Method of Converting Shares. All of the shares of FNB Common Stock issued and outstanding at the Effective Time shall remain issued and outstanding after the Effective Time and shall be unaffected by the Bank Merger. At the Effective Time, the certificates representing all of the issued and outstanding shares of PSNB Common Stock shall be surrendered to FNB for cancellation and no consideration shall be issued in exchange therefor.
Appears in 2 contracts
Sources: Merger Agreement (Port St Lucie National Bank Holding Corp), Merger Agreement (Seacoast Banking Corp of Florida)