ALAMOGORDO, N.M., Aug. 29, 2014 /PRNewswire/ -- Alamogordo
Financial Corp. (OTCQB: ALMG), the parent company of BANK'34, today
announced that it has completed its merger with Bank 1440.
Shareholders of Bank 1440 are entitled to receive
$0.94 in cash and 0.17064 shares of
Alamogordo Financial Corp. common stock for each share of Bank 1440
common stock that they owned as of the close of business on
August 29, 2014. Cash will also
be paid in lieu of fractional shares at a rate of $16.00 per whole share of Alamogordo Financial
Corp. common stock (the average closing price of Alamogordo
Financial Corp. common stock for the 10 business days preceding
August 26, 2014). Bank 1440
stockholders will be receiving letters of transmittal from
Computershare, who is Alamogordo Financial Corp.'s transfer agent,
providing instructions for how to submit their stock certificates
for the cash and shares of Alamogordo Financial Corp. common stock,
and also providing instructions for a shareholder who has lost his
or her Bank 1440 stock certificates.
Jill Gutierrez, President and
Chief Executive Officer of Alamogordo Financial Corp. said, "The
foundation of this merger has been, and will continue to be, the
commitment to create a strategic union based on complementary
strengths. We have just inked a uniquely refreshing banking story
around the blending of two banks, the next exciting chapters of
which will now be unleashed for shareholders, customers, employees
and communities of both franchises."
Brian Ruisinger, Chief Executive
Officer of Bank 1440, added, "The synergies created by this unique
combination are compelling for all stakeholders. Throughout the
process, we continually reminded ourselves to think differently
from traditional banking norms to create a platform poised for
growth and continued stability following 80 years of operations of
the BANK'34 franchise."
About Alamogordo Financial Corp.
Alamogordo Financial Corp. is the holding company for
BANK'34. BANK'34 was formed in 1934 and is a full-service,
community-oriented savings bank that provides financial services to
individuals, families and businesses from its full-service
facilities located in Alamogordo
and Las Cruces, New Mexico and
Phoenix and Peoria, Arizona, and its loan production
office in Scottsdale, Arizona. For
more information about BANK'34 please visit www.Bank34.com.
Forward-Looking Statements: This release may contain
certain "forward looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, and may be
identified by the use of such words as "may," "believe," "expect,"
"anticipate," "should," "plan," "estimate," "predict," "continue,"
and "potential" or the negative of these terms or other comparable
terminology. Examples of forward-looking statements include,
but are not limited to, estimates with respect to the financial
condition, results of operations and business of Alamogordo
Financial Corp. Any or all of the forward-looking statements
in this release and in any other public statements made by
Alamogordo Financial Corp. may turn out to be wrong. They can
be affected by inaccurate assumptions Alamogordo Financial Corp.
might make or by known or unknown risks and uncertainties as
described in our SEC filings, including, but not limited to, those
related to general economic conditions, particularly in the market
areas in which Alamogordo Financial Corp. operates, competition
among depository and other financial institutions, changes in laws
or government regulations or policies affecting financial
institutions, including changes in regulatory fees and capital
requirements, inflation and changes in the interest rate
environment that reduce our margins or reduce the fair value of
financial instruments, our ability to successfully integrate
acquired entities, and adverse changes in the securities
markets. No forward-looking statement can be
guaranteed. Alamogordo Financial Corp. undertakes no
obligation to release revisions to these forward-looking statements
publicly to reflect events or circumstances after the date hereof
or to reflect the occurrence of unforeseen events.
Contact:
Jill
Gutierrez, President and Chief Executive Officer
Alamogordo Financial Corp.
(575) 437-9334
SOURCE Alamogordo Financial Corp.