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Quotes & Info
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| MBFI > SEC Filings for MBFI > Form 8-K on 4-Jan-2013 | All Recent SEC Filings |
4-Jan-2013
Completion of Acquisition or Disposition of Assets, Financial Statements and
As previously reported in the Current Report on Form 8-K filed by MB Financial, Inc. (the "Company") on December 28, 2012, MB Financial Bank, N.A. (the "Bank"), a wholly owned subsidiary of the Company, completed its acquisition of Celtic Leasing Corp. ("Celtic"), a privately held, mid-ticket equipment leasing company, on December 28, 2012.
As of October 31, 2012, Celtic had approximately $76 million of assets, consisting primarily of cash ($37 million), equipment inventory ($20 million) and net investment in direct financing leases ($17 million), and approximately $26 million in stockholders' equity.
Initial consideration paid by the Bank to the stockholders of Celtic was approximately $58.7 million in cash. Celtic stockholders will receive additional consideration based on the residual performance of leases outstanding as of the acquisition date as well as additional consideration based on the financial performance of leases originated during the three-year period immediately following the acquisition date.
(a) Financial Statements of Businesses Acquired
To the extent that financial statements are required by this Item, they will be filed in an amendment to this report not later than March 18, 2013.
(b) Pro Forma Financial Information
To the extent that pro forma financial information is required by this Item, it will be filed in an amendment to this report not later than March 18, 2013.
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