Old Second Bancorp (OSBC) has agreed to acquire Bancorp Financial in a cash and stock deal valued at about $197 million, the companies said Tuesday.
Under the terms, Bancorp Financial stockholders will receive 2.5814 shares of Old Second and $15.93 in cash for each share they own, for an implied purchase price is $62.60 per share, the companies said.
The deal is expected to close in Q3, the companies said.
Old Second Bancorp shares were 1% higher in recent trading.
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