"Piper Holdings to Acquire Gifford Bancorp in All-Cash Transaction"

"Gifford Bancorp, Inc. has entered into a definitive agreement to be acquired by Piper Holdings, Inc. in an all-cash transaction. Following the acquisition, Piper will manage approximately $850 million in assets and employ over 165 staff across Indiana and Illinois. The deal is expected to close in the first quarter of 2026, pending regulatory and shareholder approvals. Gifford's CEO, Tony McLain, highlighted that the merger will enhance banking services and increase lending capabilities in their communities. Barack Ferrazzano Financial Institutions Group provided legal counsel for the transaction."

Barack Ferrazzano Financial Institutions Group served as legal counsel to Gifford Bancorp, Inc. and The Gifford State Bank in their definitive agreement with Piper Holdings, Inc. and The Fountain Trust Company, whereby Piper will acquire Gifford and Gifford State Bank in an all-cash transaction. The transaction is expected to close in the first quarter of 2026, pending customary closing conditions, including regulatory approvals and the approval of Gifford’s shareholders. Upon completion, Piper will have approximately $850 million in total assets and over 165 employees across eight counties in Indiana and Illinois. The legal team from Barack Ferrazzano was led by partner Abdul R. Mitha from the Financial Institutions Group, with assistance from associate Camryn C. Dreyer. Additionally, partner Andrew K. Strimaitis and associate Alex Freund handled executive compensation and benefit matters.

"Piper Holdings to Acquire Gifford Bancorp in All-Cash Transaction"

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