Exciting Developments for Midland Capital Holdings Corporation
Midland Capital Holdings Corporation's New Chapter
Midland Capital Holdings Corporation (OTC Pink Marketplace: MCPH) is entering an exciting new phase following its acquisition by Midfed Acquisition Corp. This corporation, backed by a group of adept bank executives and investors, aims to build upon the legacy of Midland Federal Savings and Loan Association.
The Acquisition Details
The transaction, which includes a per share merger consideration of $31.65, marks a significant turning point for the company. Following the completion of the merger, shares of MCPH will no longer be quoted on the OTC Pink Market, signifying a fresh start for the organization.
Midland Federal's Operations
Midland Federal operates through several conveniently located full-service branches, bringing banking closer to its community. As of the latest financial review, the company boasts total assets of approximately $114.9 million and total equity capital of about $10.4 million.
Voices Behind the Merger
Kurt Fuchs, President of Midfed Acquisition Corp., emphasizes the commitment to expanding services and maintaining strong customer relations. Fuchs noted that the expertise of the management team, including notable figures like Joe Kirkeeng, President and CEO, and Scott Hamer, Chief Financial Officer, is critical for driving success and fostering a seamless experience for customers.
A Bright Future for Midland Federal
Paul Zogas, the CEO of Midland Capital Holdings and Midland Federal, expresses optimism regarding the investment from Midfed. He assures customers that they will continue seeing familiar faces at Midland Federal, reinforcing a sense of continuity and trust. This acquisition is not merely a business transaction; it's an opportunity to enhance product offerings and improve the banking experience for the community.
Advisors in the Process
The merger is supported by a network of professionals, with Hovde Group, LLC advising Midland Capital Holdings in financial matters, while Luse Gorman, PC provides legal counsel. Meanwhile, Midfed Acquisition Corp. benefits from the guidance of Bank Advisors, Ltd. for financial advice and legal assistance from Barack Ferrazzano Kirschbaum & Nagelberg LLP.
About Midland Capital and Midland Federal
For decades, Midland Capital Holdings Corporation has acted as the holding entity for Midland Federal Savings and Loan Association, which has proudly served the community since 1914. The bank continues to promote financial strength and customer satisfaction through its robust services and community initiatives.
Frequently Asked Questions
What is the recent acquisition related to Midland Capital Holdings Corporation?
The company has been acquired by Midfed Acquisition Corp., focusing on expanding its services and enhancing customer experience.
What are the financial highlights of Midland Federal?
As of the latest review, Midland Federal has total assets of approximately $114.9 million and equity capital of about $10.4 million.
Who are the key executives involved in the merger?
Kurt Fuchs leads Midfed, with Joe Kirkeeng and Scott Hamer at Midland Federal contributing their extensive experience to the organization.
What changes can customers expect after the acquisition?
Customers will continue to encounter familiar staff, while benefitting from an expanded range of services and enhanced technology.
What has been the historical significance of Midland Federal?
Midland Federal has been an integral part of the community since 1914, emphasizing customer satisfaction and local economic development.
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