January 9, 2015

Back to List

The Barack Ferrazzano Financial Institutions Group acted as legal counsel for Midland States Bancorp in its December 31, 2014 acquisition of St. Louis based Heartland Bank and its operating subsidiaries. Midland's latest transaction creates one of the largest community banks in the Midwest, with $2.7 billion in banking assets. Barack Ferrazzano's legal team was led by Dennis R. Wendte and Zack S. Christensen, along with Emily N. Henkel and Andrew K. Strimaitis.

Midland States Bancorp, Inc. Headquartered in Effingham, IL, this deal increases Midland's banking assets to $2.7 billion, and brings its number of banking locations to 58, including 37 locations in Illinois; 15 in Missouri; four in Colorado; and one each in Wisconsin and North Carolina.

Midland is a diversified financial services company operating nationwide in 70 locations. Midland also acquired Heartland Business Credit and Love Funding Corp. as part of the transaction. Heartland Business Credit provides commercial equipment leasing and operates from Denver. Love Funding, one of the largest providers of Federal Housing Administration/Department of Housing and Urban Development multifamily and senior/health care facility financing, is headquartered in Washington, D.C., and has 14 offices across the U.S.

Follow us on LinkedIn and on Twitter @BFKNLaw.