Update: The deal announced in August 2018 has been completed.
Barack Ferrazzano Represents American Enterprise Bank in Wintrust Acquisition
The Barack Ferrazzano Financial Institutions Group acted as legal counsel to American Enterprise Bank ("AEB") in entering into a definitive agreement with Northbrook Bank & Trust Company, a subsidiary of Wintrust Financial Corporation ("Wintrust") (Nasdaq: WTFC), in which Northbrook Bank & Trust Company will acquire certain assets and assume certain liabilities of American Enterprise Bank.
American Enterprise Bank, headquartered in Buffalo Grove, Illinois, with additional branch offices in Highland Park and Schaumburg, Illinois, had approximately $200 million in assets, including approximately $151 million in loans and approximately $157 million in deposits as of June 30, 2018.
At this time, terms of the transaction are not being disclosed. The transaction is expected to close late in the fourth quarter of 2018, and is not expected to have a material effect on Wintrust's 2018 earnings per share.
Barack Ferrazzano’s team was led by Brent McCauley who was assisted by Abdul Mitha. Lynne Mapes-Riordan advised on executive compensation.
Barack Ferrazzano Financial Institutions Group
Our 30-attorney Group has represented more than 250 financial institutions across the country. Our M&A experience is unparalleled — in 2017 we were the #1 legal advisor in the U.S. by announced bank and thrift M&A transactions and over the past decade, our Group ranked #1 in the Midwest region by number of announced bank and thrift merger and acquisition transactions, according to S&P Global Market Intelligence. 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 2018 report.
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