Dec. 31, 2015, 5:26 PM
- MB Financial (MBFI -2.1%) says it's completed an acquisition of MSA Holdings, the parent of MainStreet Investment Advisors and Cambium Asset Management.
- MainStreet acts as an advisory firm for bank and independent trust companies as well as insurance companies. Cambium, meanwhile, deals in wealth management for individuals, families, foundations, endowments and institutions.
- The deal should be slightly accretive to 2016 EPS, MB Financial says, though it didn't disclose financial terms of the deal.
- MB Financial's subsidiary MB Financial Bank has about $15B in assets.
Aug. 18, 2014, 9:41 AM
- It's the largest merger ever of two Chicago-based banks, says MB Financial (MBFI +1.7%) CEO Mitchell Feiger. With Cole Taylor Bank folded into MB Financial Bank, the combined lender has nearly $15B in assets.
Jul. 15, 2013, 3:10 AM
MB Financial (MBFI) has agreed to acquire Taylor Capital (TAYC) for $680M in cash and stock, with MB's offer of $22 a share representing a premium of 24% on Taylor Capital's closing price of $17.81 on Friday. MB expects the deal to double the company's commercial banking market share in the Chicago area, and to immediately add to its earnings. (PR)| Jul. 15, 2013, 3:10 AM