Northwest Bancshares, Inc. enters attractive Indiana markets through merger with MutualFirst Financial, Inc.
MUTUALFIRST FINANCIAL (MFSF)
Last mutualfirst financial earnings: 1/31 02:00 pm
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US:NASDAQ Investor Relations:
snl.com/irw/corporateprofile/4050583
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Source: PR Newswire
WARREN, Pa. and MUNCIE, Ind., Oct. 29, 2019 /PRNewswire/ -- Northwest Bancshares, Inc., ("Northwest"), (NASDAQ: NWBI) and MutualFirst Financial, Inc., ("MutualFirst") (NASDAQ: MFSF) jointly announced the signing of a definitive merger agreement pursuant to which Northwest will acquire MutualFirst, the Muncie, Indiana-based holding company and parent of MutualBank, in an all-stock transaction valued at $39.89 per share (based on Northwest's 15-day volume weighted average closing stock price ending on October 23, 2019), or approximately $346 million in the aggregate.The transaction is immediately accretive to Northwest's earnings per share, excluding merger costs, and increases its stand-alone earnings per share by over 10% on a run-rate basis. Further, it gives Northwest access to an attractive new region of prospective customers. The acquisition provides Northwest with an additional $2.1 billion in total assets, $1.6 billion in total deposits, $1.5 billion in loans and 39 banking loca
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