logo
Intelligence
Tracking
Tools
logo
Intelligence
Tracking
Tools

Dmg Bancshares Inc. To Acquire Liberty Bancorp

Mar 01, 2022•almost 4 years ago

Acquiring Company

DMG Bancshares

Acquired Company

Liberty Bancorp

Real EstateLending And InvestmentsFinancial ServicesCommunity And LifestyleLending And InvestmentsFinancial Services

Description

DMG Bancshares Inc. (“DMG”) and Liberty Bancorp (“Liberty”) (OTCPK: LIBC) jointly announced today, the signing of a definitive merger agreement under which DMG will acquire Liberty in an all-cash transaction with a base consideration of approximately $31.2 million, or $35.19 per Liberty share for all Liberty shareholders. In addition to the base consideration, cash consideration of up to approximately $2.9 million, or $3.31 per Liberty share, for all Liberty shareholders, may become payable to Liberty shareholders at or following the closing depending on the occurrence of certain events.

Company Information

Company

DMG Bancshares

About

DMG Bancshares, Inc. (DMG) is the parent company of California First National Bank (CalFirst), a full-service commercial bank supporting businesses and entrepreneurs with an expertise in commercial real estate. The bank operates out of its Irvine, CA office and provides service to the greater Orange County and Los Angeles County markets. DMG was capitalized in early 2021 with capital commitments of $170 million. The executive officers and majority of the staff are all alumni of and were instrumental in the success of Grandpoint Bank which operated in Los Angeles from 2010 until it was sold in 2018.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed