Financial Advisor And Fairness Opinion
First Midwest Bancorp, Inc.
$145.0 Million
12/06/2018
Depository
Complete
Lead Bankers:
Jim Hemmer, Adam Cunningham
Public Companies
Show Tombstone
M&A Advisory
Has Acquired
Transaction Details
- On December 6, 2018 — First Midwest Bancorp, Inc. (“First Midwest”) (NASDAQ NGS: FMBI) announced that it has entered into a definitive agreement to acquire Bridgeview Bancorp, Inc. (“Bridgeview”), the holding company for Bridgeview Bank Group
- The merger agreement provides for a fixed exchange ratio of 0.2767 shares of First Midwest common stock, plus $1.79 in cash for each share of Bridgeview common stock, with an overall transaction value of approximately $145.0 million, subject to certain adjustments
- This merger will expand First Midwest’s Chicagoland presence in attractive Cook, DuPage, Kendall, Lake and Will County marketplaces
- Desirable locations within City of Chicago
- DuPage, Kendall, Lake and Will are ranked as the top 4 counties in Illinois based on median household income
- The merger is expected to be completed in the second quarter of 2019(1)
Sources: Company filings, SNL Financial and publicly available information.
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(1)Subject to approval by bank regulatory authorities and the shareholders of Bridgeview.
(2)All transaction multiples referenced herein per public filings related to the transaction dated December 6, 2018.
(3)Based on FMBI’s closing stock price as of December 4, 2018.
(4)Financial impact of FMBI at estimated closing (EPS accretion excludes one-time deal related charges).
(5)Bridgeview highlights per Investor Presentation dated December 6, 2018.
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