Drangedal Sparebank, Sparebanken DIN Telemark boards approve merger

The boards of Drangedal Sparebank and Sparebanken DIN Telemark have approved a merger agreement, forming Telemark Sparebank. Drangedal Sparebank will be the legal acquiring entity.

The merger values Drangedal Sparebank's adjusted book equity at NOK 752 million and Sparebanken DIN Telemark's at NOK 1,052 million as of Q3 2025. The agreed exchange ratio is 41.24% for Drangedal Sparebank and 58.76% for Sparebanken DIN Telemark, with consideration paid in a mix of equity certificates and cash.

Upon completion, the merged bank will have a total of 7,348,307 equity certificates. Shareholder meetings are scheduled for December 18, 2025, with the merger expected to take effect around June 1, 2026, pending regulatory approvals.