MidWestOne Financial Group, Inc. Announces Board Appointments
May 01, 2019 at 08:46 am EDT
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On May 1, 2019, pursuant to the terms of the Merger Agreement, ATBancorp merged with and into MidWestOne Financial Group, Inc., with the company continuing as the surviving entity in the Merger. Immediately after the Merger, ATBancorp's wholly owned bank subsidiaries, American Trust & Savings Bank (ATSB) and American Bank & Trust Wisconsin, each merged with and into the company's wholly owned bank subsidiary, MidWestOne Bank (the Bank Merger"), with MidWestOne Bank as the surviving entity in the Bank Merger. Under the terms of the Merger Agreement, at the effective time of the Merger (the Effective Time") each share of common stock, no par value per share (except for shares that were owned directly by the Company or ATBancorp, subject to certain customary exceptions, which were canceled in the Merger, and dissenters' shares) of ATBancorp converted into the right to receive $992.51 and 117.5500 shares of common stock, $1.00 par value per share, of the company. Immediately following the Effective Time, Douglas H. Greeff and Richard J. Hartig were appointed to the Board of Directors of the company. Mr. Greeff was appointed as a Class I director for a term expiring at the 2020 annual meeting of the company's shareholders. Mr. Hartig was appointed as a Class II director for a term expiring at the 2021 annual meeting of the company's shareholders.
MidWestOne Financial Group, Inc. (MidWestOne) is a financial holding company. MidWestOne is the parent company of MidWestOne Bank (the Bank), which operates banking offices in Iowa, Minnesota, Wisconsin, Florida, and Colorado. MidWestOne provides electronic delivery of financial services through its Website, MidWestOne.bank. The Bank is focused on delivering relationship-based business and personal banking products and services. The Bank provides commercial loans, real estate loans, agricultural loans, credit card loans, and consumer loans. The Bank also provides deposit products, including demand and interest checking accounts, savings accounts, money market accounts, and time deposits. Complementary to its loan and deposit products, the Bank also provides products and services, including treasury management, Zelle, online and mobile banking, credit and debit cards, ATMs, and safe deposit boxes. The Bank also has a trust department and an investment services department.