Old National Partners With Anchor Bancorp in $300M Transaction
Anchor Bancorp, Inc. ("Anchor") and Old National Bancorp (NASDAQ:ONB) ("Old National") announced today the signing of a definitive agreement under which Old National will acquire Anchor. Barack Ferrazzano served as legal advisor to Anchor in this transaction. Anchor Bank, N.A., a wholly-owned subsidiary of Anchor is one of the largest community banks headquartered in the Twin Cities.
This transaction is Barack Ferrazzano's 8th bank M&A transaction in 2017, and 7th in the Midwest. Subject to regulatory approval and the vote of Anchor shareholders, it is anticipated to close in the first quarter of 2018.
Barack Ferrazzano's team was led by Joseph T. Ceithaml, Dennis R. Wendte and Nicholas M. Brenckman. Compensation and benefits matters were handled by Andrew K. Strimaitis and K.C. Klagos, and tax matters were handled by Michael J. Towne and Alice Lin.
To read more about the transaction click here.
Barack Ferrazzano Financial Institutions Group
Our 30-attorney Group has represented more than 250 financial institutions across the country. Our M&A experience is unparalleled—over the past decade, our Group ranked #1 in the Midwest region by number of announced bank and thrift merger and acquisition transactions, according to S&P Global Market Intelligence. The Financial Institutions Group was again named as one of the top financial institution groups in the nation in the U.S. News & Best Lawyers 2017 report.