1st Constitution Bancorp will pay 0.1309 common share for each share of New Jersey Community Bank stock, based on the Cranbury, N.J.-based buyer's average closing price of $19.25.
The exchange ratio was originally estimated at 0.1333, subject to adjustment. Cash will be paid in lieu of fractional shares, and the cash portion of the consideration is still $1.60 per New Jersey Community share.
Regulators have already approved the acquisition; New Jersey Community shareholders will vote on it March 22. The merger is expected to close in the second quarter.