Wintrust completes acquisition of Generations Bancorp

ROSEMONT - Wintrust Financial Corp. said it has completed its acquisition of Generations Bancorp Inc.

Generations, headquartered in Pewaukee, Wisconsin, is the parent company of Foundations Bank, a Wisconsin state-chartered bank, which operates one banking location in Pewaukee, Wisconsin. As of March 31, Foundations Bank had approximately $124 million in assets, approximately $73 million in loans and approximately $96 million in deposits. Foundations Bank has been merged into Wintrust's wholly-owned Wisconsin banking subsidiary, Town Bank, and will operate as a branch of Town Bank.

"This transaction allows us to expand and complement our existing market presence in Pewaukee, Wisconsin," said Edward J. Wehmer, President and CEO of Wintrust. "We look forward to continuing with the community banking approach that Foundations Bank has established and to providing its customer base with an expanded array of products and services."

Wintrust acquired Generations for approximately $25.1 million. Shares of Generations common stock outstanding at the time of the merger were converted into the right to receive merger consideration paid in cash.

The transaction is not expected to have a material effect on Wintrust's 2016 earnings per share.

Foundations Bank President and CEO John M. Hazod said Wintrust's operations were very compatible with Generations.

"The transaction allows us to continue to provide high quality service to our customers, while at the same time providing our customers with access to a wider range of products," Hazod said.

AdvisorsHovde Group, LLC acted as exclusive financial adviser to Generations in the transaction and provided a fairness opinion to its board of directors. Godfrey & Kahn, S.C. acted as Generations' legal adviser and Schiff Hardin LLP served as outside counsel to Wintrust.