First Charter Revises Merger Schedule with Fifth Third
14 Enero 2008 - 4:45PM
Business Wire
As previously disclosed, First Charter Corporation (NASDAQ: FCTR)
(�First Charter�) entered into an Amended and Restated Agreement
and Plan of Merger, dated as of September�14, 2007, by and among
First Charter, Fifth Third Bancorp (�Fifth Third�) and Fifth Third
Financial Corporation (�Fifth Third Financial�) pursuant to which
First Charter will merge with and into Fifth Third Financial (the
�Merger�). The Merger is subject to shareholder approval as well as
approval of banking regulatory authorities and the satisfaction of
other closing conditions. The First Charter Shareholder meeting to
consider and vote upon the Merger will be held at 10:00 a.m. on
January 18, 2008. On September�18, 2007, Fifth Third submitted the
application to the Federal Reserve Board for approval of the Merger
(the �Merger Application�). Fifth Third has informed First Charter
that it has responded to information requests from the Federal
Reserve Board regarding the application and comment letters
received from the public but has not yet received approval. Fifth
Third has also informed First Charter that although a first quarter
closing still could be possible if approval would be obtained soon,
Fifth Third no longer expects or believes that the transaction will
close in the first quarter of 2008. As the passage of time makes a
first quarter closing increasingly unlikely, First Charter now is
planning for closing in the second quarter of 2008 although no
assurance can be given in this regard. Bob James, President and
CEO, commented, �Fifth Third has informed us that they are
responding to information requests from the Federal Reserve Board
and are making a diligent effort to obtain regulatory approval. We
are now planning for closing in the second quarter of 2008.� About
First Charter First Charter Corporation (NASDAQ: FCTR),
headquartered in Charlotte, North Carolina, is a regional financial
services company with assets of $4.8 billion and is the holding
company for First Charter Bank. First Charter operates 60
locations, four insurance offices, and 137 ATMs in North Carolina
and Georgia, and also operates loan origination offices in
Asheville, North Carolina and Reston, Virginia. First Charter
provides businesses and individuals with a broad range of financial
services, including banking, financial planning, wealth management,
investments, insurance, and mortgages. For more information about
First Charter, visit the Corporation's Web site at
www.firstcharter.com or call 800-601-8471.
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