Item 8.01Other Events
On January 17, 2020, Southern Missouri Bancorp, Inc. ("Southern Missouri"), the
parent corporation of Southern Bank, issued a press release announcing the entry
into an Agreement and Plan of Merger (the "Merger Agreement") with Central
Federal Bancshares, Inc. ("Central"), the parent corporation of Central Federal
Savings & Loan Association of Rolla, Rolla, Missouri ("Central Federal"). The
Merger Agreement provides that Southern Missouri will acquire Central in an
all-cash transaction. As part of the transaction, Central Federal will be
merged with and into Southern Bank. A copy of the press release is attached to
this Current Report on Form 8-K and incorporated by reference herein.
Under the terms of the Merger Agreement, unanimously approved by the boards of
directors of Central and Southern Missouri, Central shareholders will receive
$15.90 in cash for each share of Central common stock, subject to adjustment for
Central's capital at closing. The deal is valued at approximately $24.0 million,
inclusive of the retirement of debt outstanding under Central's Employee Stock
Ownership Plan.
Southern Missouri and Central anticipate completion of the transaction late in
the second calendar quarter of 2020, subject to satisfaction of customary
closing conditions, including regulatory and shareholder approvals.
Item 9.01Financial Statements and Exhibits
(d)Exhibits
99.1 Joint Press Release dated January 17, 2020
--------------------------------------------------------------------------------
2
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses