MidWestOne Financial Acquires Denver Bankshares (Bank of Denver)

September 27, 2023

MidWestOne Financial Group, Inc. entered into a definitive agreement to acquire Denver Bankshares, Inc., the parent company of the Bank of Denver, for $32.6 million in cash. The deal (expected to close Q1 2024) adds approximately $271.5 million in assets, $198.0 million in loans and $242.0 million in deposits and is intended to accelerate MidWestOne's expansion and scale in the Denver market.

Buyers
MidWestOne Financial Group, Inc.
Targets
Denver Bankshares, Inc. (Bank of Denver)
Sellers
Denver Bankshares shareholders (local family owners)
Location
Colorado, United States
Transaction Type
Buyout

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