Chicago-area banks reportedly in merger talks
Byline Bancorp in Chicago is reportedly in talks to buy Parkway Bank and Trust in Harwood Heights, Ill.
At $5.4 billion in assets, Byline is nearly twice the size of Parkway. If a deal is struck it would be the biggest bank acquisition in Chicago this year, according to a July 26 report by Crain's Chicago Business.
Erin O'Neill, Byline's director of marketing, said in an email that the company does not comment on market speculation.
The price is unlikely to be much more than Parkway's tangible book value, which stood at $263 million on March 31, Crain's said, citing unnamed sources familiar with the talks.
Byline has been an active acquirer recently. In April it purchased the $325 million-asset Oak Park River Forest Bankshares.