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Level One Bancorp Announces Strategic Sale to First Merchants Corporation

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The Barack Ferrazzano Financial Institutions Group served as legal counsel to Level One Bancorp (NASDAQ: LEVL), in its definitive merger agreement to sell to First Merchants Corporation (NASDAQ: FRME) in a stock and cash transaction valued at approximately $323.5 million.

The transaction is expected to be completed by the first half of 2022, subject to the affirmative vote of a majority of Level One common shareholders, regulatory approvals, and other customary conditions. The combined company, conducting its banking business as First Merchants Bank, expects to complete its system integration during the third quarter of 2022.

“We believe our partnership with First Merchants will provide tremendous benefits to our customers, shareholders and communities as we look forward to continuing the legacy of exceptional customer service, local responsiveness and strong community engagement that has defined Level One Bank since it was founded in 2007.” Level One chairman and CEO Patrick Fehring said.

Barack Ferrazzano’s legal team was led by John E. Freechack, Bill Fay and Emily N. Henkel. Executive compensation and benefits were handled by Andrew K. Strimaitis. Regulatory issues were handled by John M. Geiringer.

To read more about this deal, visit:

https://www.globenewswire.com/news-release/2021/11/04/2327548/0/en/First-Merchants-Corporation-and-Level-One-Bancorp-Inc-Announce-Signing-of-a-Definitive-Merger-Agreement.html

https://www.retailbankerinternational.com/news/first-merchants-signs-323-5m-deal-to-buy-level-one-bancorp/

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