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Shares of Cabela's Inc. (CAB) were gaining by 7.93% to $57.95 in after-hours trading on Monday, after the omni-channel retailer of hunting, fishing, camping, shooting sports and related outdoor merchandise announced it has come to a deal in connection with the sale of the assets and liabilities of its bank subsidiary.

The sale agreement for World's Foremost Bank was reached with Synovus (SNV) and Capital One Financial (COF) .

"Under the terms of the Bank Transaction Agreements, Synovus, a bank subsidiary of Synovus Financial ... will acquire certain assets and assume certain liabilities of the bank, including deposits totaling approximately $1.2 billion," Cabela's said.

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