Rosemount, Ill.-based Wintrust Bank is going to acquire Countryside, Ill.-based SBC, Incorporated, and its subsidiary Countryside Bank.
The deal is expected to close in the fourth quarter. As of March 31, Countryside Bank had approximately $594 million in assets, approximately $411 million in loans and approximately $509 million in deposits. It has six branches in the Chicago, Countryside, Burbank, Darien, Homer Glen and Oak Brook, Ill.
“This transaction is a great opportunity to expand and complement our market presence in the western suburbs of the Chicago metropolitan area,” said Edward J. Wehmer, president and CEO of the $33 billion Wintrust.
Sandler O’Neill + Partners, L.P. acted as exclusive financial advisor to SBC in the transaction. Barack Ferrazzano Kirschbaum & Nagelberg LLP acted as SBC’s transaction counsel, and Schiff Hardin LLP served as transaction counsel to Wintrust.