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)
- Industry
- Financial Services
- Location
- Colorado, United States
- Transaction Type
- Buyout
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