The company said it could use proceeds for repaying debt and acquisitions, among other things.age%22:Hz�/̘
The merger will create a bank with more than $4 billion in assets.
First Merchants in Muncie, Ind., has agreed to buy Arlington Bank in Upper Arlington, Ohio.
The $1.9 billion deal – the largest announced in 2017 – will create a bank with nearly $20 billion in assets.
The South Carolina company plans to use proceeds for acquisitions and organic growth.
About $12 million of the proceeds will go toward exiting the Small Business Lending Fund.
Larry Mazza, MVB’s chief executive, joined the board at BillGO.
There is optimism that consolidation could bounce back from a lackluster 2016 as bank stock rally. At the same time, expectations of regulatory easing and tax reform could entice more banks to stay independent, at least in the short term.
