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.
第一招商局位於印第安納州芒西市的納斯達克(Sequoia Capital：FRME)正在收購Level One Bancorp Inc.納斯達克(Sequoia Capital：LEVL)與密歇根州法明頓山(Farmington Hills)達成股票和現金交易，價值約3.235億美元。
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.
發生的事情：First Merchants和Level One合併後的實體將擁有約176億美元的資產，並在印第安納州、密歇根州、俄亥俄州和伊利諾伊州擁有122個銀行辦事處。First Merchants仍將是總部設在印第安納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.
這筆交易預計將在2022年上半年完成，等待大多數一級普通股股東和銀行業監管機構的批准。兩家公司沒有説明收購是否會導致裁員。
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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.
還發生了什麼：一級銀行行長蒂莫西·麥凱，首席貸款官兼公司祕書格雷戈裏·韋內特和風險管理幹事伊娃·斯柯洛克將加入First Merchants高管團隊。董事長兼首席執行官帕特里克·費林，首席人力資源官拉尼·巴雷特(Lani Barrett)和首席財務官大衞·沃克將在收購完成後卸任。
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.”
銀行沒有説明是否會在一級員工中裁員。然而，第一招商總裁邁克·斯特瓦爾T説，他的銀行的經營方式是專注於促進我們所服務社區的財務健康和繁榮。
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.
價格行動：截至發稿時，First Merchant的股價下跌5.3%，至41.19美元，Level One的股價上漲8.2%，至38.42美元。
Photo: First Merchants Bancorp
圖片：First Merchants Bancorp