Update: The deal announced in August 2018 has been completed. Click on the articles below to read more about this transaction.

August 22, 2018 - Markets Insider

MidWestOne Financial Group Inc. to Acquire ATBancorp

The Barack Ferrazzano Financial Institutions Group acted as legal counsel to ATBancorp in connection with the pending acquisition by MidWestOne Financial Group, Inc. ("MidWestOne") (Nasdaq: MOFG), valued at approximately $170.3 million.

The transaction is expected to close during the first quarter of 2019, resulting in a combined company operating under MidWestOne’s name with approximately $4.7 billion in assets and over 60 branches throughout Iowa, Minnesota, Wisconsin, Florida and Colorado.

Under the terms of agreement, the aggregate consideration to be paid by MidWestOne for ATBancorp will consist of stock consideration at an exchange ratio of 117.5500x and fixed cash consideration of $34.8 million. MidWestOne expects the transaction to be 15%+ accretive to its earnings per share in 2019 (excluding onetime transaction expenses) and 2020.

Barack Ferrazzano’s team was led by Robert M. Fleetwood who was assisted by Abdul R. Mitha and Katherine Fritzi Getz. Executive compensation and benefits were handled by Donald L. Norman and K.C. Klagos.

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 — in 2017 we were the #1 legal advisor in the U.S. by announced bank and thrift M&A transactions and 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 2018 report.

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