il, (World NEWSWIRE) — First Midwest Bancorp, Inc. (“Earliest Midwest”) today established which has registered to the a definitive contract in order to and acquire Bridgeview Bancorp, Inc. (“Bridgeview”), the fresh holding organization to have Bridgeview Lender Class.
Bridgeview keeps everything $1.dos mil altogether assets, $1.step one million inside the places, at which nearly 75% was key dumps, and you may $800 mil within the fund (expert forma at the time of excluding Bridgeview’s home loan section, and therefore Very first Midwest is not getting). They works 13 banking organizations across the better Chicagoland, and additionally twigs on Bryn Mawr, Edgewater, Garfield Ridge, Lincoln Playground, Lincoln Square and you may Uptown areas from Chicago, together with numerous suburbs.
Bridgeview Bank’s web site are
“The audience is very excited so you can invited Bridgeview Financial members and you can colleagues to Earliest Midwest,” said Michael L. Scudder, Chairman, Chairman and you will Ceo out-of Basic Midwest. “Bridgeview was a proper-centered and trusted lender with deep client and society matchmaking, hence we look ahead to continuing. Joining forces having Bridgeview will bring to all of our website subscribers an enthusiastic lengthened footprint around the Chi town and extra enhances the position given that location Chicago’s premier industrial bank.”
“Basic Midwest has established extreme energy historically due to their business-leading commitment to relationships-situated banking also to taking a wide array of financial activities and qualities. We truly enjoy joining her or him,” said Peter J. Haleas, Chairman away from Bridgeview. “Our very own subscribers will continue to feel the extremely custom provider it attended you may anticipate out-of Bridgeview Lender, today for the additional advantageous asset of a broader range of products and features along side big scale.”
The latest merger agreement offers up a predetermined replace proportion off 0.2767 shares from Basic Midwest popular inventory, plus $1.79 in bucks for each and every share of Bridgeview popular stock, that have an overall total transaction property value whenever $145 mil, at the mercy of specific changes.
The transaction try susceptible to vintage regulating approvals, brand new approval of Bridgeview’s stockholders as well as the completion of numerous closing standards, that’s likely to close-in the second one-fourth regarding 2019.
First Midwest (NASDAQ: FMBI) is a relationship-focused financial institution and one of the largest independent publicly-traded bank holding companies based on assets headquartered in Chicago and the Midwest, with over $15 billion of assets and $11 billion of trust assets under management. First Midwest’s principal subsidiary, First Midwest Bank, and other affiliates provide a full range of commercial, treasury management, equipment leasing, consumer, wealth management, trust and private banking products and services through locations in metropolitan Chicago, northwest Indiana, central and western Illinois, and eastern Iowa. Visit First Midwest at firstmidwest.
and maintains its principal executive offices in Bridgeview, Illinois. Bridgeview Bank is a client-focused bank committed to providing an outstanding banking experience for all of its personal and business banking clients. It provides this experience through 13 banking locations throughout greater Chicagoland. bridgeviewbank.
That it pr release, also any oral comments produced by otherwise with the part from First Midwest, get contain certain “forward-looking comments” from inside the concept of the non-public Securities Legal actions Change Operate from 1995. Forward-lookin statements were people per First Midwest’s suggested purchase of Bridgeview, such as the will set you back and gurus relevant therewith therefore the time thereof. Sometimes, forward-looking statements is recognized by the use of conditions instance given that “will get,” “you are going to,” “commonly,” “perform,” “is,” “you will,” “expect,” “bundle,” “wish,” “invited,” “trust,” “estimate,” “mindset,” “assume,” “opportunity,” “possible,” “potential,” “you can,” “target,” “keep,” “look forward,” or “assume” and words regarding similar transfer. Forward-appearing statements commonly historical items otherwise claims of upcoming efficiency otherwise consequences, but alternatively show merely management’s philosophy regarding future overall performance or incidents, many of which, by the the nature, are inherently unclear and away from management’s control. It will be easy that actual results and you may occurrences can differ, perhaps materially, on the envisioned overall performance otherwise situations indicated within these forward-lookin comments. Basic Midwest cautions you to not ever put undue reliance on these statements. Forward-lookin statements are manufactured merely since the latest date from the release, and Very first Midwest undertakes zero obligations to improve one forward-lookin comments to help you echo the fresh guidance otherwise events otherwise criteria immediately following payday loans in Iowa new day hereof.
Forward-searching statements is actually susceptible to particular dangers, concerns and you will presumptions, also, however limited by: questioned synergies, benefit or any other monetary and other advantages of the newest advised purchase anywhere between Earliest Midwest and Bridgeview might not be understood contained in this the latest requested timeframes otherwise is lower than estimated, the necessary shareholder and you may regulatory approvals toward proposed purchase you will not be acquired otherwise may possibly not be obtained inside a fast trends, borrowing from the bank and you may interest threats from the First Midwest’s and you will Bridgeview’s respective people, buyers borrowing from the bank, payment, resource and you may deposit practices, and general economic conditions, possibly in the united states or perhaps in the market industry portion in which Very first Midwest and Bridgeview jobs or allowed conducting business, is generally shorter beneficial than just expected, the fresh regulating or judge standards or financial obligation, and other threats, concerns and you may presumptions recognized under the sections entitled “Risk Issues” and you will “Management’s Discussion and Study away from Economic Position and you may Result of Functions” inside Very first Midwest’s annual overview of Setting ten-K to your year ended , including then filings made with the brand new Securities and you will Replace Payment (the brand new “SEC”). However, such risks and you can uncertainties commonly exhaustive. Almost every other sections of eg records identify other factors that will negatively impression Earliest Midwest’s team, economic overall performance and you can pending otherwise consummated order transactions, like the recommended acquisition of Bridgeview.
Bridgeview Bank is a completely owned subsidiary off Bridgeview Bancorp, Inc
All the information contained here cannot create a deal to sell otherwise good solicitation from an offer to order any ties or a beneficial solicitation of any vote otherwise recognition. Concerning the the new proposed merger from Very first Midwest and you may Bridgeview, Basic Midwest usually document an enrollment statement toward Function S-cuatro on the SEC. The fresh new subscription statement will include good proxy declaration of Bridgeview, that can have a tendency to make-up an excellent prospectus out-of Basic Midwest, and that is delivered to Bridgeview’s stockholders. Investors and stockholders are encouraged to investigate subscription statement and proxy report/prospectus if this becomes available because will contain important information on Very first Midwest, Bridgeview plus the suggested exchange. Whenever filed, this file or other records concerning the deal recorded by the Basic Midwest is available free regarding SEC’s website during the . These data files may be purchased free of charge from the being able to access Earliest Midwest’s website within firstmidwest within the loss “Buyer Connections” right after which below “SEC Filings.” As an alternative, these documents is present no-cost of Very first Midwest on created consult so you’re able to Very first Midwest Bancorp, Inc., Attn: Business Assistant, 8750 Western Bryn Mawr Method, Collection 1300, Chicago, Illinois 60631 or by getting in touch with (708) 831-7483, otherwise of Bridgeview abreast of composed request to Bridgeview Bancorp, Inc., Attn: William Conaghan, President and you will Ceo, 4753 North Broadway, Chi town, Illinois 60640 or because of the contacting (773) 989-5728.
