2022 – First Citrus Bancorporation, Inc. (OTC Markets: FCIT), the parent bank holding company for First Citrus Bank, announced that its shareholders approved the DFCU Financial all-cash transaction on Thursday, August 4, 2022. Subject to the terms of the agreement, shareholders of FCB will receive $47.75 in cash for each share owned. DFCU will also cash out the outstanding options at FCB at the difference between the strike price and the per share cash consideration to FCB shareholders.
“It’s no surprise that shareholders overwhelmingly approved our merger because DFCU Financial is such a quality organization. This merger is quite good for our shareholders, many of whom are First Citrus bankers and clients,” said John M. Barrett, President and Chief Executive Officer.