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Old Second Bancorp to Acquire First Merchants' 5 Branches in Illinois

Aug 28, 2024, 2:02 PM EDT1 sourcesAI-analyzed

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OSBC to acquire five Illinois branches for $23 million. Deal includes $304 million in deposits, $12 million in loans. Acquisition strengthens OSBC's position in the Chicagoland market. Expected completion by 2024 pending regulatory approvals. Previous acquisitions support OSBC's growth strategy in Illinois.

  • OSBC to acquire five Illinois branches for $23 million.
  • Deal includes $304 million in deposits, $12 million in loans.
  • Acquisition strengthens OSBC's position in the Chicagoland market.
  • Expected completion by 2024 pending regulatory approvals.
  • Previous acquisitions support OSBC's growth strategy in Illinois.

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