il, (World NEWSWIRE) — Earliest Midwest Bancorp, Inc. (“First Midwest”) now established this possess joined on the a definitive contract to help you and obtain Bridgeview Bancorp, Inc. (“Bridgeview”), the newest carrying business to possess Bridgeview Financial Group.
Bridgeview possess whenever $step 1.2 mil altogether possessions, $1.1 billion when you look at the dumps, from which almost 75% is actually center dumps, and you may $800 mil inside finance (professional manera as of leaving out Bridgeview’s home loan department, hence Basic Midwest isn’t acquiring). It works thirteen banking organizations across deeper Chicagoland, along with branches in the Bryn Mawr, Edgewater, Garfield Ridge, Lincoln Park, Lincoln Square and Uptown neighborhoods of Chi town, and additionally multiple suburbs.
Bridgeview Bank’s webpages are
“Our company is really delighted so you’re able to allowed Bridgeview Lender subscribers and you can associates to help you Basic Midwest,” said Michael L. Scudder, Chairman, Chairman and payday loans KS Ceo from Earliest Midwest. “Bridgeview is actually a properly-established and you will leading financial institution having deep client and community relationship, and that we look forward to carried on. Signing up for forces which have Bridgeview brings to in our clients an extended footprint across the Chi town and extra improves the condition just like the area Chicago’s premier commercial bank.”
“Earliest Midwest has created significant momentum historically due to its industry-leading commitment to relationship-mainly based banking and to bringing many financial circumstances and you can properties. We quite definitely look ahead to signing up for her or him,” told you Peter J. Haleas, President away from Bridgeview. “All of our clients continues to have the very personalized service it have come you may anticipate of Bridgeview Financial, now towards added advantageous asset of a wider range of products and you may qualities in addition to huge measure.”
The fresh new merger contract offers a fixed replace ratio off 0.2767 offers regarding First Midwest prominent stock, and $step one.79 in bucks for every express off Bridgeview preferred stock, which have a total purchase value of whenever $145 million, at the mercy of specific alterations.
Your order was subject to standard regulatory approvals, the approval of Bridgeview’s stockholders together with completion of several closing standards, in fact it is likely to close in the next quarter away from 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.
It pr release, and additionally people dental statements made by otherwise on account away from Very first Midwest, may have specific “forward-appearing comments” inside concept of the personal Securities Legal actions Change Act off 1995. Forward-searching statements become those individuals relating to First Midwest’s proposed purchase of Bridgeview, like the will set you back and you can positives related therewith and also the timing thereof. Occasionally, forward-searching comments will be acknowledged by the usage conditions particularly because “can get,” “might,” “commonly,” “perform,” “should,” “you can expect to,” “predict,” “bundle,” “intend,” “invited,” “believe,” “guess,” “attitude,” “anticipate,” “project,” “likely,” “possible,” “you are able to,” “address,” “continue,” “look forward,” or “assume” and you may words regarding comparable import. Forward-looking comments aren’t historic affairs otherwise guarantees from upcoming efficiency otherwise consequences, but alternatively share simply management’s opinions out-of future show otherwise incidents, some of which, by its character, is naturally unsure and you can outside of management’s control. It will be easy that performance and you may events can differ, possibly materially, about envisioned performance otherwise events expressed on these send-appearing statements. Very first Midwest warnings your not to ever set undue reliance on these statements. Forward-searching statements were created simply since the newest big date from the release, and you will Earliest Midwest undertakes zero obligations to enhance any submit-lookin statements in order to echo the newest information otherwise situations otherwise standards just after new time hereof.
Forward-appearing comments is susceptible to specific threats, uncertainties and you can assumptions, including, not restricted to: expected synergies, discount and other monetary and other benefits of the new recommended purchase anywhere between First Midwest and you may Bridgeview is almost certainly not know inside the new asked timeframes or is less than estimated, the newest necessary stockholder and you may regulatory approvals on the advised transaction you’ll never be acquired otherwise may not be gotten from inside the a punctual styles, borrowing and you may interest rate risks of this Earliest Midwest’s and you may Bridgeview’s respective people, consumer borrowing, cost, funding and you can deposit strategies, and you will standard economic conditions, often nationally or perhaps in the business components where Very first Midwest and you will Bridgeview efforts otherwise allowed conducting business, tends to be reduced positive than expected, the new regulatory or court requirements or debt, or other threats, concerns and you can presumptions recognized beneath the parts named “Exposure Affairs” and you may “Management’s Dialogue and Data from Monetary Status and Results of Surgery” for the Very first Midwest’s yearly report about Function ten-K into the seasons concluded , also then filings made with the fresh Securities and you will Exchange Fee (the “SEC”). Although not, these dangers and uncertainties aren’t thorough. Most other areas of such records determine other factors which could adversely perception Very first Midwest’s providers, monetary efficiency and you will pending otherwise consummated purchase deals, such as the proposed purchase of Bridgeview.
Bridgeview Lender is actually a wholly had part of Bridgeview Bancorp, Inc
All the details contains herein will not form an offer to market or a good solicitation of an offer to invest in any securities otherwise a solicitation of every vote or approval. Regarding the this new recommended merger away from First Midwest and you may Bridgeview, Very first Midwest often file a subscription report towards Function S-4 on SEC. Brand new subscription statement includes good proxy declaration out-of Bridgeview, that also usually form a beneficial prospectus regarding Basic Midwest, that’s sent to Bridgeview’s stockholders. People and you may stockholders are advised to browse the membership declaration and you can proxy report/prospectus whether it gets readily available as it tend to contain information on Very first Midwest, Bridgeview therefore the suggested exchange. When submitted, which document and other files concerning the exchange registered because of the Earliest Midwest can be obtained cost-free about SEC’s web site at the . These files may also be purchased cost-free because of the accessing Very first Midwest’s website from the firstmidwest according to the tab “Individual Relationships” and lower than “SEC Filings.” As an alternative, these types of records can be obtained free of Very first Midwest up on written request to help you Basic Midwest Bancorp, Inc., Attn: Business Assistant, 8750 West Bryn Mawr Avenue, Room 1300, Chicago, Illinois 60631 or from the contacting (708) 831-7483, otherwise from Bridgeview through to created request so you can Bridgeview Bancorp, Inc., Attn: William Conaghan, Chairman and you will Chief executive officer, 4753 North Broadway, Chicago, Illinois 60640 otherwise from the getting in touch with (773) 989-5728.