FIG Has Now Completed 89 M&A Transactions Totaling More Than
$3.8 Billion In Transaction Value Since Inception
ATLANTA, September 18, 2017 — First American Bank Corporation has agreed to acquire Southport Financial Corporation, parent company of Southport Bank.
First American, the largest privately held bank in Illinois with total assets of $3.8 billion, has 49 branches in the Chicago market and one in Coral Gables, Florida. Southport Bank has total assets of $295 million and serves Kenosha County, Wisconsin.
The transaction will be all cash, with closing after year end pending shareholder and regulatory approvals.
“We’re excited to bring the quality local delivery capabilities of Southport into our organization, thereby enhancing our service to our existing Wisconsin clientele,” said Thomas Wells, First American’s CEO. “Additionally, we look forward to bringing expanded deposit and loan products to Southport’s team, which will continue to be led by Russ Weyers, as we expand further into Wisconsin’s vibrant privately held small business and residential communities. Russ will take on the title and responsibilities of First American’s Wisconsin Regional President.”
The FIG team included Greg Gersack, Senior Managing Principal and Co-Head of Investment Banking; Paul O’Connor, Principal; and Jason Werner, Vice President.
Since 2003, FIG has been the trusted advisor to community banks and investors. Year to date, FIG has advised on 14 M&A transactions totaling more than $625 million in transaction value.
To learn more, visit www.figpartners.com.