Sunshine Bancorp, Inc. Announces Regulatory Approval and Closing Date

PLANT CITY, Fla.--()--Sunshine Bancorp, Inc. (NASDAQ: “SBCP”) (“Sunshine”), the parent holding company of Sunshine Bank, announced that on October 13, 2016 the Federal Reserve Bank of Washington D.C. approved the merger with FBC Bancorp Inc. (“FBC”)

The Company has now received all necessary regulatory approvals and expects to close the transaction on or around October 31, 2016, with a system conversion scheduled for the weekend of December 3, 2016.

The Company announced plans to acquire FBC in an all stock deal on May 10, 2016.

About Sunshine Bancorp, Inc.

Sunshine Bancorp, Inc. was formed in 2014 as the holding company for Sunshine Bank. The bank was first organized in 1954 in Plant City. In 2014 after converting from the mutual form of organization to the stock form, the current name of Sunshine Bank was adopted. Operations are conducted from the main office in Plant City, Florida and eleven additional offices in Hillsborough, Polk, Manatee, Orange, and Pasco Counties, Florida. The Company provides community bank financial services to individuals, families, and business customers. Sunshine’s common stock is traded on the NASDAQ Capital Market under the symbol “SBCP.” For further information, visit the company’s website at www.mysunshinebank.com

Forward Looking Statements

This news release contains forward-looking statements within the meaning of the federal securities laws. Statements in this release that are not strictly historical are forward-looking and are based upon current expectations that may differ materially from actual results. These forward-looking statements, identified by words such as “will,” “expected,” “believe,” and “prospects,” involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. These risks and uncertainties involve general economic trends and changes in interest rates, increased competition, changes in consumer demand for financial services, the possibility of unforeseen events affecting the industry generally, the uncertainties associated with newly developed or acquired operations, and market disruptions. The Company 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, except as required to be reported under the rules and regulations of the Securities and Exchange Commission.

Contacts

Sunshine Bancorp, Inc.
Brent Smith, 813-659-8626
SVP, Corporate Development

Release Summary

Sunshine Bancorp, Inc (NASDAQ: SBCP), parent holding company of Sunshine Bank, announced that on October 13, 2016 the Federal Reserve Bank of Washington D.C. approved the merger with FBC Bancorp Inc.

Contacts

Sunshine Bancorp, Inc.
Brent Smith, 813-659-8626
SVP, Corporate Development