KALAMAZOO, Mich. -- First of America Bank Corp. said it has agreed to acquire LGF Bancorp of LaGrange, Ill., in a stock swap valued at $67 million.
LGF and its subsidiary, LaGrange Federal Savings and Loan, have $409 million of assets and offices in LaGrange, LaGrange Park, Countryside, and Naperville.
Richard D. Klein, vice chairman of First of America, said the deal would boost the Michigan bank's growing office network in the Chicago suburban market.
First of America operates nine banks in Illinois, with more than $7 billion of assets.
Overall, First of America has more than $21 billion of assets, with offices in Michigan, Indiana, and Illinois.