Mergers & Acquisitions - Page 2

HomeStar Bank to Become Part of Midland States Bank

HomeStar Bank and Financial Services in Manteno, Ill., is being acquired by Midland States Bank in Effingham, Ill. The banks currently expect the merger to occur in October.


North Shore Bank and Beverly Bank to Merge in Massachusetts

Massachusetts companies North Shore Bank, based in Peabody, and Beverly Bank announced plans to merge, creating an organization with more resources to better serve the people, businesses and communities north of Boston. Under the terms of the definitive merger agreement, Beverly Financial and Beverly Bank will merge with and into North Shore Bancorp and North Shore Bank, respectively.


Glacier Bancorp Announces Acquisition of Heritage Bancorp in Nevada

Montana’s Glacier Bancorp Inc., based on Kalispell, has agreed to acquire Heritage Bancorp, the bank holding company for Heritage Bank of Nevada, a community bank based in Reno. The acquisition marks Glacier’s 22nd announced acquisition since 2000 and it’s 11th announced transaction in the past six years. Heritage Bank provides banking services to individuals and businesses throughout northern Nevada with seven banking offices located in Carson City, Gardnerville, Reno and Sparks. As of Dec. 31, 2018, it had total assets of $829.7 million, gross loans of $595.6 million and total deposits of $720.5 million.


Partnerships, Consolidation Are Essential for Financial Institutions Seeking M&A

Financial services firms seeking marketing leadership positions will need to explore M&A and partnership opportunities that create scale, leverage technology and create cost efficiencies, said Dan Avery and Jim Kearney, M&A and financial services leaders with Point B Inc., a management consulting, venture investment and real estate development firm based in Seattle, Wash.


Indiana’s German American Bancorp to Acquire Citizens First in Kentucky

Jasper, Ind.-based German American Bancorp Inc. and Citizens First Corp. of Bowling Green, Ky., have entered into a definitive agreement to merge Citizens First in German American. Upon completion of the transaction, Citizens First’s subsidiary bank, Citizens First Bank Inc., will be merged into German American’s subsidiary, German American Bank.

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