Capital Funding Bancorp, Inc. and AmericasBank Corp. (AMAB.PK), the parent company of AmericasBank, a Maryland-chartered commercial bank with three branches, announced last week that they have entered into a definitive merger agreement. Under the terms of the agreement, AmericasBank Corp. will be acquired by Capital Funding Bancorp, Inc. in a cash transaction to AmericasBank Corp. shareholders. Capital Funding Group, founded in 1993, is a full-service provider of financing solutions for health care facilities nationwide, focusing exclusively on the long-term care, assisted living and hospital sectors.
The agreement has been approved by each company’s board of directors and is subject to AmericasBank shareholder and regulatory approval. The deal is expected to close in the second quarter of 2009.
“We are excited to grow AmericasBank into a leading community lender, and a thriving commercial bank with national expertise in health care,” commented Jack Dwyer, chairman and owner of Capital Funding Bancorp, Inc. “We also see AmericasBank as an excellent platform for continuing to grow the success of Capital Funding Group’s health care related mortgage loans and working capital financing programs.”
