The BFKN Financial Institutions Group served as legal counsel to Level One Bancorp (NASDAQ: LEVL) in its sale to First Merchants Corporation (NASDAQ: FRME). Following regulatory approvals last month, the companies completed their cash/stock transaction effective April 1, 2022.
Headquartered in Farmington Hills, Michigan, LEVL operated 17 banking center locations in Michigan, all of which will remain part of the First Merchants franchise. The combined company will have assets of about $18 billion and 126 banking offices across Indiana, Michigan, Ohio and Illinois.
“Our merger into First Merchants provides tremendous benefits to customers, shareholders and communities as we look forward to continuing the exceptional customer service, local responsiveness and strong community engagement that has defined Level One since its founding in 2007,” said Level One CEO, Patrick J. Fehring.
BFKN’s legal team was led by Financial Institutions Group co-chair John E. Freechack and partner Bill Fay and assisted by associate Neil R. Patel. Compensation & Employment Group chair Andrew K. Strimaitis and associate Alex Freund handled executive compensation matters, partner John M. Geiringer handled regulatory matters, while partner Alice Lin and associate Megan E. Toal provided guidance with respect to the tax aspects of the closing. Partner Scott Porterfield handled litigation matters.
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