Adams National Bank merger delayed - Washington Business Journal:

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Huntington, W.V.-based Premier Financia (NASDAQ: PFBI) announced Thursday that it woul d delay completion of its planned mergerwith D.C.-baser Abigail Adams National Bancorp AANB) until no later than Sept. 30 to provide more time for regulatory approvakl and to reduce the minimum amount ofTreasury Department's Capital Purchase Program funds required to completw the merger. The Treasury Department’s contributionn was originally setat $24 million, but will be reducede to $20 million.
Premier said all necessary filingsd for regulatory approval had been filed as ofJune 18, 2009 and it was prudenr to allow more time for their review beforer special meetings of both companies’ On Dec. 31, 2008, Premiefr and Adams, a $396 million bank holdin g company headquarteredin D.C. reachedf an agreement to merge Adams into Premiert whereby Adams stockholders wouldreceive 0.4461 shares of Premier common stock for each share of Adams common stock they owned.