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Announced

Completed

MidWestOne Financial Group completed the acquisition of Iowa First Bancshares for $47m.

Financials

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Transaction Value£37m
Consideration TypeContingent Deferred Consideration, Cash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Domestic

Majority

Public

Single Bidder

credit & loan

business banking

Banks

United States

Completed

Friendly

Acquisition

Synopsis

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MidWestOne Financial Group, a financial holding company, completed the acquisition of Iowa First Bancshares, the parent company of First National Bank of Muscatine and First National Bank in Fairfield, for $47m. “First National customers will be pleased with the additional products, services, and new technology platforms that they will soon have access to. We have joined together like-minded community banks in Iowa. Our teams are looking forward to working together," Wayne Johanson, First National Bank CEO.

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