MACATAWA BANK CORP: M&A transaction — Wintrust completes acquisition of Macatawa Bank Corporation for ~$510.3M

MACATAWA BANK CORP

Macatawa shareholders received 0.137 shares of Wintrust per share; aggregate purchase price ~$510.3M ($14.85/share).
Macatawa Bank had ~$2.7B in assets, $2.3B deposits, $1.3B loans as of June 30, 2024.
Macatawa Common Stock delisted from Nasdaq; registration terminated; Macatawa ceases to exist.
Richard L. Postma appointed to Wintrust Board of Directors.
Transaction not expected to materially affect Wintrust's 2024 EPS.

item 2.01 item 3.01 item 3.03 item 5.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

MACATAWA BANK CORP underwent a change of control involving Wintrust Financial Corporation for $510.3 million, or $14.85 per share (closed 2024-08-01).

Action: change of control
Counterparty: Wintrust Financial Corporation
Consideration: $510.3 million, or $14.85 per share
Closing: 2024-08-01

Exact text from the filing

Richard L. Postma has been appointed to the Board of Directors of Wintrust. Terms of the Transaction The aggregate purchase price to Macatawa shareholders is approximately $510.3 million, or $14.85 per share. In the transaction, each of Macatawa’s 34,361,562 common shares outstanding at the time of the merger were converted into the right to receive merger

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Source: SEC EDGAR

accession 0001104659-24-084676

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