MVB Financial, the holding company for MVB Bank, entered into a definitive merger agreement pursuant to which MVB will acquire Integrated Financial Holdings (IFH) in an all-stock transaction.
Wells Fargo Capital Finance UK led a £70 million ($93.6 million) asset-based lending facility with BNP Paribas Commercial Finance for Mach Recruitment.
Peoples Bank entered into a definitive agreement to acquire Vantage Financial, a provider of equipment financing headquartered in Excelsior, MN. Peoples Bank will purchase 100% of the equity of Vantage Financial for total cash consideration of $54 million.
Webster Financial and Sterling Bancorp completed their previously announced merger. The combined company is a financial institution with a funding base that includes HSA Bank as well as consumer and commercial banking businesses.
Patriot National Bancorp will acquire digital banking company American Challenger Development via a reverse subsidiary merger, with American Challenger surviving as a wholly-owned subsidiary of Patriot.
Old National Bancorp and First Midwest Bancorp entered into a definitive merger agreement to combine in an all-stock merger of equals transaction with a total market value of $6.5 billion to create a bank with $45 billion in combined assets.
Robert P. Reynolds was elected president of the American Bankruptcy Institute. In addition, Hon. Kevin J. Carey of Hogan Lovells was named president-elect and Eve H. Karasik was elected to serve as the ABI’s first vice president of diversity and inclusion.
The boards of directors of Webster Financial and Sterling Bancorp unanimously approved a definitive agreement under which the two companies will combine in an all-stock merger of equals transaction with a total market value of approximately $10.3 billion.
The American Bankruptcy Institute selected Chief Bankruptcy Judge Barbara J. Houser as president of the board of directors for a one-year term. In addition to Houser’s appointment, Robert P. Reynolds was named president-elect and will become president in April 2021.
Nuverra Environmental Solutions emerged from bankruptcy protection with more than $70 million in new financing provided by ACF Finco I, an entity managed by Ares Management, Ascribe Capital, and Gates Capital Management.