First Midwest Bancorp completed the acquisition of Park Bank for $195m.

First Midwest Bancorp, the main banking subsidiary of First Midwest Bancorp, completed the acquisition of Bankmanagers and its wholly owned subsidiary, Park Bank, for $195m. The merger agreement provided for a fixed exchange ratio of 29.9675 shares of First Midwest common stock, plus $623.02 in cash for each share of Bankmanagers. "First Midwest’s mission of helping its customers achieve financial success is aligned with our client-first approach. Joining First Midwest will enable us to both continue and enhance our commitment to relationship-banking as well as offer our customers a broader array of products and services. First Midwest is very familiar with the Milwaukee market, and we look forward to becoming part of the First Midwest family," David Werner, Park Bank President and CEO.