August 18, 2014 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Intervest Bancshares Corp (NASDAQ:IBCA), was announced concerning whether the takeover of Intervest Bancshares Corp by Bank Of The Ozarks Inc is unfair to NASDAQ:IBCA stockholders.

The investigation by a law firm concerns whether certain officers and directors of Intervest Bancshares Corp breached their fiduciary duties owed to NASDAQ:IBCA investors in connection with the proposed acquisition.

On July 31, 2014, Intervest Bancshares Corp and Bank Of The Ozarks Inc announced the signing of a definitive agreement and plan of merger whereby Bank Of The Ozarks Inc will acquire all of the outstanding common stock of Intervest Bancshares Corp in a transaction valued at approximately $228.5 million. Under the terms of the transaction, each holder of outstanding shares of common stock of Intervest Bancshares Corp (NASDAQ:IBCA) will receive shares of common stock of Bank Of The Ozarks Inc (NASDAQ:OZRK). The number of Bank Of The Ozarks Inc shares to be issued will be determined based on Bank Of The Ozarks Incs ten day average closing stock price as of the fifth business day prior to the closing date, subject to a minimum and maximum price of $23.95 and $39.91, respectively.

However, the investigation concerns whether the offer is unfair to NASDAQ:IBCA stockholders. More specifically, the investigation concerns whether the Intervest Bancshares Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Intervest Bancshares Corp reported that its Net Loss of $53.31 million turned into a Net Income of $14.49 million in 2013. Shares of Intervest Bancshares Corp (NASDAQ:IBCA) grew from $1.95 per share in October 2010 to as high as $8.13 per share in July 2014.