CedarPoint Investment Advisors acquired by Midland States Bancorp

CedarPoint Investment Advisors, an RIA firm administering about $180 million in assets, has been acquired by Midland States Bancorp for an undisclosed sum, according to Milwaukee Business News.

CedarPoint, based in the Milwaukee suburb of Delafield, Wisc., will operate as a wholly owned subsidiary of Midland, which is based in Effingham, Ill., Milwaukee Business News​ reported on Wednesday.

The RIA, which has four employees, was founded in 2009 by partners Dan Wilson and Bob Dignan. Mr. Wilson will serve as managing director of the bank’s Delafield office and Mr. Dignan will remain as a wealth advisor.

The bank operates another wealth management office in Wauwatosa, Wisc.