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M&A Deal Summary

Durand State Bank Acquires Solutions Bank

On April 1, 2021, Durand State Bank acquired financial services company Solutions Bank

Acquisition Highlights
  • This is Durand State Bank’s 1st transaction in the Financial Services sector.
  • This is Durand State Bank’s 1st transaction in the United States.
  • This is Durand State Bank’s 1st transaction in Illinois.

M&A Deal Summary
Date 2021-04-01
Target Solutions Bank
Sector Financial Services
Buyer(s) Durand State Bank
Deal Type Merger
Advisor(s) Wipfli Corporate Finance Advisors (Financial)
Howard & Howard Attorneys (Legal)

Target

Solutions Bank

Forreston, Illinois, United States
Formed in 1887, Solutions Bank is a provider of financial services with five locations across three Illinois counties, total assets of $349 million, loans of $155 million, and deposits of $272 million based on financial information as of December 31, 2020.

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Buyer(S) 1

Buyer

Durand State Bank

Durand, Illinois, United States
Category Company
Founded 1957
Sector Financial Services
DESCRIPTION

Durand State Bank, founded in 1957, is based in Durand, Illinois with an additional office in Davis, Illinois. Durand State Bank provides financial services with total assets of $120 million, loans of $57 million, and deposits of $107 million.

DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Merger M&A Deals 1 of 1
State: Illinois M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2021 M&A 1 of 1
Mergr

Solution for

Product

Company

Legal