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Mergers & Acquisitions

M&A at Mid-Year

Values rise, pace quickens from a year ago.

By Bill Poquette, Editor-in-Chief

Maybe it’s the weather. The central part of the country has been sweltering since May, and a couple of big-ticket bank acquisitions in Chicago and Denver seem to suggest a warming-up of merger activity and pricing.

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First Midwest Bancorp, Inc. to Acquire Northern States Financial Corporation

June 7 – First Midwest Bancorp, Inc. (“First Midwest”), headquartered in Chicago, Illinois and the parent company of First Midwest Bank, has announced that it has entered into a definitive agreement to acquire Northern States Financial Corporation (“Northern States”), the holding company for NorStates Bank, based in Waukegan, Illinois.

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Byline Bancorp, Inc. Completes the Acquisition of First Evanston Bancorp

June 1 – Byline Bancorp, Inc., the holding company of Byline Bank, has completed its acquisition of First Evanston Bancorp, Inc. (“First Evanston”), the parent company of First Bank & Trust. As a result of the transaction, First Bank & Trust has now merged into Byline Bank. The transaction brings Byline’s total assets to approximately $4.4 billion, based on information as of March 31, 2018.

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Transactions Hold Steady, but M&A Prices Are on the Rise

May 29 — According to Integrated Legacy Solutions quarterly overview of bank merger and acquisition activity, banks announced 65 M&A transactions in the first quarter of 2018, equivalent to the number announced in the same time frame in 2017. However, the average prices of transactions continues to rise.

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FJ Capital Management Expects Community Bank Consolidation to Continue

May 4 — Congress is expected to pass a major piece of legislation on financial regulatory reform as early as this month, that should positively impact U.S. community and regional banks, and further spur mergers and acquisitions, according to McLean, Va.-based investment manager, FJ Capital Management. (more…)

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