MidWestOne Financial Group completes acquisition of Denver Bankshares
MidWestOne Financial Group acquired Denver Bankshares Inc., parent company of the Bank of Denver for $32.6 million. The Bank of Denver and MidWestOne Bank merged following the acquisition, effective Jan. 31. Denver Bankshares shareholders received $462.42 in cash in exchange for each share of the company’s stock under the terms of the merger agreement. With the addition of Denver Bankshares, MidWestOne would have total assets of approximately $6.7 billion, total loans held for investment of $4.3 billion, and total deposits of $5.6 billion as of Dec. 31, 2023.
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