Notes: Dec. 30, 2014 -- First NBC Bank Holding Company (Nasdaq: FNBC), the holding company for First NBC Bank, and State Investors Bancorp, Inc. (Nasdaq:SIBC), the holding company of State-Investors Bank, jointly announced today the signing of a definitive agreement for First NBC to acquire State Investors by means of a merger. Under the terms of the merger agreement, shareholders of State Investors will receive $21.25 in cash for each share of State Investors stock owned by them at the effective time of the merger. Based on 2,308,019 shares of common stock issued and outstanding as of December 30, 2014, the aggregate cash consideration payable to shareholders of State Investors is expected to equate to approximately $49.0 million. The merger agreement also provides that holders of stock options to purchase shares of State Investors common stock will receive, in exchange for their stock options, cash consideration equal to the difference between $21.25 and the exercise price of the option. Based on 221,626 stock options outstanding as of December 30, 2014 with a weighted average exercise price of $12.20 per share, First NBC expects to pay approximately $2.0 million in consideration for the outstanding stock options. The merger agreement has been approved by the boards of directors of First NBC and State Investors, and the merger is expected to close in the second quarter of 2015.