Bank First has agreed to pay $76 million in cash and stock for Waupaca Bancorp. The company should have nearly $1.8 billion in assets when it completes the deal.
PrivateBancorp investors approved a $4.9 billion takeover by Canadian Imperial Bank of Commerce after the Toronto-based lender sweetened its deal twice to win over shareholders.
Stonegate Bank in Florida figured its balance sheet was too small and undiversified to stay independent. But it was choosy in approaching potential buyers and aggressively scrutinized the lead bidder’s loan book.
The post-election rally in banking stocks has given certain buyers the ability to make acquisitions that would add to tangible book value, perhaps making it easier for them to pursue more deals.
