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The chairman, president and CEO of Amsterdam, Mo.-based Amsterdam Bancshares Inc. is boosting his stake in the family-owned company.
Randal Shannon has agreed to acquire an additional 74.89% stake in the company, the parent of Citizens Bank ($50.6 million), giving him a 91.75% stake, according to a Form 2081 filed Feb. 11 and recently obtained by SNL. Shannon will pay approximately $1.1 million in the form of a promissory note to acquire the additional stake.
The deal value is...