Hoping to capitalize on the population boom in a nearby Chicago exurb, First Midwest Bancorp is planning to buy a banking company in McHenry, Ill., for about $105 million.

First Midwest, a $3.1 billion-asset company, has announced its intention to acquire SparBank Inc., a $445 million-asset banking company. And SparBank's shareholders have approved the deal.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.