LAKE FOREST, Ill., Oct. 22, 2010 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation ("Wintrust") (Nasdaq:WTFC) has announced today that its wholly-owned subsidiary Wheaton Bank & Trust Company (the "Bank") has completed the acquisition of a branch of First National Bank of Brookfield located in Naperville, Illinois. Through this transaction, subject to final adjustments, the Bank acquired approximately $23 million of deposits, approximately $10.5 million of performing loans and the property, bank facility and various other assets. The new branch will be named 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 former Wheatland Bank in Naperville. We are also pleased to announce that Tom Miers, a long-time Naperville resident and experienced veteran of the local banking industry, has joined us as President of the new Naperville Bank & Trust. We look forward to continuing with the community banking approach that this location has established and providing the greater Naperville 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 have concluded this transaction with Wintrust. The sale of our Naperville branch allows 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.
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