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Merger & Acquisition Round Up: MidFirst Bank, Provident

MidFirst Bank and Wintrust announce acquisitions while Skyline Bank and Provident prepare for mergers

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  • Written by  Banking Exchange staff
Merger & Acquisition Round Up: MidFirst Bank, Provident

MidFirst Bank has announced it will acquire the Houston, Texas banking locations of Amerant Bank.

Following the close of the acquisition, which is expected later this year, MidFirst will add six of Amerant Bank’s locations to the company’s footprint as well as 45 employees.

Meanwhile, Wintrust is set to acquire Macatawa Bank, which is a Michigan state-chartered bank headquartered in Holland, Michigan.

Wintrust will take over Macatawa’s network of 26 full-service branches located throughout communities in Kent, Ottawa and northern Allegan countries, including Grand Rapids.

Additionally, Skyline National Bank and Johnson County Bank will combine their companies.

Johnson Country Bank will merge with and into Skyline National Bank in an all-cash transaction that is valued at $25 million.

The combined organization is expected to have 28 banking locations, assets of nearly $1.2 billion, deposits of over $1 billion, and shareholders’ equity of approximately $89.1 million at closing.

Earlier this month, Coastal Bank & Trust announced it had completed its merger into Providence to create a community bank with approximately $1.2 billion in assets.

The combined company also has total loans of $996.6 million and total deposits of $1 billion.

Following the completion of the merger, Providence now operates ten full-service offices and one loan production office serving eastern Northern Carolina from Raleigh to the Coast.

Provident also received regulatory approval from the Board of Governors of the Federal Reserve System to complete its previously announced merger with Lakeland.

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