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Midland States to acquire Centrue Financial in $175M deal

Effingham, Ill.-based Midland States Bancorp Inc. agreed to buy Ottawa, Ill.-based Centrue Financial Corp. for an estimated price of $175.1 million, or $26.75 per share of Centrue common stock.

The consideration will be paid 65% in Midland common stock and 35% in cash, according to a Jan. 26 press release.