Published on Friday, December 26, 2014
Dutton Bancorporation Files Application to Acquire Stock of W.C. Edwards Holding Co.
Dutton Bancorporation (Dutton State Bank holding company) has filed an application to acquire 100% of the stock of W.C. Edwards Holding Co. (Farmers State Bank of Denton holding company). The transaction will occur through a reverse triangular merger whereby Dutton Acquisition Co. (a shell company formed to effect the merger), merges into the Denton holding company and, in turn, the Denton holding company merges into the Dutton holding company. The surviving entity will be renamed Big Muddy Bancorp, Inc. and will presumably file an affiliate bank merger application with appropriate regulatory authorities for the merger of Farmers State Bank of Denton into Dutton State Bank. [The $55 million surviving institution apparently will not be known as Big Muddy Bank.]
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