Wintrust to Buy Community Financial in Illinois

Wintrust Financial in Rosemont, Ill., has agreed to buy Community Financial Shares in Wheaton, Ill.

The $20 billion-asset Wintrust will pay $42 million in cash and stock for the $343 million-asset Community Financial. The deal is expected to close in the second quarter.

"This transaction provides a wonderful opportunity to expand and complement our existing market presence in the communities of Wheaton and Glen Ellyn" in Illinois, Edward Wehmer, Wintrust's president and chief executive, said in a press release Monday.

FIG Partners and Godfrey & Kahn advised Community Financial, and D.A. Davidson provided a fairness opinion. Schiff Hardin advised Wintrust.

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M&A Community banking Illinois
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