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BCB Bancorp discloses additional details in IA Bancorp deal

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BCB Bancorp discloses additional details in IA Bancorp deal

Bayonne, N.J.-based BCB Bancorp Inc. expects to issue approximately 632,000 new shares of its common stock and to pay cash in the amount of approximately $2.5 million in order to consummate the holding company merger in relation to its pending deal with Edison, N.J.-based IA Bancorp Inc., according to a filing recently obtained by S&P Global Market Intelligence.

The holding company merger is valued at $2.96 per share or roughly $12.4 million in aggregate — cash payment included — based on BCB's June 7, 2017, closing price of $15.65 per share.