Old Second to buy Talmer’s Chicago branch

Aurora, Ill.-based Old Second National Bank will acquire a Chicago branch from Talmer Bank and Trust, Troy, Mich..The branch includes approximately $82 million of deposits and approximately $238 million of loans..Talmer's Chicago office is led by commercial bankers, Gary Collins, Robert Moore and Dave Neilson. "We have been looking for an acquisition opportunity in the Chicagoland area for some time and this transaction contains many of the elements we desire in a transaction, including a strong team of commercial lenders led by Robert and Dave," said James L. Eccher, Chief Executive Officer and President of Old Second. "We will continue to look for additional expansion opportunities in our existing and adjacent markets.".Upon completion of the transaction, Gary Collins, vice chairman of Talmer, is expected to join Old Second as vice chairman and as a director of Old Second and its holding company..In addition, Old Second plans to appoint Hugh McLean, president of the Illinois region of Talmer Bank and Trust, as a director of the bank. Prior to joining Talmer in 2010, Collins andMcLean worked together at several Chicago area banks, including as co-vice chairmen at a large Chicago bank..The deal will close in the fourth quarter..Old Second is being advised by Barack Ferrazzano Kirschbaum & Nagelberg LLP as legal counsel.