MidWestOne in Iowa Raises $8.4M in Private Placement

By Tanaya Macheel June 25, 2015, 2:46 p.m. EDT 1 Min Read

M&A

MidWestOne in Iowa to Buy Central Bank in Minn. for $134M

MidWestOne Financial Group in Iowa City has agreed to buy Central Bancshares in Golden Valley, Minn.

By Paul Davis

November 21
M&A

MidWestOne to Press M&A Advantage in Minnesota

The company recently completed its purchase of Central Bancshares. Following a methodically spaced-out integration, management expects it will be in a special position to do more deals in the state because MidWestOne is publicly traded.

By Robert Barba

May 7

MidWestOne Financial Group in Iowa City, Iowa has raised $8.4 million in a private placement of its common stock.

The $1.8 billion-asset holding company sold 300,000 newly issued shares at $28 per share, and it received net proceeds of $7.9 million after expenses and fees. Each purchaser was an existing MidWestOne shareholder. The sale closed on Tuesday.

MidWestOne plans to use the proceeds to retire certain debt instruments and expand its bank subsidiaries, MidWestOne Bank in Iowa City and Central Bank in Golden Valley, Minn.

Sandler O'Neill & Partners was placement agent for the offering. Barack Ferrazzano Kirschbaum & Nagelberg was legal counsel to MidWestOne.

Tanaya Macheel

Reporter

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