Kirkland & Ellis LLP represented Standard Bancshares, Inc., the parent holding company of Standard Bank and Trust Company, in connection with its merger with First Midwest Bancorp, Inc. (Nasdaq: FMBI), the parent company of First Midwest Bank. The merger is structured as an all stock transaction to Standard’s common shareholders and, based on the fixed exchange ratio as of the date of the signing, had an indicative value of $365 million. Founded in 1947, Standard operates 35 banking offices in the southwest Chicago suburbs and adjacent markets in northwest Indiana. Standard has total assets of approximately $2.5 billion with $2.1 billion in deposits, of which over 90 percent are core deposits, and $1.8 billion in loans, of which 80 percent are commercial-related. The full release is available here.
The Kirkland team was led by corporate partners Edwin del Hierro and Benjamin Clinger and associate Evan Knobloch. The Kirkland team also included partners Dean Bachus, Thad Davis, Matthew Antinossi, R. Timothy Stephenson, Roberto Miceli and Jonathan Kidwell.