State Bank Corp. (OTCPK:SBAZ) signed a definitive merger agreement to acquire Country Bank (Prescott, AZ) for $33.16 million on February 16, 2016. Under the terms of the agreement, holders of Country Bank common stock will receive approximately $2,258.41 per share of Country Bank common stock, and may elect to receive this payment in shares of State Bank Corp. common stock or in cash, or a combination thereof, subject to proration so that 50% of the total payment will be in State Bank Corp. common stock and 50% of the total payment will be in cash. Upon completion of the transaction, two board members from Country Bank will join the Board of Directors of State Bank Corp. and Mohave State Bank. The transaction is subject to approval by the Board of Directors of State Bank Corp. and County Bank, shareholders of State Bank Corp. and County Bank and bank regulatory agencies. As on February 1, 2016, the transaction was unanimously approved by the Board of Directors of State Bank Corp. and County Bank. As on June 15, 2016, all necessary shareholder and regulatory approvals have been received for the merger. D.A. Davidson & Co. served as financial advisor and issued a fairness opinion to State Bank Corp. Sheppard Mullin Richter & Hampton LLP acted as legal advisor to State Bank Corp. Vining Sparks IBG, LP acted as financial advisor and issued a fairness opinion to Country Bank. Lindquist & Vennum LLP acted as legal advisor to Country Bank. State Bank Corp. (OTCPK:SBAZ) completed the acquisition of Country Bank (Prescott, AZ) on July 31, 2016.