SpareBank 1 Sørøst-Norge (OB:SOON) signs letter of intent to acquire SpareBank 1 Modum on September 15, 2021. The merged bank will continue under the name SpareBank 1 Sørøst-Norge. The deal is expected to be completed by early April 2022. As on December 15, 2021,The Supervisory Boards and the General Meeting in SpareBank 1 Sørøst-Norge and SpareBank 1 Modum respectively, have in meetings on December 16, 2021, approved the merger of the two banks. SpareBank 1 Markets AS acted as financial advisor to SpareBank 1 Sørøst-Norge and SpareBank 1 Modum in the deal. Advokatfirmaet Selmer DA acted as legal advisor to SpareBank 1 Sørøst-Norge and SpareBank 1 Modum in the deal.

SpareBank 1 Sørøst-Norge (OB:SOON) completed the acquisition of SpareBank 1 Modum on April 1, 2022. Norwegian Competition Authority has approved the deal. Financial Supervisory Authority of Norway gave the Bank the necessary permissions to execute the merger March 3, 2022.