M&A Deal Summary

MidWestOne Bank Acquires First National Bank of Muscatine

On November 1, 2021, MidWestOne Bank acquired financial services company First National Bank of Muscatine for 48M USD

Acquisition Highlights
  • This is MidWestOne Bank’s 2nd transaction in the Financial Services sector.
  • This is MidWestOne Bank’s 2nd largest (disclosed) transaction.
  • This is MidWestOne Bank’s 2nd transaction in the United States.
  • This is MidWestOne Bank’s 2nd transaction in Iowa.

M&A Deal Summary
Date 2021-11-01
Target First National Bank of Muscatine
Sector Financial Services
Buyer(s) MidWestOne Bank
Deal Type Add-on Acquisition
Deal Value 48M USD

Target

First National Bank of Muscatine

Muscatine, Iowa, United States
Iowa First Bancshares Corp. was formed to serve as the bank holding company for First National Bank of Muscatine and First National Bank in Fairfield. Headquartered in Muscatine, Iowa, IOFB provides a wide array of banking and other financial services to individuals, businesses and governmental organizations through five banking offices in Iowa. Iowa First Bancshares Corp. was formed in 1984 and is based in Muscatine, Iowa.

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Buyer(S) 1

Buyer

MidWestOne Bank

Iowa City, Iowa, United States
Category Company
Founded 1934
Sector Financial Services
Employees732
Revenue 163M USD (2023)
DESCRIPTION

MidWestOne Bank is a provider of electronic delivery of financial services through its website, MidWestOne.com. MidWestOne is the parent company of MidWestOne Bank, which operates banking offices in Iowa, Minnesota, Wisconsin, Florida, and Colorado. MidWestOne Bank was founded in 1934 and is based in Iowa City.

DEAL STATS #
Overall 2 of 3
Sector (Financial Services) 2 of 3
Type (Add-on Acquisition) 2 of 3
State (Iowa) 2 of 2
Country (United States) 2 of 3
Year (2021) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-22 ATBancorp

Dubuque, Iowa, United States

ATBancorp, Inc. is a banking organization with assets in excess of approximately $1.4 billion serving nine communities through 17 banking facilities in Eastern and Central Iowa and Southwest Wisconsin.

Buy $170M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-23 MidWestOne Bank s Naples and Fort Myers Banking Operations

Naples, Florida, United States

MidWestOne Bank's Naples and Fort Myers Banking Operations provides financial services to clients in Florida.

Sell -
Mergr

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