US Alliance Corp. on Aug. 1 completed its acquisition of Northern Plains Capital Corp.

Each outstanding share of Northern Plains Capital common stock was converted to 0.5841 share of US Alliance common stock. The total merger consideration was about 1,644,361 shares of US Alliance common voting stock.

The transaction saw US Alliance acquire all of the outstanding shares of Northern Plains Capital unit Dakota Capital Life Insurance Co., which it plans to contribute to another one of its subsidiary, US Alliance Life & Security Co.