MidWestOne Financial Group, Inc. (NasdaqGS:MOFG) entered into a definitive merger agreement to acquire Denver Bankshares, Inc. (OTCPK:DNVB) for $32.6 million on September 26, 2023. MidWestOne will pay $462.42 per share in cash to the shareholders of Denver Bankshares. The transaction is subject to Denver Bankshares shareholder approval and customary regulatory approvals. The transaction has been approved by the respective board of directors, and is expected to close in the first quarter of 2024. Piper Sandler & Co. served as financial advisor and Robert M. Fleetwood, Andrew K. Strimaitis and Michael Poland of Barack Ferrazzano Kirschbaum & Nagelberg LLP provided legal counsel to MidWest One . Brian Palmer and Christopher Olsen of Olsen Palmer LLC served as financial advisor and Spierer, Woodward, Corbalis & Goldberg provided legal counsel to Denver Bankshares.

MidWestOne Financial Group, Inc. (NasdaqGS:MOFG) completed the acquisition of Denver Bankshares, Inc. (OTCPK:DNVB) on January 31, 2024.