ODNB Financial and National Capital Bancorp (OTC: NACB) signed a definitive merger of equals agreement. The deal creates a new community bank holding company headquartered in Washington, D.C. The combined entity will hold approximately $2.4 billion in total assets and operate 10 branches.
This transaction forms the projected seventh-largest bank by assets in the Washington, D.C. metropolitan area. The combined company plans to list on a major exchange like Nasdaq or the NYSE. It will trade under the ticker NACB to improve shareholder liquidity.
The merger is expected to be more than 50% accretive to earnings per share in 2027. Both boards of directors unanimously approved the transaction. The deal is targeted to close in the fourth quarter of 2026, pending shareholder and regulatory approvals.