EXHIBIT 99.1 ------------ FOR IMMEDIATE RELEASE --------------------- CONTACT - CGB&L FINANCIAL GROUP, INC. MARALYN F. HECKMAN, PRESIDENT AND CHIEF EXECUTIVE OFFICER (217) 763-2911 February 21, 2001 CGB&L FINANCIAL GROUP, INC. ENTERS INTO AGREEMENT TO...Acquisition Agreement • February 22nd, 2001 • Cgb&l Financial Group Inc • Savings institutions, not federally chartered
Cerro Gordo, Illinois-Maralyn F. Heckman, President and Chief Executive Officer of CGB&L Financial Group, Inc., the parent company of Cerro Gordo Building & Loan, sb today announced that CGB&L had signed a definitive agreement to be acquired by a company controlled by David Movtady. The Company announced on January 12, 2001, that it had entered into a letter of intent to be acquired. CGB&L will be acquired for cash with each stockholder of CGB&L expected to receive approximately $23.00 per share.
EXHIBIT 2.1 ----------- AGREEMENT AND PLAN OF MERGERMerger Agreement • February 22nd, 2001 • Cgb&l Financial Group Inc • Savings institutions, not federally chartered • Illinois
