Recent Transactions
DFCU Financial Announces Transaction with First Citrus Bank
DFCU Financial has acquired First Citrus Bank THE TRANSACTION On May 12, 2022, the Boards of Directors of DFCU Financial (“DFCU”) and First Citrus Bancorporation, Inc., (OTCPK: FCIT), the holding company for First Citrus Bank (collectively “FCB”), announced the execution of a definitive agreement by which FCB will merge with DFCU in an all-cash transaction.…
Read MoreElgin Industries, Inc. has partnered with Main Street Capital
Elgin Industries, Inc. has partnered with Main Street Capital THE TRANSACTION On October 3, 2022, Elgin Industries, Inc. (“Elgin”), a leading manufacturer and distributor of high-quality engine and chassis components to the automotive and commercial truck aftermarkets and to OEM customers in the automotive, commercial vehicle, agriculture and other industrial markets, announced that it has…
Read MoreFirst Independence Corp. Completes Issuances of $66.6 Million in Preferred Stock
First Independence Corp. Completes Issuances of $66.6 Million in Preferred Stock THE TRANSACTION Detroit based First Independence Corporation, parent company of First Independence Bank, a Minority Depository Institution (MDI) and Community Development Financial Institution (CDFI), announced it has closed a series of nine preferred equity capital transactions totaling $66.6 million since the beginning of 2021.…
Read MoreHCI Equity has sold Terra Drive Systems, Inc. to a Private Investment Group
HCI Equity has sold Terra Drive Systems, Inc. to a Private Investment Group THE TRANSACTION On August 17, 2022, HCI Equity Partners (“HCI”), a leading lower middle market private equity firm focused on partnering with family and founder owned manufacturing, service and distribution companies, announced that it has sold its portfolio company Terra Drive Systems,…
Read MoreGulf Coast Business Bank has Completed its $23.6 Million Initial Common Stock Offering
Gulf Coast Business Bank has Completed its $23.6 Million Initial Common Stock Offering THE TRANSACTION On June 6, 2022, Gulf Coast Business Bank (“GCBB” or the “Bank”) completed its $23.6 million initial common stock offering which was over subscribed and exceeding the $20.5 million minimum amount of capital required to open the Bank. The offering…
Read MoreLake Michigan Credit Union to acquire Pilot Bank
Lake Michigan Credit Union has acquired Pilot Bank THE TRANSACTION On June 16, 2021, the Boards of Directors of Lake Michigan Credit Union (“LMCU”) and Pilot Bancshares, Inc, (OTCQX: PLBN), the holding company for Tampa-based Pilot Bank and National Aircraft Finance Company (“NAFCO”) (collectively “Pilot”), today announced the execution of a definitive agreement by which…
Read MoreUnion Financial Corporation has Completed a $6.0 Million Subordinated Notes Offering
Union Financial Corporation has Completed a $6.0 Million Subordinated Notes Offering THE TRANSACTION On December 17, 2021, Union Financial Corporation (“Union”), the holding company for Union Bank, announced the closing of a private placement of $6.0 million in aggregate principal amount of its 3.50% fixed-to-floating rate subordinated notes due 2031 (the “Notes”). The Company intends…
Read MoreProgress Mfg. Inc. has been Acquired by DexKo Global
Progress Mfg. Inc. has been Acquired by DexKo Global THE TRANSACTION On December 8, 2021, Progress Mfg. Inc. (“Progress”), a leading manufacturer of high-quality, custom-engineered, safety-critical towing and trailering products, such as integrated sway control and weight distribution hitches, announced that it has been acquired by Dexter Axle Company (“Dexter”), a wholly-owned subsidiary of DexKo…
Read MoreFirst Independence Corporation has Completed a Preferred Stock Offering.
First Independence Corporation has Completed a Preferred Stock Offering. THE TRANSACTION On December 1, 2021, Detroit based First Independence Corporation, parent company of First Independence Bank, a minority depository institution, announced that it has closed equity capital investments with three commercial banking institutions. The 51 year old financial institution received equity investments from Citicorp, headquartered…
Read MoreFarmers State Bank of Munith has been acquired by Fentura Financial, Inc.
Farmers State Bank of Munith has been acquired by Fentura Financial, Inc. THE TRANSACTION On June 22, 2021, the boards of directors of Fentura Financial, Inc. (OTCQX: FETM), the holding company for Fenton-based The State Bank, and Farmers State Bank based in Munith, today announced the execution of a definitive agreement by which Fentura Financial,…
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