Wintrust closes on North Bank acquisition

Rosemont-based Wintrust Financial Corp. said it has completed its acquisition of Chicago-based North Bank by its wholly-owned subsidiary, Wintrust Bank.

North Bank's two downtown Chicago locations will now operate as branches of Wintrust Bank.

North Bank has been serving the River North and Streeterville neighborhoods of Chicago since 1970. Its two facilities are at 431 N. Clark St. and at 360 E. Ohio St. As of March 31, 2015, North Bank had approximately $106 million in assets, approximately $55 million in loans and approximately $94 million in deposits.

"This transaction allows us to expand and complement our growing market presence in downtown Chicago," said Edward J. Wehmer, President and CEO of Wintrust. "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."

Mayo C. Walcott, President of North Bank, said the two banks share the philosophy "of offering highly personalized customer-oriented retail and commercial banking services.

"We can continue to prioritize customer service, while at the same time offering our customers access to a wider range of products and services," Walcott added. "Accordingly, we see many benefits for our customers, and we are pleased to join the Wintrust family."