Wintrust acquires branch of PyraMax Bank

ROSEMONT - Wintrust Financial Corporation Friday announced the acquisition, through its wholly-owned subsidiary Town Bank, of a Milwaukee, Wisconsin branch of PyraMax Bank, FSB.

Through this transaction, subject to final adjustments, Town Bank acquired approximately $5 million of deposits, the bank facility and property located at 1605 W. Mitchell Street in Milwaukee, and various other assets.

Jay C. Mack, President and CEO of Town Bank, said, "This transaction provides a terrific opportunity to expand our presence in the city of Milwaukee. We look forward to continuing to build upon the franchise that PyraMax Bank established and to providing its customers with an expanded array of products and services."

Richard B. Hurd, President and CEO of PyraMax Bank, FSB, remarked, "This transaction will allow us to focus our efforts on our primary markets. We feel that Wintrust is a good buyer for the Mitchell Street office and will work hard to ensure a smooth transition for our customers and colleagues who will be joining Wintrust."

The terms of the transaction are not being disclosed at this time.

Wintrust is a financial holding company with assets of approximately $30 billion. whose common stock is traded on the NASDAQ Global Select Market. Built on the "HAVE IT ALL" model, Wintrust offers sophisticated technology and resources of a large bank while focusing on providing service-based community banking to each and every customer. Wintrust operates fifteen community bank subsidiaries with over 160 banking locations located in the greater Chicago and southern Wisconsin market areas. Additionally, the Company operates various non-bank business units, including one of the largest commercial insurance premium finance companies operating in the United States and Canada, a company providing short-term accounts receivable financing and value-added out-sourced administrative services to the temporary staffing services industry, a business unit engaging primarily in the origination and purchase of residential mortgages for sale into the secondary market throughout the United States, and companies providing wealth management services.