BREWSTER, N.Y. and WHITE PLAINS, N.Y., April 7, 2015 (GLOBE NEWSWIRE) -- Putnam County Savings Bank ("PCSB") and CMS Bancorp, Inc. (Nasdaq:CMSB) ("CMS"), the holding company for CMS Bank, jointly announced that they expect their previously announced merger of CMS and CMS Bank with and into PCSB to be completed on or about April 28, 2015. All required regulatory approvals for the merger have been received and the stockholders of CMS have approved the adoption of the merger agreement with PCSB. Upon completion of the transaction, CMS stockholders will receive cash merger consideration of $13.25 per share.
Forward-Looking StatementsThe foregoing material contains forward-looking statements concerning PCSB and CMS. We caution that such statements are subject to certain risks and a number of uncertainties that may adversely affect the business, financial condition and results of operations of PCSB and CMS. These forward-looking statements include, without limitation, statements relating to the closing of the proposed transaction between PCSB and CMS. A number of important factors could cause actual results or events to differ materially from those indicated by such forward-looking statements, many of which are beyond the parties' control, including the parties' ability to consummate the transaction or to satisfy the conditions to completion of the transaction, including the parties' ability to meet expectations regarding the timing of the transaction. Readers should not place undue reliance on any forward-looking statements. PCSB and CMS do not undertake, and specifically disclaim, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
CONTACT: For further information contact: Joseph D. Roberto Chairman, President and CEO Putnam County Savings Bank (845) 279-7101 John E. Ritacco President and CEO CMS Bancorp, Inc. (914) 422-2700