trending Market Intelligence /marketintelligence/en/news-insights/trending/gIX0W5bGA93-PEbiIJEmng2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Midland States buying Alpine for $181M

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

Midland States buying Alpine for $181M

In Illinois, Effingham-based Midland States Bancorp Inc. will acquire Belvidere-based Alpine Bancorp. Inc. for approximately 4.5 million Midland shares and $33.3 million in cash.

Based on Midland's closing price of $33.10 on Oct. 13, the deal has an implied value of approximately $181.0 million.

After completion, the combined company will have total assets of approximately $6.0 billion and a wealth management business with almost $3.0 billion in assets under administration.

Details to follow...