Wintrust completes Chicago acquisition

Wintrust Financial, Rosemont, Ill., has completed its acquisition of Chicago-based North Bank for $17 million..Founded in 1970, the two-branch North Bank had $106 million in assets, $55 million in loans and $94 million in deposits as of March 31. The locations, in Chicago's River North and Streeterville neighborhoods, now operate as branches of Wintrust Bank.."This transaction allows us to expand and complement our growing market presence in downtown Chicago," said Edward Wehmer, Wintrust president and CEO. "We look forward to continuing with the community banking approach that North Bank has established and to providing its customer base with an expanded array of products and services.".D.A. Davidson & Co., acted as exclusive financial advisor to North Bank in the transaction and provided a fairness opinion to its Board of Directors..Fox, Swibel, Levin & Carroll, LLP acted as North Bank's legal advisor and Schiff Hardin LLP served as outside counsel to Wintrust..The $21 billion Wintrust operates 15 banks in Illinois, northwest Indiana, and southern Wisconsin.