October 17, 2017 / 12:23 AM / 2 months ago

BRIEF-Midland States Bancorp Inc to acquire Alpine Bancorporation

Oct 16 (Reuters) - Midland States Bancorp Inc:

* Midland States Bancorp Inc to acquire Alpine Bancorporation

* Midland States Bancorp Inc- entered into definitive agreement under which co to acquire Alpine in cash and stock transaction valued at about $181.0 million​

* Midland States Bancorp Inc - Alpine shares, in aggregate, will be exchanged for about 4.5 million shares of midland common stock and $33.3 million in cash​

* Midland States Bancorp- ‍transaction expected to be about 10pct accretive to co’s 2019 eps with tangible book value/ share dilution earn-back period of 3.5 years​

* ‍Transaction approved unanimously by each company’s board of directors and is expected to close during Q1 of 2018​

* Co expects to incur tangible book value per share dilution of approximately 6pct upon closing of transaction​

* Midland States Bancorp- ‍Keefe, Bruyette & Woods, a Stifel company served as financial advisor to Midland

* Midland States Bancorp- Sheshunoff & Co served as financial advisor to Alpine​ Source text for Eikon: Further company coverage:

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