Market Overview

Wintrust Financial to Acquire First Lansing Bancorp

Wintrust Financial (NASDAQ: WTFC) today announced the signing of a definitive agreement to acquire First Lansing Bancorp, Inc. ("FLB"). FLB is the parent company of First National Bank of Illinois ("FNBI"). Established in 1945, FNBI is headquartered in Lansing, Illinois and operates seven banking locations in the south and southwest suburbs of Chicago, as well as one location in northwest Indiana. 

FNBI has an established history of serving its communities dating back nearly seventy years. As of December 31, 2012, it had approximately $370 million in assets and approximately $325 million in deposits. FNBI's approach to customer service is similar to that at each of the fifteen Wintrust Community Banks and their more than 100 banking locations. In all aspects of the community banking business, including services, products, and staff, a high level of involvement between bank employees, customers and the communities served has always been a top priority of FNBI.

Edward J. Wehmer, President and CEO of Wintrust, said, "This transaction provides a terrific opportunity to expand our presence in the southern part of our market area and helps us continue on our path to become Chicago's Bank. First National Bank has established a

See full press release

Posted-In: News Guidance Management M&A

 

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