DFCU Financial Acquires MidWestOne Bank's Florida Operations

DFCU Financial Acquires First Citrus Bank

January 3, 2023

Financial Services

DFCU Financial has completed its acquisition of First Citrus Bank and rebranded the combined operations as DFCU Financial. The deal expands DFCU's presence into the Tampa Bay/Florida market and brings First Citrus customers access to DFCU's broader product set including mortgages, consumer loans, and investment services.

Nicolet Bankshares Acquires MidWestOne Financial Group

February 17, 2026

Financial Services

Nicolet Bankshares, Inc. completed its merger with MidWestOne Financial Group, Inc., with MidWestOne merged into Nicolet and operating as a division of Nicolet National Bank until a planned system conversion in August 2026. The deal adds roughly $6 billion in assets, bringing Nicolet's pro forma assets to approximately $15 billion and expands Nicolet’s branch footprint across Iowa, the Twin Cities, Western Wisconsin, and Denver.

DFCU Financial Acquires Winter Park National Bank

November 8, 2024

Financial Services

DFCU Financial announced its intent to acquire Winter Park National Bank, a Winter Park, Florida-based commercial bank, expanding DFCU's Florida footprint. Winter Park National Bank, founded in 2017 with two branches and about 32 employees, will be retained under DFCU with CEO David Dotherow named Central Florida Area President; branches will be rebranded and integrated in 2025 pending regulatory approval.

MidWestOne Financial Acquires Denver Bankshares (Bank of Denver)

September 27, 2023

Financial Services

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.

Magnifi Financial Acquires Financial One Credit Union

October 1, 2022

Financial Services

Magnifi Financial merged with Financial One Credit Union effective October 1, 2022, following board approvals and a member vote. The combination expands Magnifi's presence in the greater Twin Cities (adding branches in Blaine, Coon Rapids and Columbia Heights), brings Financial One's indirect lending capability into the organization, and results in a combined organization with nearly $2 billion in assets, ~85,000 members and a 25-branch network.

Beacon Credit Union Acquires Mid-Southern Savings Bank, FSB

January 26, 2024

Financial Services

Beacon Credit Union (BCU) entered a definitive purchase and assumption agreement to acquire substantially all assets and assume substantially all liabilities of Mid-Southern Savings Bank, FSB (MSB). The deal — BCU's first community bank acquisition — expands Beacon's footprint in southern Indiana; it is subject to MSB shareholder and regulatory approvals and is expected to close in Q3 or Q4 2024. MSB leadership will transition into roles at BCU and BCU intends to keep MSB branches and loan production offices open following completion.