Midland Capital Holdings Corporation Acquired by Investor Group
Midland Capital Holdings (OTC Pink: MCPH), the holding company of Midland Federal Savings and Loan Association, has been acquired by Midfed Acquisition Corp, a group led by experienced bank executives and investors. The merger consideration is $31.65 per share, and MCPH shares have ceased trading on the OTC Pink Market. As of June 30, 2024, Midland Federal had $114.9 million in total assets and $10.4 million in total equity capital.
The acquisition aims to expand product offerings, enhance technology, and improve community convenience while maintaining customer experience. Midland Federal's current management team, including Joe Kirkeeng (President and CEO) and Scott Hamer (CFO), will continue to lead the organization. The acquirers express commitment to Midland Federal's customers and employees, emphasizing their intention to build upon the bank's legacy.
Midland Capital Holdings (OTC Pink: MCPH), la holding di Midland Federal Savings and Loan Association, è stata acquisita da Midfed Acquisition Corp, un gruppo guidato da esperti dirigenti bancari e investitori. Il prezzo di fusione è di 31,65 dollari per azione e le azioni del MCPH hanno smesso di essere negoziate sul mercato OTC Pink. Al 30 giugno 2024, Midland Federal aveva 114,9 milioni di dollari in attivi totali e 10,4 milioni di dollari di capitale proprio totale.
L'acquisizione mira a espandere l'offerta di prodotti, migliorare la tecnologia e facilitare la convenienza per la comunità, mantenendo l'esperienza del cliente. Il team di gestione attuale di Midland Federal, incluso Joe Kirkeeng (Presidente e CEO) e Scott Hamer (CFO), continuerà a guidare l'organizzazione. Gli acquirenti esprimono impegno verso i clienti e i dipendenti di Midland Federal, sottolineando la loro intenzione di costruire sull'eredità della banca.
Midland Capital Holdings (OTC Pink: MCPH), la empresa matriz de Midland Federal Savings and Loan Association, ha sido adquirida por Midfed Acquisition Corp, un grupo liderado por ejecutivos bancarios e inversores experimentados. La consideración de la fusión es de 31,65 dólares por acción, y las acciones de MCPH han dejado de cotizar en el mercado OTC Pink. A 30 de junio de 2024, Midland Federal tenía 114,9 millones de dólares en activos totales y 10,4 millones de dólares en capital de patrimonio total.
La adquisición tiene como objetivo ampliar la oferta de productos, mejorar la tecnología y facilitar la conveniencia para la comunidad, manteniendo la experiencia del cliente. El equipo de gestión actual de Midland Federal, incluyendo a Joe Kirkeeng (Presidente y CEO) y Scott Hamer (CFO), continuará dirigiendo la organización. Los adquirentes expresan su compromiso con los clientes y empleados de Midland Federal, enfatizando su intención de construir sobre el legado del banco.
미드랜드 캐피털 홀딩스 (OTC 핑크: MCPH), 미드랜드 연방 저축 및 대출 협회의 모회사, 가 미드페드 인수 법인에 의해 인수되었습니다. 이 그룹은 경험이 풍부한 은행 경영진 및 투자자들에 의해 이끌어집니다. 합병 고려액은 주당 31.65달러입니다, 그리고 MCPH 주식은 OTC 핑크 시장에서 거래를 중단했습니다. 2024년 6월 30일 기준으로 미드랜드 연방은 총 자산이 1억 1천490만 달러이며 총 자본이 1천40만 달러입니다.
이번 인수의 목적은 제품 제공을 확장하고, 기술을 향상시키며, 지역 사회 편의를 개선하는 것입니다. 고객 경험을 유지하면서 말이죠. 미드랜드 연방의 현재 경영 팀인 조 커킨(회장 겸 CEO)과 스캇 해머(CFO)는 조직을 계속 이끌 것입니다. 인수자들은 미드랜드 연방의 고객과 직원에 대한 헌신을 표현하며, 은행의 유산을 이어 나가겠다는 의도를 강조합니다.
Midland Capital Holdings (OTC Pink : MCPH), la société mère de Midland Federal Savings and Loan Association, a été acquise par Midfed Acquisition Corp, un groupe dirigé par des dirigeants bancaires et des investisseurs expérimentés. La considération de la fusion est de 31,65 $ par action, et les actions de MCPH ont cessé d'être négociées sur le marché OTC Pink. Au 30 juin 2024, Midland Federal avait 114,9 millions de dollars d'actifs totaux et 10,4 millions de dollars de capital propre total.
L'acquisition vise à élargir l'offre de produits, améliorer la technologie et renforcer la commodité pour la communauté, tout en maintenant l'expérience client. L'équipe de direction actuelle de Midland Federal, y compris Joe Kirkeeng (Président et CEO) et Scott Hamer (CFO), continuera à diriger l'organisation. Les acquéreurs expriment leur engagement envers les clients et les employés de Midland Federal, soulignant leur intention de bâtir sur l'héritage de la banque.
Midland Capital Holdings (OTC Pink: MCPH), die Holdinggesellschaft der Midland Federal Savings and Loan Association, wurde von der Midfed Acquisition Corp erworben, einer Gruppe, die von erfahrenen Bankmanagern und Investoren geleitet wird. Die Fusionsverpflichtung beträgt 31,65 US-Dollar pro Aktie, und die MCPH-Aktien haben den Handel am OTC-Pink-Markt eingestellt. Zum 30. Juni 2024 verfügte Midland Federal über 114,9 Millionen US-Dollar an Gesamtkapital und 10,4 Millionen US-Dollar an Gesamteigenkapital.
Die Übernahme zielt darauf ab, das Produktangebot zu erweitern, die Technologie zu verbessern und den Komfort für die Gemeinschaft zu erhöhen, während das Kundenerlebnis erhalten bleibt. Das bestehende Managementteam von Midland Federal, einschließlich Joe Kirkeeng (Präsident und CEO) und Scott Hamer (CFO), wird weiterhin die Organisation leiten. Die Erwerber betonen ihr Engagement für die Kunden und Mitarbeiter von Midland Federal und heben ihren Plan hervor, das Erbe der Bank weiter auszubauen.
- Acquisition at $31.65 per share, providing immediate value to shareholders
- Commitment to expand product offerings and enhance technology
- Retention of experienced management team with local market knowledge
- Potential for improved community services and customer experience
- Delisting from OTC Pink Market, potentially reducing liquidity for remaining shareholders
- Possible integration challenges and operational changes following the acquisition
Midland Federal operates from four full service locations in
Kurt Fuchs, the President of Midfed Acquisition Corp., stated, "We wish to thank the current Board of Directors of Midland Federal for the opportunity to expand on the Midland Federal legacy. We are committed to Midland Federal's customers and employees, and our investment in the Bank will allow us to increase the products and services offered by the Bank, enhance technology and enhance community convenience, while maintaining an exceptional customer experience. The management team lead by Joe Kirkeeng, President and Chief Executive Officer and Scott Hamer, Chief Financial Officer, bring decades of industry and local market experience to the organization."
Paul Zogas, Chief Executive Officer of the Company and the Bank, said, "We believe that Midfed Acquisition Corp.'s investment in the Bank will expand on the product offerings for our customers and community. Our customers will continue to see the same friendly faces they have always seen at Midland Federal. This is an exciting time for Midland Federal, our customers and the communities we serve."
Midland Capital Holdings Corporation and Midland Federal are being advised by Hovde Group, LLC as financial advisor and Luse Gorman, PC as legal counsel. Midfed Acquisition Corp. is being advised by Bank Advisors, Ltd. as financial advisors and Barack Ferrazzano Kirschbaum & Nagelberg LLP as legal counsel.
About Midland Capital Holdings Corporation and Midland Federal Savings and Loan Association
Midland Capital Holdings Corporation has served as the holding company of Midland Federal Savings and Loan Association since 1998. Midland Federal has operated continuously in the
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SOURCE Midland Capital Holdings Corporation
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