Affinity Bancshares agrees to sell substantially all assets to Atlanta Postal Credit Union for ~$159.8M

Affinity Bancshares, Inc.

Purchase price of $22.50 per share plus option and liquidation adjustments; estimated at $159.8M.
Transaction expected to close in Q4 2024 or Q1 2025, subject to regulatory and shareholder approvals.
Affinity will pay a termination fee of $6.39M under certain conditions if deal is not completed.
Directors have entered into voting agreements to support the transaction.
Following closing, Affinity Bank will dissolve and distribute remaining cash to shareholders.

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