Level One Bancorp, Inc. operates as a bank holding company for Level One Bank that provides business and consumer financial services in Michigan. Its deposit products include checking, interest-bearing demand, money market, savings, and term certificate accounts. The company also provides lending products and related services comprising commercial real estate loans, including construction and land development loans; commercial and industrial loans consisting of lines of credit, term loans, and loans under the small business administration lending program; residential real estate loans; and consumer loans, including home equity loans automobile loans, and credit card services. In addition, it offers cash management, treasury management, and mobile and internet banking services, as well as debit cards and automated teller machines. The company serves individuals, owner-managed businesses, professional firms, real estate professionals, and not-for-profit businesses. As of January 29, 2021, it operated sixteen banking centers throughout southeast Michigan and west Michigan. The company was incorporated in 2006 and is headquartered in Farmington Hills, Michigan.
IPO Year: 2018
Exchange: NASDAQ
Website: levelonebank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/5/2021 | Strong Buy → Outperform | Raymond James | |
| 11/5/2021 | $37.00 → $44.00 | Strong Buy → Outperform | Raymond James |
| 11/1/2021 | $35.00 → $37.00 | Strong Buy | Raymond James |
Merger activity increased last week with six new deals announced and six deals completed. Three of the six new deals announced were potential deals in the works. Healthcare Trust of America (NYSE:HTA) Founded in 2006, Healthcare Trust of America is a healthcare focused REIT and the largest operator of dedicated medical office buildings (MOB) in the United States. The company owns real estate though 461 on-campus and off-campus properties around hospitals and Universities in 32 states. We added HTA to our ‘Deals in the Works‘ tool on October 6, 2021, when Bloomberg reported that activist investor Elliott Investment Management was pushing for the company to launch a strategic review that inc
Level One Bancorp (NASDAQ:LEVL) reported quarterly earnings of $0.85 per share. This is a 16.67 percent decrease over earnings of $1.02 per share from the same period last year.
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Raymond James downgraded Level One Bancorp from Strong Buy to Outperform
Raymond James downgraded Level One Bancorp from Strong Buy to Outperform and set a new price target of $44.00 from $37.00 previously
Raymond James reiterated coverage of Level One Bancorp with a rating of Strong Buy and set a new price target of $37.00 from $35.00 previously
Raymond James reiterated coverage of Level One Bancorp with a rating of Strong Buy and set a new price target of $30.00 from $26.00 previously
Raymond James upgraded Level One Bancorp from Outperform to Strong-Buy
Raymond James upgraded Level One Bancorp from Outperform to Strong Buy and set a new price target of $26.00 from $24.00 previously
MUNCIE, Ind., April 01, 2022 (GLOBE NEWSWIRE) -- First Merchants Corporation (NASDAQ:FRME) and Level One Bancorp, LLC (NASDAQ:LEVL) have finalized a merger of the two companies. Following regulatory approvals last month, the companies consummated their legal closing through a cash/stock transaction effective April 1, 2022. As previously announced in late 2021, Level One Bank will also merge with and into First Merchants Bank. Headquartered in Farmington Hills, Michigan, LEVL operated 17 banking center locations in the Michigan area, all of which will remain part of the First Merchants franchise. Since its founding in 2007, Level One Bank grew into one of the largest community banks in the
FARMINGTON HILLS, Mich., March 16, 2022 (GLOBE NEWSWIRE) -- Level One Bancorp, Inc. ("Level One") (NASDAQ:LEVL) announced that the Board of Directors of Level One had declared a quarterly cash dividend on its common stock of $0.07 per share payable on April 15, 2022, to shareholders of record on March 31, 2022. Level One Bancorp, Inc. is the holding company for Level One Bank, a full-service commercial and consumer bank headquartered in Michigan with assets of approximately $2.52 billion as of December 31, 2021. The Company operates sixteen banking centers throughout Southeast Michigan and West Michigan. For more information, visit www.levelonebank.com. For further information: Media Co
FARMINGTON HILLS, Mich., Jan. 28, 2022 (GLOBE NEWSWIRE) -- Level One Bancorp, Inc. ("Level One") (NASDAQ:LEVL) today reported its financial results for the fourth quarter of 2021, which included net income of $7.1 million, or $0.85 diluted earnings per common share. This compares to net income of $8.4 million, or $1.02 diluted earnings per common share, in the fourth quarter of 2020. Patrick J. Fehring, Chief Executive Officer of Level One, commented, "We closed out 2021 with solid fourth quarter earnings of $7.1 million while generating record net income for 2021 of $32.5 million, a 59.10% increase over 2020 net income. During 2021 we provided over $234.3 million through the SBA Paycheck
FARMINGTON HILLS, Mich., Jan. 19, 2022 (GLOBE NEWSWIRE) -- Level One Bancorp, Inc. ("Level One") (NASDAQ:LEVL) announced that the Board of Directors of Level One declared a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Preferred Stock, Series B, represented by depositary shares (NASDAQ:LEVLP) each representing a 1/100th interest in a share of the Series B preferred stock. Holders of depositary shares will receive $0.4688 per depositary share. The dividend is payable on February 15, 2022, to shareholders of record at the close of business on January 31, 2022. Level One Bancorp, Inc. is the holding company for Level One Bank, a full-service commercial and consumer
FARMINGTON HILLS, Mich., Dec. 15, 2021 (GLOBE NEWSWIRE) -- Level One Bancorp, Inc. ("Level One") (NASDAQ:LEVL) announced that the Board of Directors of Level One had declared a quarterly cash dividend on its common stock of $0.06 per share payable on January 15, 2022, to shareholders of record on December 31, 2021. Level One Bancorp, Inc. is the holding company for Level One Bank, a full-service commercial and consumer bank headquartered in Michigan with assets of approximately $2.54 billion as of September 30, 2021. The Company operates sixteen banking centers throughout Southeast Michigan and West Michigan. For more information, visit www.levelonebank.com. For further information: Med
MUNCIE, Ind. and FARMINGTON HILLS, Mich., Nov. 04, 2021 (GLOBE NEWSWIRE) -- First Merchants Corporation (NASDAQ:FRME) ("First Merchants") and Level One Bancorp, Inc., (NASDAQ:LEVL) today announced they have executed a definitive merger agreement by which Level One Bancorp, Inc. will merge with and into First Merchants Corporation in a stock and cash transaction currently valued at approximately $323.5 million. Upon completion of the merger, Level One Bank will merge with and into First Merchants Bank. Headquartered in Farmington Hills, Michigan, LEVL operates 16 banking center locations in the southeastern Michigan area. Since its founding in 2007, LEVL has grown to be one of the larges
FARMINGTON HILLS, Mich., Oct. 29, 2021 (GLOBE NEWSWIRE) -- Level One Bancorp, Inc. ("Level One") (NASDAQ:LEVL) today reported its financial results for the third quarter of 2021, which included net income of $9.5 million, or $1.16 diluted earnings per common share. This compares to net income of $5.2 million, or $0.67 diluted earnings per common share, in the third quarter of 2020. Patrick J. Fehring, Chief Executive Officer of Level One, commented, "The Level One team delivered solid operating results in the third quarter 2021 with net income of $9.5 million or $1.16 diluted earnings per common share. This represents a 38.10% increase over diluted earnings per common share of $0.84 for t
FARMINGTON HILLS, Mich., Oct. 20, 2021 (GLOBE NEWSWIRE) -- Level One Bancorp, Inc. ("Level One") (NASDAQ:LEVL) announced that the Board of Directors of Level One declared a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Preferred Stock, Series B, represented by depositary shares (NASDAQ:LEVLP) each representing a 1/100th interest in a share of the Series B preferred stock. Holders of depositary shares will receive $0.4688 per depositary share. The dividend is payable on November 15, 2021, to shareholders of record at the close of business on October 31, 2021. Level One Bancorp, Inc. is the holding company for Level One Bank, a full-service commercial and consumer
FARMINGTON HILLS, Mich., Sept. 15, 2021 (GLOBE NEWSWIRE) -- Level One Bancorp, Inc. ("Level One") (NASDAQ:LEVL) announced that the Board of Directors of Level One had declared a quarterly cash dividend on its common stock of $0.06 per share payable on October 15, 2021, to shareholders of record on September 30, 2021. Level One Bancorp, Inc. is the holding company for Level One Bank, a full-service commercial and consumer bank headquartered in Michigan with assets of approximately $2.51 billion as of June 30, 2021. The Company operates sixteen banking centers throughout Southeast Michigan and West Michigan. For more information, visit www.levelonebank.com. For further information: Medi
FARMINGTON HILLS, Mich., July 30, 2021 (GLOBE NEWSWIRE) -- Level One Bancorp, Inc. ("Level One") (NASDAQ:LEVL) today reported its financial results for the second quarter of 2021, which included net income of $7.0 million, or $0.84 diluted earnings per common share. This compares to net income of $2.7 million, or $0.35 diluted earnings per common share, in the second quarter of 2020. Patrick J. Fehring, Chief Executive Officer of Level One, commented, "We are excited about the opportunities before us as the economy recovers from the effects of the pandemic. Level One is well positioned in attractive markets with a stronger balance sheet, liquidity to support lending activities, and a grow
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MUNCIE, Ind., April 01, 2022 (GLOBE NEWSWIRE) -- First Merchants Corporation (NASDAQ:FRME) and Level One Bancorp, LLC (NASDAQ:LEVL) have finalized a merger of the two companies. Following regulatory approvals last month, the companies consummated their legal closing through a cash/stock transaction effective April 1, 2022. As previously announced in late 2021, Level One Bank will also merge with and into First Merchants Bank. Headquartered in Farmington Hills, Michigan, LEVL operated 17 banking center locations in the Michigan area, all of which will remain part of the First Merchants franchise. Since its founding in 2007, Level One Bank grew into one of the largest community banks in the
FARMINGTON HILLS, Mich., March 16, 2022 (GLOBE NEWSWIRE) -- Level One Bancorp, Inc. ("Level One") (NASDAQ:LEVL) announced that the Board of Directors of Level One had declared a quarterly cash dividend on its common stock of $0.07 per share payable on April 15, 2022, to shareholders of record on March 31, 2022. Level One Bancorp, Inc. is the holding company for Level One Bank, a full-service commercial and consumer bank headquartered in Michigan with assets of approximately $2.52 billion as of December 31, 2021. The Company operates sixteen banking centers throughout Southeast Michigan and West Michigan. For more information, visit www.levelonebank.com. For further information: Media Co
FARMINGTON HILLS, Mich., Jan. 28, 2022 (GLOBE NEWSWIRE) -- Level One Bancorp, Inc. ("Level One") (NASDAQ:LEVL) today reported its financial results for the fourth quarter of 2021, which included net income of $7.1 million, or $0.85 diluted earnings per common share. This compares to net income of $8.4 million, or $1.02 diluted earnings per common share, in the fourth quarter of 2020. Patrick J. Fehring, Chief Executive Officer of Level One, commented, "We closed out 2021 with solid fourth quarter earnings of $7.1 million while generating record net income for 2021 of $32.5 million, a 59.10% increase over 2020 net income. During 2021 we provided over $234.3 million through the SBA Paycheck
FARMINGTON HILLS, Mich., Jan. 19, 2022 (GLOBE NEWSWIRE) -- Level One Bancorp, Inc. ("Level One") (NASDAQ:LEVL) announced that the Board of Directors of Level One declared a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Preferred Stock, Series B, represented by depositary shares (NASDAQ:LEVLP) each representing a 1/100th interest in a share of the Series B preferred stock. Holders of depositary shares will receive $0.4688 per depositary share. The dividend is payable on February 15, 2022, to shareholders of record at the close of business on January 31, 2022. Level One Bancorp, Inc. is the holding company for Level One Bank, a full-service commercial and consumer
FARMINGTON HILLS, Mich., Dec. 15, 2021 (GLOBE NEWSWIRE) -- Level One Bancorp, Inc. ("Level One") (NASDAQ:LEVL) announced that the Board of Directors of Level One had declared a quarterly cash dividend on its common stock of $0.06 per share payable on January 15, 2022, to shareholders of record on December 31, 2021. Level One Bancorp, Inc. is the holding company for Level One Bank, a full-service commercial and consumer bank headquartered in Michigan with assets of approximately $2.54 billion as of September 30, 2021. The Company operates sixteen banking centers throughout Southeast Michigan and West Michigan. For more information, visit www.levelonebank.com. For further information: Med
MUNCIE, Ind. and FARMINGTON HILLS, Mich., Nov. 04, 2021 (GLOBE NEWSWIRE) -- First Merchants Corporation (NASDAQ:FRME) ("First Merchants") and Level One Bancorp, Inc., (NASDAQ:LEVL) today announced they have executed a definitive merger agreement by which Level One Bancorp, Inc. will merge with and into First Merchants Corporation in a stock and cash transaction currently valued at approximately $323.5 million. Upon completion of the merger, Level One Bank will merge with and into First Merchants Bank. Headquartered in Farmington Hills, Michigan, LEVL operates 16 banking center locations in the southeastern Michigan area. Since its founding in 2007, LEVL has grown to be one of the larges
FARMINGTON HILLS, Mich., Oct. 29, 2021 (GLOBE NEWSWIRE) -- Level One Bancorp, Inc. ("Level One") (NASDAQ:LEVL) today reported its financial results for the third quarter of 2021, which included net income of $9.5 million, or $1.16 diluted earnings per common share. This compares to net income of $5.2 million, or $0.67 diluted earnings per common share, in the third quarter of 2020. Patrick J. Fehring, Chief Executive Officer of Level One, commented, "The Level One team delivered solid operating results in the third quarter 2021 with net income of $9.5 million or $1.16 diluted earnings per common share. This represents a 38.10% increase over diluted earnings per common share of $0.84 for t
FARMINGTON HILLS, Mich., Oct. 20, 2021 (GLOBE NEWSWIRE) -- Level One Bancorp, Inc. ("Level One") (NASDAQ:LEVL) announced that the Board of Directors of Level One declared a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Preferred Stock, Series B, represented by depositary shares (NASDAQ:LEVLP) each representing a 1/100th interest in a share of the Series B preferred stock. Holders of depositary shares will receive $0.4688 per depositary share. The dividend is payable on November 15, 2021, to shareholders of record at the close of business on October 31, 2021. Level One Bancorp, Inc. is the holding company for Level One Bank, a full-service commercial and consumer
FARMINGTON HILLS, Mich., Sept. 15, 2021 (GLOBE NEWSWIRE) -- Level One Bancorp, Inc. ("Level One") (NASDAQ:LEVL) announced that the Board of Directors of Level One had declared a quarterly cash dividend on its common stock of $0.06 per share payable on October 15, 2021, to shareholders of record on September 30, 2021. Level One Bancorp, Inc. is the holding company for Level One Bank, a full-service commercial and consumer bank headquartered in Michigan with assets of approximately $2.51 billion as of June 30, 2021. The Company operates sixteen banking centers throughout Southeast Michigan and West Michigan. For more information, visit www.levelonebank.com. For further information: Medi
FARMINGTON HILLS, Mich., July 30, 2021 (GLOBE NEWSWIRE) -- Level One Bancorp, Inc. ("Level One") (NASDAQ:LEVL) today reported its financial results for the second quarter of 2021, which included net income of $7.0 million, or $0.84 diluted earnings per common share. This compares to net income of $2.7 million, or $0.35 diluted earnings per common share, in the second quarter of 2020. Patrick J. Fehring, Chief Executive Officer of Level One, commented, "We are excited about the opportunities before us as the economy recovers from the effects of the pandemic. Level One is well positioned in attractive markets with a stronger balance sheet, liquidity to support lending activities, and a grow
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