American National Bankshares Inc. in Danville, Va., on Friday completed its $34.7 million acquisition of MidCarolina Financial Corp. in Burlington, N.C.
American National, which said it has $1.3 billion of assets following the acquisition, announced it will change the name of MidCarolina branches to its own brand early next year.
MidCarolina shareholders received 0.33 shares of American National common stock for each MidCarolina share.
Charles T. Canaday Jr., who had been MidCarolina's president and chief executive, became the president of North Carolina banking for American National Bank and a senior vice president of the holding company.
Three former directors of MidCarolina joined American National's board.
Separately, Wintrust Financial Corp. in Chicago said it had completed its acquisition of Great Lakes Advisors Inc., a Chicago investment manager with roughly $2.4 billion of assets under management. The $14 billion-asset acquirer did not say how much it paid for Great Lakes.
