First Merchants Bancorp Acquires Level One Bancorp For $323.5M
First Merchants Bancorp Acquires Level One Bancorp For $323.5M
Related: EXCLUSIVE: CoinFlip CEO Ben Weiss Seeks To Make Buying Crypto EasierFirst Merchants Corporation (NASDAQ:FRME) of Muncie, Indiana, is acquiring Level One Bancorp Inc. (NASDAQ:LEVL) of Farmington Hills, Michigan, in a stock and cash transaction valued at approximately $323.5 million.
第一招商局位于印第安纳州芒西市的纳斯达克(Sequoia Capital：FRME)正在收购Level One Bancorp Inc.纳斯达克(Sequoia Capital：LEVL)与密歇根州法明顿山(Farmington Hills)达成股票和现金交易，价值约3.235亿美元。
What Happened: The combined entity of First Merchants and Level One will have assets of approximately $17.6 billion and 122 banking offices across Indiana, Michigan, Ohio and Illinois.
First Merchants will remain the second largest financial holding company headquartered in Indiana.
发生的事情：First Merchants和Level One合并后的实体将拥有约176亿美元的资产，并在印第安纳州、密歇根州、俄亥俄州和伊利诺伊州拥有122个银行办事处。First Merchants仍将是总部设在印第安纳州的第二大金融控股公司。
The transaction is expected to be completed in the first half of 2022, pending approval from a majority of Level One common shareholders and from banking regulators. The companies did not state if there would be job eliminations as a result of the acquisition.
这笔交易预计将在2022年上半年完成，等待大多数一级普通股股东和银行业监管机构的批准。两家公司没有说明收购是否会导致裁员。
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What Else Happened: Level One Bank President Timothy Mackay, Chief Lending Officer and Corporate Secretary Gregory Wernette and Risk Management Officer Eva Scurlock will join the First Merchants executive team. Chairman and CEO Patrick Fehring, Chief Human Resources Officer Lani Barrett and Chief Financial Officer David Walker will step down after the acquisition is completed.
还发生了什么：一级银行行长蒂莫西·麦凯，首席贷款官兼公司秘书格雷戈里·韦内特和风险管理干事伊娃·斯柯洛克将加入First Merchants高管团队。董事长兼首席执行官帕特里克·费林，首席人力资源官拉尼·巴雷特(Lani Barrett)和首席财务官大卫·沃克将在收购完成后卸任。
The banks did not say if there would be layoffs across the Level One workforce. However, First Merchants President Mike Stewart said his bank’s “operating approach is focused on enhancing the financial wellness and prosperity of the communities we serve.”
银行没有说明是否会在一级员工中裁员。然而，第一招商总裁迈克·斯特瓦尔T说，他的银行的经营方式是专注于促进我们所服务社区的财务健康和繁荣。
Price Action: First Merchant's stock is down 5.3% to $41.19 at press time, while Level One's stock is up 8.2% at $38.42.
价格行动：截至发稿时，First Merchant的股价下跌5.3%，至41.19美元，Level One的股价上涨8.2%，至38.42美元。
Photo: First Merchants Bancorp
图片：First Merchants Bancorp