On June 26, 2018, MW Bancorp, Inc. (“MW”), Cincinnati, Ohio, and Forcht Bancorp, Inc. (“Forcht”), Corbin, Kentucky, entered into a definitive merger agreement pursuant to which MW will merge with and into Forcht, with Forcht as the resulting company, for total merger consideration valued at approximately $28.0 million. MW shareholders will receive $30.00 per share of MW common stock. As part of the merger, Watch Hill Bank, the subsidiary of MW, will merge with and into Forcht Bank, N.A., the subsidiary of Forcht.
Luse Gorman served as legal counsel to MW and Watch Hill Bank in the transaction. The Luse Gorman team was led by Kip Weissman (Corporate/M&A), Ned Quint (Corporate/M&A), Michael Brown (Corporate/M&A) and Max Seltzer (Executive Compensation), and included Megan McKinney (Corporate/M&A).
Watch Hill Bank has approximately $163 million in total assets and operates two offices in Cincinnati, Ohio.
Forcht Bank, N.A. has approximately $1.1 billion in total assets and operates 26 offices in Kentucky.