Old Second National Bank to Acquire Chicago Branch of Talmer Bank and Trust
The Barack Ferrazzano Financial Institutions Group, led by John E. Freechack, Robert M. Fleetwood and Bill Fay, acted as legal counsel to Old Second Bancorp, Inc. ("Old Second") which announced today that its banking subsidiary, Old Second National Bank (the "Bank"), has agreed to acquire the Chicago branch of Talmer Bank and Trust, the banking subsidiary of Talmer Bancorp, Inc. ("Talmer"). The acquisition includes approximately $82 million of deposits and approximately $238 million of loans.
Gary Collins, Vice Chairman of Talmer, is expected to join Old Second as Vice Chairman and as a director of Old Second and the Bank. Old Second also intends to appoint Hugh McLean, President of the Illinois Region of Talmer Bank and Trust, as a director of the Bank.
The acquisition, which is subject to regulatory approval, the completion of Talmer's pending merger with Chemical Financial Corporation and other customary closing conditions, is expected to close in the fourth quarter of 2016.
Other members of Barack Ferrazzano's legal team include Andrew K. Strimaitis, Emily N. Henkel and Nicholas M. Brenckman.
Barack Ferrazzano Financial Institutions Group
We have 12 announced bank deals in 2016 and 56 announced deals since 2011. Our 30-attorney Group has represented more than 250 financial institutions across the country. Our M&A experience is unparalleled-over the past decade, with our Group ranked #1 in the Midwest region by number of announced bank and thrift merger and acquisition transactions, according to SNL Financial. The Financial Institutions Group was again named as one of the top financial institution groups in the nation in the U.S. News & Best Lawyers 2016 report.