Pierce, Neb.-based Midwest Banc Holding Co. applied with the Federal Reserve Bank of Kansas City to acquire up to 100% of the voting shares of Centennial, Colo.-based Redstone Bank, according to a Federal Reserve release.

Terms of the deal were not disclosed.

For reference, SNL valuations for bank and thrift targets in the Southwest region between June 6, 2017, and June 6, 2018, averaged 181.44% of book, 191.51% of tangible book and had a median of 20.09x last-12-months earnings, on an aggregate basis.

SNL data shows that Midwest Banc Holding will enter Arapahoe County, Colo., with one branch to be ranked No. 18, with a 0.7% share of around $14.34 billion in total market deposits.

As of March 31, Midwest Banc unit Midwest Bank NA had approximately $687.1 million in total assets, while Redstone Bank had approximately $117.7 million in total assets, according to S&P Global Market Intelligence data.

To use S&P Global Market Intelligence's branch analytics tools to compare market overlap, click here. To create custom maps, click here.

SNL is an offering of S&P Global Market Intelligence.