AEB: Wintrust Announces Plans to Acquire Certain Assets and Assume Certain Liabilities of American Enterprise Bank

ROSEMONT, Ill., July 31, 2018 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation ("Wintrust") (NASDAQ:WTFC) today announced that its subsidiary Northbrook Bank & Trust Company has signed a definitive agreement to acquire certain assets and assume certain liabilities of American Enterprise Bank ("AEB") which is headquartered in Buffalo Grove, Illinois, with additional branch offices located in Highland Park and Schaumburg, Illinois. As of June 30, 2018, AEB had approximately $200 million in assets, including approximately $151 million in loans and approximately $157 million in deposits. Edward J. Wehmer, President and CEO of Wintrust, said, "This transaction provides a wonderful opportunity to expand and complement our market presence in the north and northwest suburbs of Chicago. We look forward to continuing the community banking approach that American Enterprise Bank has established and to providing its customers with an expanded array of products, services and resources." "We are very pleased to announce this transaction," said Bradley D. Gordon, Chief Executive Officer of American Enterprise Bank. "We see many advantages for our customers, given Wintrust's community banking philosophy, its range of products and services offered and its reputation within the communities that we currently serve. We look ...Full story available on Benzinga.com