Wintrust Financial Corporation to Acquire the Naperville, Illinois Branch of the First National Bank of Brookfield
August 17 2010 - 4:25PM
Wintrust Financial Corporation ("Wintrust") (Nasdaq:WTFC) has
announced today that its wholly-owned subsidiary Wheaton Bank &
Trust Company has signed a Branch Purchase and Assumption Agreement
whereby it will acquire a branch of First National Bank of
Brookfield that is located in Naperville, Illinois. Through this
transaction, subject to final adjustments, Wheaton Bank & Trust
Company will acquire approximately $25 million of deposits,
approximately $12 million of performing loans and the property,
bank facility and various other assets. The transaction is expected
to close in the fourth quarter of 2010 and is subject to regulatory
approval and other customary closing conditions. Upon closing,
this location will operate as Naperville Bank & Trust.
Edward J. Wehmer, President and CEO of Wintrust, said, "The
acquisition of this banking location in Naperville will greatly
enhance our ability to grow in this sizable community and will
supplement our recent acquisition of the assets and liabilities of
the Wheatland Bank in Naperville. We look forward to
continuing with the community banking approach that this location
has established and providing this community with an expanded array
of products and services. We look forward to welcoming our new
employees and customers and anticipate a seamless transition."
Jan Schultz, Chairman and CEO of the First National Bank of
Brookfield, commented, "We are pleased to be working with Wintrust
and the Wheaton Bank and Trust. The sale of our Naperville
branch will allow us to focus on serving our Brookfield customers
as we have for over 50 years, and our Naperville customers will
continue to be served by a quality banking organization that shares
our commitment to the local community."
The terms of the transaction are not being disclosed at this
time; however, Wintrust does not expect the transaction to have a
material impact on its 2010 results of operations.
About Wintrust
Wintrust is a financial holding company with assets in excess of
$14 billion whose common stock is traded on the NASDAQ Global
Select Market (Nasdaq:WTFC). Wintrust operates fifteen community
bank subsidiaries that are located in the greater Chicago and
Milwaukee market areas. Additionally, the Company operates various
non-bank subsidiaries including one of the largest commercial
insurance premium finance companies operating in the United States,
a company providing short-term accounts receivable financing and
value-added out-sourced administrative services to the temporary
staffing services industry, companies engaging primarily in the
origination and purchase of residential mortgages for sale into the
secondary market throughout the United States, and companies
providing wealth management services including broker-dealer, money
management services, advisory services, and trust and estate
services. Currently, Wintrust operates more than 85 banking
offices.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of federal securities laws. Forward-looking information
can be identified through the use of words such as "intend,"
"plan," "project," "expect," "anticipate," "believe," "estimate,"
"contemplate," "possible," "point," "will," "may," "should,"
"would" and "could." Forward-looking statements and information are
not historical facts, are premised on many factors and assumptions,
and represent only management's expectations, estimates and
projections regarding future events. Similarly, these statements
are not guarantees of future performance and involve certain risks
and uncertainties that are difficult to predict, which may include,
but are not limited to, those discussed under Item 1A of the
Company's Annual Report on Form 10-K for the year ended December
31, 2009 and in any of the Company's subsequent SEC filings.
Forward-looking statements speak only as of the date made and
Wintrust undertakes no duty to update the information.
CONTACT: Wintrust Financial Corporation
Edward J. Wehmer, President & Chief Executive Officer
David A. Dykstra, Senior Executive Vice President &
Chief Operating Officer
(847) 615-4096
www.wintrust.com
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