Countryside Bank Acquired by Wintrust Financial Corporation
Update: The deal announced in July 2019 has been completed. Click on the article below to read more about this transaction.
- Yahoo Finance - GlobeNewswire (November 1, 2019)
July 26, 2019 - GlobeNewswire Press Release
Countryside Bank to be Acquired by Wintrust Financial Corporation in $90.5M Acquisition
Barack Ferrazzano's Financial Institutions Group represented SBC, Incorporated (SBC), the parent company for Countryside Bank, in connection with a pending acquisition by Wintrust Financial Corporation (Wintrust).
Edward J. Wehmer, President and CEO of Wintrust, said, “This transaction is a great opportunity to expand and complement our market presence in the western suburbs of the Chicago metropolitan area. Countryside Bank has a great reputation for providing outstanding customer service using a community banking approach. We look forward to continuing that tradition and to providing its customers with an expanded array of products, services and resources.”
As of March 31, 2019, Countryside bank has approximately $594 million in assets, including approximately $411 million in loans and $509 million in deposits. The aggregate transaction purchase price to SBC shareholders, subject to potential adjustment, is approximately $90.5 million. Subject to approval by regulators and subject to certain closing conditions, the transaction is projected to close within the fourth quarter of 2019.
Barack Ferrazzano's team was led by Robert. M. Fleetwood, Emily N. Henkel, and Neil R. Patel. Executive compensation and benefits were handled by Donald L. Norman, Jr.
To learn more about this transaction, visit: https://finance.yahoo.com/news/wintrust-financial-corporation-announces-plans-223000556.html
About Countryside Bank
Countryside Bank offers banking that helps you build your best life. They believe builders are everywhere. Whether it’s growing families, expanding businesses, constructing houses, or preparing for retirement – people are actively moving ahead. When builders bank with Countryside Bank, they place them on the fast track for reaching their goals. Countryside Bank's motto, “It’s grow time,” demonstrates their commitment to helping their customers grow through life’s stages and attain their goals.