Adopting the end of one’s exchange, previous First Midwest stockholders are expected so you’re able to along depict around forty two% of the mutual company
Evansville, Ind. and you can Chicago, Unwell. –Old Federal Bancorp (“Old National”) (NASDAQ: ONB) and First Midwest Bancorp, Inc. (“Earliest Midwest”) (NASDAQ: FMBI), jointly established now he has got joined to your a decisive merger contract to mix into the a the majority of-inventory merger off equals purchase that have a whole market price away from $six.5 billion to help make a top Midwestern bank having $forty-five mil from inside the joint possessions.
That have almost 270 joint many years of service and you can a contributed relationship in order to Midwestern thinking, Dated Federal and First Midwest are two groups passionate by the a good customer-centric method of financial, a keen unwavering commitment to people and you can a strong work with corporate social obligations, putting some shared organization the latest prominent selection for employees, customers and investors.
Beneath the regards to the new merger agreement, which was unanimously approved by the Boards out of Administrators off one another enterprises, Earliest Midwest stockholders will receive step 1.1336 shares of Old Federal preferred inventory for each and every share regarding Earliest Midwest popular inventory they have. Read more