EX-99.1
2
mbfi8k_ex991.htm
PRESS RELEASE
Press Release
MB
Financial,
Inc.
800
West Madison
Street
Chicago,
Illinois
60607
1
(888)
422-6562
NASDAQ:
MBFI
PRESS
RELEASE
For
Information at MB Financial, Inc. contact:
Mitchell
Feiger - President and Chief Executive Officer
Jill
York - Vice President and Chief Financial Officer
E-Mail:
jyork@mbfinancial.com
FOR
IMMEDIATE RELEASE
MB
Financial Announces Completion of First Oak Brook Merger
CHICAGO
-
(BUSINESS WIRE) - August 25, 2006 - MB Financial, Inc. (Nasdaq Global Select:
MBFI) announced that its merger with First Oak Brook Bancshares, Inc. (Nasdaq
Global Select: FOBB) was completed today.
MB
Financial will issue approximately 8.4 million shares of common stock and pay
approximately $74.1 million in cash in the transaction. Based on the average
MB
Financial closing price for the five-trading day period ended August 23, 2006
of
$36.214, the value of the consideration to be paid to First Oak Brook
stockholders is $37.43 per share, regardless of whether paid in cash or MB
Financial stock.
First
Oak
Brook stockholders who made valid elections to receive stock and First Oak
Brook
stockholders who did not make valid elections to receive either form of merger
consideration will receive 1.0336 shares of MB Financial common stock for each
First Oak Brook share, which has a per share value of $37.43 based on the
$36.214 five-day average MB Financial closing price. As a result of prorations,
First Oak Brook stockholders who made valid elections to receive cash will
receive $37.43 per share in cash with respect to 78.48% of their shares and
1.0336 MB Financial shares for each First Oak Brook share with respect to 21.52%
of their shares. Cash will be paid in lieu of fractional MB Financial shares.
"We
are
looking forward to the next step and the benefits that are expected from
integrating the two companies. The merger provides additional strength to nearly
every aspect of our bank operations", said Mitchell Feiger, President and Chief
Executive Officer of MB Financial.
"The
combined organization will benefit from enhanced geographic convenience - with
greater coverage in Cook and Du Page Counties where 80% of the Chicago area's
middle market companies are located. In addition, the merger provides more
resources to continue expansion in such other key areas as retail and
community banking, commercial lending and leasing, treasury management,
merchant processing, asset management, trust, private banking
and investment services", Feiger added.
It
is
expected that Oak Brook Bank, First Oak Brook's subsidiary bank, will be merged
into MB Financial's lead bank subsidiary, MB Financial Bank, N.A., in the fourth
quarter of 2006.
As
a
result of the merger, MB Financial now has consolidated assets of over $8
billion and 62 branch offices in the Chicago area. MB Financial also has five
branch offices in the Oklahoma City, Oklahoma area through its Union Bank,
N.A.
subsidiary and one branch office in Philadelphia, Pennsylvania.
MB
Financial Bank (www.mbfinancial.com) is a locally operated financial
institution, which has been delivering competitive personalized service for
more
than 90 years to privately-owned, middle-market companies as well as to
individuals who live and work in the Chicago metropolitan area.
Safe
Harbor Statement: Statements in this press release that are not historical
facts
are "forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. By
their
nature, such statements are subject to numerous factors that could cause actual
results to differ materially from those anticipated in the statements,
including, without limitation, the possibility that the integration of the
operations of Oak Brook Bank with those of MB Financial Bank may prove more
difficult and take longer than expected, as well as other risks discussed in
MB
Financial's filings with the Securities and Exchange Commission.

EX - 99 . 1 2 mbfi8k _ ex991 . htm PRESS RELEASE Press Release MB Financial , Inc . 800 West Madison Street Chicago , Illinois 60607 1 ( 888 ) 422 - 6562 NASDAQ : MBFI PRESS RELEASE For Information at MB Financial , Inc . contact : Mitchell Feiger - President and Chief Executive Officer Jill York - Vice President and Chief Financial Officer E - Mail : jyork@mbfinancial.com FOR IMMEDIATE RELEASE MB Financial Announces Completion of First Oak Brook Merger CHICAGO - ( BUSINESS WIRE ) - August 25 , 2006 - MB Financial , Inc . ( Nasdaq Global Select : MBFI ) announced that its merger with First Oak Brook Bancshares , Inc . ( Nasdaq Global Select : FOBB ) was completed today . MB Financial will issue approximately 8 . 4 million shares of common stock and pay approximately $ 74.1 million in cash in the transaction . Based on the average MB Financial closing price for the five - trading day period ended August 23 , 2006 of $ 36.214 , the value of the consideration to be paid to First Oak Brook stockholders is $ 37.43 per share , regardless of whether paid in cash or MB Financial stock . First Oak Brook stockholders who made valid elections to receive stock and First Oak Brook stockholders who did not make valid elections to receive either form of merger consideration will receive 1 . 0336 shares of MB Financial common stock for each First Oak Brook share , which has a per share value of $ 37.43 based on the $ 36.214 five - day average MB Financial closing price . As a result of prorations , First Oak Brook stockholders who made valid elections to receive cash will receive $ 37.43 per share in cash with respect to 78 . 48 % of their shares and 1 . 0336 MB Financial shares for each First Oak Brook share with respect to 21 . 52 % of their shares . Cash will be paid in lieu of fractional MB Financial shares . " We are looking forward to the next step and the benefits that are expected from integrating the two companies . The merger provides additional strength to nearly every aspect of our bank operations " , said Mitchell Feiger , President and Chief Executive Officer of MB Financial . " The combined organization will benefit from enhanced geographic convenience - with greater coverage in Cook and Du Page Counties where 80 % of the Chicago area 's middle market companies are located . In addition , the merger provides more resources to continue expansion in such other key areas as retail and community banking , commercial lending and leasing , treasury management , merchant processing , asset management , trust , private banking and investment services " , Feiger added . It is expected that Oak Brook Bank , First Oak Brook 's subsidiary bank , will be merged into MB Financial ' s lead bank subsidiary , MB Financial Bank , N . A . , in the fourth quarter of 2006 . As a result of the merger , MB Financial now has consolidated assets of over $ 8 billion and 62 branch offices in the Chicago area . MB Financial also has five branch offices in the Oklahoma City , Oklahoma area through its Union Bank , N . A . subsidiary and one branch office in Philadelphia , Pennsylvania . MB Financial Bank ( www.mbfinancial.com ) is a locally operated financial institution , which has been delivering competitive personalized service for more than 90 years to privately - owned , middle - market companies as well as to individuals who live and work in the Chicago metropolitan area . Safe Harbor Statement : Statements in this press release that are not historical facts are " forward - looking statements " within the meaning of the Private Securities Litigation Reform Act of 1995 . By their nature , such statements are subject to numerous factors that could cause actual results to differ materially from those anticipated in the statements , including , without limitation , the possibility that the integration of the operations of Oak Brook Bank with those of MB Financial Bank may prove more difficult and take longer than expected , as well as other risks discussed in MB Financial ' s filings with the Securities and Exchange Commission .