BYL Bancorp Approves Takeover by First Banks

BYL Bancorp said Friday that its shareholders voted to approve the Orange institution’s acquisition by First Banks America Inc. for $18.50 a share, or $52 million.

The transaction, which is subject to regulatory approval, is expected to be completed during the fourth quarter, BYL said.

First Banks, owner of First Bank & Trust, is based in Clayton, Mo.

BYL’s stock last traded Thursday at $18.15 a share on Nasdaq. First Banks shares closed Friday at $30.65, up 75 cents, on the New York Stock Exchange.