Wintrust to acquire Generations Bancorp in Wisconsin

ROSEMONT - Wintrust Financial Corp. said it will acquire Generations Bancorp based in Pewaukee, Wisconsin.

Terms of the acquisition were not announced.

Generations Bancorp is the parent company of Foundations Bank, a Wisconsin state-chartered bank, which operates one banking location in Pewaukee. As of September 30, 2015, Foundations Bank had approximately $125 million in assets, approximately $72 million in loans and approximately $97 million in deposits.

"This transaction provides a wonderful opportunity to expand and complement our market presence in Pewaukee, Wisconsin," said Wintrust President and CEO Edward J. Wehmer. "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."

John M. Hazod, president and CEO of Foundations Bank, added the acquisition is "a great opportunity to partner with a successful organization that is compatible with ours.

" We share a philosophy of offering highly personalized customer-oriented retail and commercial banking services." Hazod said. "The transaction allows us to continue focusing on serving our customers, while at the same time providing our customers with access to a wider range of products and services. We see many benefits for our shareholders and customers, and we look forward to joining the Wintrust family."

Rosemont-based Wintrust is a financial holding company with assets of approximately $22 billion. It operates more than 150 community banks in the Chicago metropolitan and southern Wisconsin areas.