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Mergers & Acquisitions

Dealmaker Optimism Hits Record High in M&A Survey

October 18 — Respondents to Dykema’s 14th Annual M&A Outlook Survey expressed the highest level of optimism for the M&A market seen in the history of the study. Sixty-five percent of respondents expect the M&A market to strengthen over the next 12 months, significantly up from the mid- to high-30s where it has remained for the past several years. The increased optimism is tied to economic conditions, with 64 percent of respondents indicating a positive outlook on the economy during the next 12 months.

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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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