Midland Capital Holdings Corporation Announces Acquisition Deal
Midland Capital Holdings Corporation Announces Acquisition
Midland Capital Holdings Corporation (the "Company") (OTC Pink Marketplace: MCPH) has recently been acquired by Midfed Acquisition Corp., led by experienced bank executives and investors. The acquisition signifies the transformation of Midland Capital, which oversees Midland Federal Savings and Loan Association. The merger consideration set at $31.65 per share, results in MCPH shares ceasing to be quoted on the OTC Pink Market.
Midland Federal's Commitment to Excellence
Midland Federal operates from four full-service branches. This financial institution has been a fixture in its communities, and with the recent changes, it aims to continue providing top-notch services. The transition to Midfed Acquisition Corp. presents new opportunities for increased product offerings and enhanced technology.
CEO Statements on Future Prospects
Kurt Fuchs, President of Midfed Acquisition Corp., expressed gratitude to the current Board of Directors, emphasizing a commitment to preserving the legacy of Midland Federal. Not only does this acquisition aim to cater to existing customers, but it also focuses on expanding services, enhancing technology, and ensuring that customer experiences remain exceptional.
Leadership and Stability
Paul Zogas, the Chief Executive Officer of both the Company and the Bank, reassured customers that familiar faces will continue serving them, highlighting that the investment from Midfed Acquisition Corp. is set to enhance the services and benefits offered to the community. There's a strong belief the continuity will make this transition smoother for all parties involved.
Expert Guidance Throughout the Process
Financial advising for both Midland Capital Holdings Corporation and Midland Federal is being provided by Hovde Group, LLC. Additionally, they are represented by Luse Gorman, PC as legal counsel. On the other side, Midfed Acquisition Corp. relies on advisory support from Bank Advisors, Ltd. along with legal representation from Barack Ferrazzano Kirschbaum & Nagelberg LLP. This expert guidance is crucial as the new management lays groundwork for future growth.
A Look at Midland Capital Holdings Corporation
Since its establishment in 1998, Midland Capital Holdings Corporation has been dedicated to supporting Midland Federal Savings and Loan Association. The bank itself boasts a rich history, having provided services within the Chicago metropolitan area since 1914. Through this acquisition, Midland Capital is poised for significant growth and increased ability to serve its customers.
Frequently Asked Questions
What is the significance of the acquisition of Midland Capital?
The acquisition signifies a new direction for Midland Capital Holdings Corporation, aiming to enhance customer services and expand product offerings.
Who is leading the acquisition?
Midfed Acquisition Corp., headed by experienced bank executives, is responsible for the acquisition.
What are the future plans for Midland Federal?
Midland Federal is focusing on increasing services, enhancing technology, and maintaining excellent customer relationships.
What happens to the MCPH shares after the acquisition?
As a result of the acquisition, shares of MCPH will no longer be quoted on the OTC Pink Market.
Is there continuity in the management team after the acquisition?
Yes, familiar faces such as Paul Zogas and his team will continue serving Midland Federal's customers, ensuring stability during transition.
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