Nicolet Bankshares Acquires MidWestOne Financial Group in All-Stock Merger

Nicolet Bankshares Acquires Mackinac Financial Corporation (mBank)

April 12, 2021

Financial Services

Nicolet Bankshares, Inc. agreed to acquire Mackinac Financial Corporation and its wholly owned subsidiary mBank in a transaction valued at approximately $248 million. The deal, consisting of roughly 80% stock and 20% cash, expands Nicolet's community banking footprint into Northern Michigan and is expected to close in Q3 2021 subject to regulatory and shareholder approvals.

MidWestOne Financial Acquires Denver Bankshares (Bank of Denver)

September 27, 2023

Financial Services

MidWestOne Financial Group, Inc. entered into a definitive agreement to acquire Denver Bankshares, Inc., the parent company of the Bank of Denver, for $32.6 million in cash. The deal (expected to close Q1 2024) adds approximately $271.5 million in assets, $198.0 million in loans and $242.0 million in deposits and is intended to accelerate MidWestOne's expansion and scale in the Denver market.

DFCU Financial Acquires MidWestOne Bank's Florida Operations

June 10, 2024

Financial Services

DFCU Financial completed the acquisition of MidWestOne Bank's Florida operations, adding branches and customers in the Naples-Marco Island and Cape Coral–Fort Myers MSAs. The move expands DFCU's field of membership into Lee, Collier and Charlotte counties and brings MidWestOne’s Florida customers and employees into DFCU.

Old National Bancorp and First Midwest Bancorp Announce $6.5 Billion Merger

June 1, 2021

Financial Services

Old National Bancorp (NASDAQ: ONB) and First Midwest Bancorp (NASDAQ: FMBI) have entered into a definitive merger agreement to combine in an all-stock merger of equals valued at $6.5 billion. The combined company will operate under the Old National Bancorp and Old National Bank names with dual headquarters in Evansville, Indiana and Chicago, Illinois, and the deal is expected to close in late 2021 or early 2022 subject to approvals.

First Mid Bancshares Acquires Blackhawk Bancorp

March 21, 2023

Financial Services

First Mid Bancshares, Inc. will acquire 100% of Blackhawk Bancorp, Inc. in a stock-for-stock merger in which Blackhawk shareholders will receive 1.15 shares of First Mid common stock for each share of Blackhawk common stock (aggregate consideration of approximately $90.3 million based on First Mid's March 20, 2023 share price). The transaction expands First Mid's footprint with Blackhawk's 10 branches in Wisconsin and Illinois, is expected to close in the second half of 2023 subject to regulatory and shareholder approvals, and is projected to be accretive to EPS with significant cost savings and liquidity benefits.

Magnifi Financial Acquires Financial One Credit Union

October 1, 2022

Financial Services

Magnifi Financial merged with Financial One Credit Union effective October 1, 2022, following board approvals and a member vote. The combination expands Magnifi's presence in the greater Twin Cities (adding branches in Blaine, Coon Rapids and Columbia Heights), brings Financial One's indirect lending capability into the organization, and results in a combined organization with nearly $2 billion in assets, ~85,000 members and a 25-branch network.