AGREEMENT AND PLAN OF MERGER BY AND BETWEEN THE SAVANNAH BANCORP, INC. AND BRYAN BANCORP OF GEORGIA, INC. Dated as of February 11, 1998 AGREEMENT AND PLAN OF MERGER THIS AGREEMENT AND PLAN OF MERGER (this "Agreement") is made and entered into as of...Stock Option Agreement • March 3rd, 1998 • Bryan Bancorp of Georgia Inc • State commercial banks • Georgia
THIS AGREEMENT AND PLAN OF MERGER (this "Agreement") is made and entered into as of February 11, 1998, by and between THE SAVANNAH BANCORP, INC. ("Savannah"), a Georgia corporation; and BRYAN BANCORP OF GEORGIA, INC. ("Bryan"), a Georgia corporation. Preamble The respective Boards of Directors of Bryan and Savannah are of the opinion that the transactions described herein are in the best interests of the parties to this Agreement and their respective shareholders. This Agreement provides for the merger of Bryan with and into Savannah. At the effective time of such merger, the outstanding shares of the capital stock of Bryan shall be converted into the right to receive shares of the common stock of Savannah (except as provided herein). As a result, shareholders of Bryan shall become shareholders of Savannah and Savannah shall continue to conduct the business and operations of Bryan. The transactions described in this Agreement are subject to the approvals of the shareholders of Bryan, t
