Mergers & Acquisitions

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Deal Overview

Buyer:
Frandsen Financial Corporation
Actual Acquirer:
Frandsen Bank & Trust
Target:
Branch assets & liabilities
Deal Type:
Bank & Thrift Branch
Seller:
Alerus Financial Corporation
Agreement Date:
1/3/2019
Announcement Date:
1/15/2019
Number of Target Branches
2
Branch Locations
Duluth (2)
MN
Franchise Premium ($ 000)
2,309
Tangible Book Premium/ Deposits (%)
8.37
Status:
Completed
Completion Date:
4/8/2019

Deal Terms
Description of Consideration

NA

Financials
Deposits ($ 000) 27,588
Total Assets ($ 000) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer NA NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Ballard Spahr LLP
Seller Yes Barack Ferrazzano Kirschbaum