Danvers Bancorp shareholders to vote Oct. 9 on Beverly National deal

By Lisa Kerner

Charlotte, N.C., Sept. 4 - Danvers Bancorp, Inc.'s board of directors is recommending that shareholders vote in favor of the company's merger with Beverly National Corp. at a special meeting at 10 a.m. ET on Oct. 9.

The record date for the meeting is Aug. 28, according to a Danvers news release.

In June, Beverly agreed to merge with and into Danvers in a transaction valued at $61.95 million.

Beverly stockholders will receive 1.66 shares of Danvers common stock, valued at about $23.04, in exchange for each common share of Beverly.

Danvers is the holding company of Danversbank based in Danvers, Mass.

Beverly, located in Beverly, Mass., is the holding company for Beverly National Bank.

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