HOLLAND, Mich. - Macatawa Bank Corporation (NASDAQ: MCBC) announced today that its shareholders have approved the proposed acquisition by Wintrust Financial (NASDAQ:WTFC) Corporation (NASDAQ: WTFC). In a decisive vote, 95% of the shares cast at the Special Meeting were in favor of the merger, signaling strong shareholder support for the transaction.
Richard L. Postma, Chairman of the Board of Macatawa, expressed satisfaction with the vote, highlighting the positive feedback received from customers, the community, and shareholders regarding the partnership with Wintrust.
The acquisition, which was first announced via a Merger Agreement dated April 15, 2024, is expected to integrate Macatawa's banking, lending, wealth management, and ecommerce services with Wintrust's broader financial services offerings. Macatawa Bank, recognized for its local management and customer service, operates 26 full-service branches across various communities in Michigan.
The detailed results of the Special Meeting vote will be disclosed in a Form 8-K filing with the U.S. Securities and Exchange Commission.
The merger is part of a strategic move to enhance financial performance and is not guaranteed to produce the expected outcomes. The integration of the two companies, economic conditions, and competitive factors in their respective markets are among the risks and uncertainties that could affect the realization of the merger's benefits.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.