Wintrust completes acquisition of Suburban Illinois Bancorp

ROSEMONT - Wintrust Financial Corp. said it has completed its acquisition of Suburban Illinois Bancorp Inc. Suburban, headquartered in Elmhurst, was the parent company of Suburban Bank & Trust Company, an Illinois-state chartered bank, which operates ten banking locations in Chicago and its suburbs. SBT's locations will now operate as branches of Wintrust's subsidiary, Hinsdale Bank & Trust Company. Since its formation in 1976, SBT has served its communities with exceptional personal service, great products and convenience. As of March 31, SBT had approximately $488 million in assets, approximately $293 million in loans and approximately $426 million in deposits. "This transaction allows us to expand into the desirable Elmhurst market in a meaningful way and complement our growing presence in other suburban markets," said Edward J. Wehmer, President and CEO of Wintrust. Wehmer added that bank plans to combine about six branches, where Wintrust and SBT banks overlap markets, during the second half of 2015.