Posted in Mergers & Acquisitions.
Closed June 1, 2016
Richard F. Maroney, Jr. served as lead advisor.
Horizon Bancorp ($2.6 billion), Inc., headquartered in Michigan City, Indiana, announced today that it will acquire Kosciusko Financial, Inc. (KFI), parent company of Farmers State Bank ($148 million), based in Mentone, Indiana, in a stock and cash transaction.
Under terms of the merger agreement, shareholders of KFI will have the option to receive $81.75 per share in cash or 3.0122 shares of Horizon common stock for each share of KFI common stock, or a combination of stock and cash, provided that the overall shares exchanged consist of 65 percent stock and 35 percent cash. Based on the February 3, 2016 closing price of $23.99 per share for Horizon common stock, the transaction is valued at approximately $22.5 million.
Richard F. Maroney, Jr., Managing Director and Principal of Austin Associates’ Investment Banking practice area, served as the lead advisor to KFI.Read Press Release See All Transactions