M&A Deal Summary

First Midwest Bank Acquires Bridgeview Bank Group

On December 6, 2018, First Midwest Bank acquired financial services company Bridgeview Bank Group from BankCap Partners for 145M USD

Acquisition Highlights
  • This is First Midwest Bank’s 17th transaction in the Financial Services sector.
  • This is First Midwest Bank’s 3rd largest (disclosed) transaction.
  • This is First Midwest Bank’s 17th transaction in the United States.
  • This is First Midwest Bank’s 12th transaction in Illinois.

M&A Deal Summary

Date 2018-12-06
Target Bridgeview Bank Group
Sector Financial Services
Buyer(s) First Midwest Bank
Sellers(s) BankCap Partners
Deal Type Add-on Acquisition
Deal Value 145M USD

Target

Bridgeview Bank Group

Beach Park, Illinois, United States
website
Bridgeview Bank Group offers savings accounts, business accounts, home mortgages, and competitive loan products. Bridgeview Bank is a client-focused bank committed to providing an outstanding banking experience for all of its personal and business banking clients. It provides this experience through 13 banking locations throughout greater Chicagoland.

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Buyer(S) 1

Buyer

First Midwest Bank

Chicago, Illinois, United States

website


Category Company
Founded 1982
Sector Financial Services
Employees2,074
Revenue 720M USD (2020)
DESCRIPTION

First Midwest Bank is a provides a full range of both business and retail banking and trust and investment management services through some 100 offices located in 64 communities primarily in metropolitan Chicago. First Midwest Bank was founded in 1982 and is based in Chicago, Illinois.


DEAL STATS #
Overall 17 of 18
Sector (Financial Services) 17 of 18
Type (Add-on Acquisition) 11 of 12
State (Illinois) 12 of 13
Country (United States) 17 of 18
Year (2018) 2 of 2
Size (of disclosed) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-07 NorStates Bank

Waukegan, Illinois, United States

NorStates Bank is a wholly-owned subsidiary of Northern States and maintains its principal executive offices in Waukegan, Illinois. NorStates Bank is a client-focused bank committed to providing quality financial services with a personal touch through a complete line of loan, deposit and cash management services. It provides these financial services through eight banking locations in Lake County, Illinois.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-14 Bridgeview Bancorp

Bridgeview, Illinois, United States

Bridgeview Bancorp, Inc. is a wholly owned subsidiary of Bridgeview and maintains its principal executive offices in Bridgeview, Illinois. Bridgeview Bank is a client-focused bank committed to providing an outstanding banking experience for all its personal and business banking clients. It provides this experience through 13 banking locations throughout greater Chicagoland.

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Seller(S) 1

SELLER

BankCap Partners

Dallas, Texas, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2005
Size Middle-Market
Type Sector Focused
DESCRIPTION

BankCap Partners is a private equity firm that targets investments in the commercial banking sector. BankCap looks to form and fund mid-sized banks focused on serving middle-market businesses. BankCap will partner with experienced management teams in completing transactions and seeks to initially commit between $5 and $40 million per investment. In addition to funding banks, BankCap will also consider investments in the broader financial services sector. BankCap Partners was formed in 2005 and is based in Dallas, Texas.


DEAL STATS #
Overall 4 of 4
Sector (Financial Services) 4 of 4
Type (Add-on Acquisition) 1 of 1
State (Illinois) 1 of 1
Country (United States) 4 of 4
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-01 First Bank

Hamilton, New Jersey, United States

First Bank is a New Jersey state-chartered bank with 14 full-service branches in Cranbury, Denville, Ewing, Flemington, Hamilton, Lawrence, Randolph, Somerset and Williamstown, New Jersey, and Trevose, Doylestown, Warminster, Bensalem and Levittown, Pennsylvania. With $1.2 billion in assets as of June 30, 2017, First Bank offers a traditional range of deposit and loan products to individuals and businesses throughout the New York City to Philadelphia corridor. First Bank was founded in 2007 and is based in Hamilton, New Jersey.

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