M&A Deal Summary

First Midwest Bank Acquires Palos Bank and Trust

On August 13, 2010, First Midwest Bank acquired financial services company Palos Bank and Trust from Federal Deposit Insurance

Acquisition Highlights
  • This is First Midwest Bank’s 9th transaction in the Financial Services sector.
  • This is First Midwest Bank’s 9th transaction in the United States.
  • This is First Midwest Bank’s 5th transaction in Illinois.

M&A Deal Summary
Date 2010-08-13
Target Palos Bank and Trust
Sector Financial Services
Buyer(s) First Midwest Bank
Sellers(s) Federal Deposit Insurance
Deal Type Divestiture

Target

Palos Bank and Trust

Palos Heights, Illinois, United States
Palos Bank and Trust Company provides personal, commercial, and online banking services.

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Buyer(S) 1

Buyer

First Midwest Bank

Chicago, Illinois, United States
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 9 of 18
Sector (Financial Services) 9 of 18
Type (Divestiture) 3 of 6
State (Illinois) 5 of 13
Country (United States) 9 of 18
Year (2010) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-23 Peotone Bank and Trust

Peotone,, Illinois, United States

First Midwest Bank. Peotone Bank and Trust Company offers personal and commercial banking services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-02 Old National Bank Chicago Deposits & Plainfield South facility

United States

Old National Bank, Chicago Deposits & Plainfield South facility comprises a facility and bank deposits worth $185 million. The deposits are located in Bridgeview, Mokena, and Plainfield, Illinois. The facility is located Plainfield, Illinois.

Buy -

Seller(S) 1

SELLER

Federal Deposit Insurance

Washington, District of Columbia, United States
Category Company
Founded 1933
Sector Financial Services
DESCRIPTION

Federal Deposit Insurance Corp. provides financial services.The FDIC provides coverage for deposits in national banks, in state banks that are members of the Federal Reserve System, and in other qualified state banks.

DEAL STATS #
Overall 19 of 41
Sector (Financial Services) 19 of 41
Type (Divestiture) 19 of 41
State (Illinois) 3 of 4
Country (United States) 19 of 41
Year (2010) 10 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-30 Northwest Bank & Trust of Acworth

Acworth, Georgia, United States

Northwest Bank & Trust of Acworth offers personal and commercial banking services. The bank was founded in 2004 and is based in Acworth, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-20 Sonoma Valley Bank

Sonoma, California, United States

Sonoma Valley Bank provides financial services. Sonoma Valley Bank reported deposits totaling $256 million and loans totaling $241 million.

Sell -
Mergr

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