First Midwest Bancorp in Itasca, Ill., has agreed to buy Standard Bancshares in Hickory Hills, Ill.

The $10.7 billion-asset First Midwest said in a press release late Tuesday that it will pay $365 million in stock for the $2.5 billion-asset Standard. The deal, which is expected to close by early next year, values Standard at 135% of its tangible book value.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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