The transaction is presently valued at approximately $67 million in the aggregate, based upon Cambridge Bancorp’s closing price of $85.61 as of December 4, 2018.
Earnings per share, excluding one-off items, rose to $3.00. Analysts had, on average, forecast earnings per share of $3.04, according to IBES data from Refinitiv.
By adding personal loans to our expanding product suite, we’re meeting the needs of today’s consumers who want a safe, fast and easy way to borrow money online.
Adjusting for $7.2 million related to an accrual for deposit insurance assessments for periods prior to 2018 and $1.4 million of banking center optimization expenses, earnings per diluted share would have been $0.92.