Macatawa Bank to be acquired in $510M deal [Yahoo! Finance]
Macatawa Bank Corporation (MCBC)
Last macatawa bank corporation earnings: 10/24 04:15 pm
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Source: Yahoo! Finance
At a shareholders meeting Wednesday, the Macatawa Bank Corporation approved its acquisition by Wintrust Financial Corporation, a bank company based in the Chicago area. The majority of shareholders voted to approve the acquisition, Board of Macatawa Chairman Richard L. Postma said in a release. Two West Michigan credit unions announce planned merger “We are very pleased with the confidence our shareholders have expressed in this transaction, as 95 percent of shares voted were in favor of this transaction,” Postma said. “The reaction we have received from our customers, our community and our shareholders regarding our partnership with Wintrust has been very favorable and it is encouraging to see such a strong response with our shareholder vote.” In April, the two companies said the acquisition price is expected to be around $510.3 million, coming out to about $14.85 per share. Inside WOODTV.com: Building West Michigan Founded in 1997, Macatawa Bank has 26 locations through
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