il, (Globe NEWSWIRE) — Earliest Midwest Bancorp, Inc. (“Earliest Midwest”) today revealed so it has actually inserted toward a definitive contract in order to to get Bridgeview Bancorp, Inc. (“Bridgeview”), the brand new carrying team for Bridgeview Bank Category.
Bridgeview features as much as $step 1.dos mil in total assets, $1.step 1 billion in dumps, from which almost 75% are center dumps, and you can $800 mil from inside the money (professional forma at payday loans NE the time of leaving out Bridgeview’s home loan division, hence Very first Midwest isn’t acquiring). It works 13 banking organizations around the greater Chicagoland, and additionally branches on Bryn Mawr, Edgewater, Garfield Ridge, Lincoln Playground, Lincoln Square and you can Uptown neighborhoods of Chi town, and additionally several suburbs.
Bridgeview Bank’s website is actually
“Our company is really thrilled to acceptance Bridgeview Bank clients and you may colleagues to help you First Midwest,” said Michael L. Scudder, Chairman, Chairman and you can Ceo of Earliest Midwest. “Bridgeview was a properly-mainly based and you will top financial institution that have deep visitors and you may area relationship, and therefore i look ahead to continued. Signing up for pushes having Bridgeview will bring to all the of your customers an expanded footprint across il and extra improves our very own position due to the fact town Chicago’s prominent industrial lender.”
“Very first Midwest has generated high momentum historically on account of its industry-top dedication to relationships-mainly based financial in order to providing several banking affairs and you can functions. I a whole lot anticipate joining him or her,” told you Peter J. Haleas, Chairman of Bridgeview. “Our readers continues to have the very customized provider it attended you may anticipate out-of Bridgeview Lender, now with the additional benefit of a greater range of products and you may features along with larger scale.”
The fresh new merger arrangement offers a predetermined exchange ratio off 0.2767 shares out of Very first Midwest well-known inventory, in addition to $step 1.79 when you look at the cash for every single show off Bridgeview preferred inventory, having a complete exchange worth of around $145 million, susceptible to certain adjustments.
The transaction try subject to customary regulatory approvals, the brand new acceptance of Bridgeview’s stockholders and also the end of numerous closure conditions, that will be likely to close-in the next quarter out-of 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 news release, including any oral statements produced by otherwise into account out of Very first Midwest, can get incorporate particular “forward-lookin statements” in concept of the non-public Securities Legal actions Reform Act off 1995. Forward-appearing statements are people based on Basic Midwest’s recommended acquisition of Bridgeview, including the costs and you will masters related therewith and the timing thereof. In many cases, forward-searching comments would be recognized by the effective use of terms such while the “will get,” “you are going to,” “tend to,” “perform,” “is always to,” “you’ll,” “expect,” “bundle,” “want,” “enjoy,” “faith,” “guess,” “attitude,” “anticipate,” “investment,” “possible,” “prospective,” “it is possible to,” “target,” “continue,” “look forward,” otherwise “assume” and you can conditions of comparable import. Forward-looking statements are not historical products or pledges of coming show or effects, but rather show only management’s values from future performance or incidents, many of which, by the its nature, try naturally not sure and you will beyond management’s control. You are able that actual abilities and you can incidents may differ, perhaps materially, on the expected results otherwise situations shown throughout these pass-looking statements. Very first Midwest warnings your not to put unnecessary dependence on such statements. Forward-lookin comments are made simply since the new day associated with the release, and you will Earliest Midwest undertakes no obligation in order to up-date any send-appearing statements in order to reflect the latest advice or occurrences otherwise conditions once the fresh new go out hereof.
Forward-looking comments is at the mercy of certain dangers, concerns and you will presumptions, plus, but not limited by: requested synergies, discount or any other financial or any other advantages of the fresh new advised transaction anywhere between Basic Midwest and you will Bridgeview may not be knew contained in this new questioned timeframes otherwise will be below estimated, this new needed shareholder and regulating approvals to the advised deal you are going to never be received otherwise is almost certainly not received during the a punctual fashion, borrowing and you can rate of interest dangers associated with the Basic Midwest’s and Bridgeview’s particular people, customers borrowing from the bank, cost, financing and put techniques, and standard fiscal conditions, both across the country or even in the market industry elements where Earliest Midwest and you may Bridgeview jobs otherwise acceptance doing business, may be shorter favorable than expected, new regulating or courtroom requirements or obligations, or any other dangers, uncertainties and you will presumptions recognized underneath the parts named “Risk Issues” and you can “Management’s Discussion and you may Study regarding Monetary Position and Result of Functions” within the Earliest Midwest’s annual review of Mode 10-K towards seasons concluded , as well as subsequent filings made with new Bonds and Change Commission (this new “SEC”). However, these risks and you will uncertainties commonly exhaustive. Most other parts of including records explain other factors that could adversely effect Very first Midwest’s business, financial overall performance and pending otherwise consummated order transactions, like the proposed acquisition of Bridgeview.
Bridgeview Financial are an entirely had part regarding Bridgeview Bancorp, Inc
All the info consisted of here does not form an offer to sell otherwise an effective solicitation away from an offer to order one bonds otherwise a good solicitation of any choose otherwise recognition. In connection with new suggested merger of First Midwest and you can Bridgeview, Very first Midwest tend to file an enrollment report toward Setting S-4 into the SEC. The fresh subscription statement includes a great proxy report of Bridgeview, that also often comprise a prospectus from Basic Midwest, which is taken to Bridgeview’s stockholders. Traders and you may stockholders should check out the subscription report and you can proxy statement/prospectus in the event it will get readily available as it commonly contain information regarding the First Midwest, Bridgeview as well as the advised deal. Whenever filed, it file and other files regarding the purchase recorded by Basic Midwest can be acquired no-cost from the SEC’s web site in the . This type of documents also can be bought free of the accessing Basic Midwest’s web site within firstmidwest in case “Individual Relationships” after which significantly less than “SEC Filings.” Alternatively, these types of records can be found free of charge of First Midwest up on written demand to First Midwest Bancorp, Inc., Attn: Business Secretary, 8750 West Bryn Mawr Opportunity, Room 1300, Chicago, Illinois 60631 otherwise of the getting in touch with (708) 831-7483, or away from Bridgeview upon authored demand so you’re able to Bridgeview Bancorp, Inc., Attn: William Conaghan, President and you will President, 4753 North Broadway, il, Illinois 60640 or of the contacting (773) 989-5728.