Midland Financial Co., the holding company for MidFirst Bank, and 1st Century Bancshares, Inc. (NASDAQ: FCTY), the holding company for 1st Century Bank, National Association, jointly announced today they have entered into a definitive agreement pursuant to which Midland will acquire 1st Century Bancshares.
Simultaneously with the closing of the acquisition, 1st Century Bank will be merged into MidFirst Bank. Following these transactions, the business of 1st Century Bank will continue to operate under the 1st Century brand as a division of MidFirst Bank.
