In Brief: First Banks to Acquire TeamCo of Illinois

First Banks Inc. in St. Louis announced Thursday that it has a deal to acquire TeamCo Inc., of Oak Lawn, Ill., for $13.9 million in cash.

TeamCo is the $69 million-asset parent of Oak Lawn Bank. The deal would give the $9.4 billion-asset First Banks two branches to add to its 26 in the Chicago metropolitan area.

First Banks has been an active acquirer of late. This year it has bought three banks, and it last month announced that it is buying the $92.4 million-asset San Diego Community Bank of Chula Vista, Calif., for $25.5 million in cash.

The deal for TeamCo, expected to close next quarter, works out to about 2.4 times the seller's book value.