CHICAGO - LaSalle Bank said last week it had acquired all of American National Bank and Trust Co.'s open land trust accounts.
Chicago-based LaSalle, which has $44 billion of assets, said the deal took effect in April and made the banking company the largest land trustee in Illinois, with 49,000 trusts. American National said it is getting out of the land trust business.
"With this acquisition, LaSalle reaffirms its commitment to the land trust business and serving the Chicago real estate community," said Randall Hampton, executive vice president of institutional trust services at the banking company.
LaSalle, a subsidiary of ABN Amro, said it is now reviewing which suburban Chicago offices should have land trust officers assigned.