Chicago's PrivateBancorp has a deal to buy the Illinois operations of Johnson International, a Racine, Wis.-based bank holding company.

PrivateBancorp, with $458 million of assets, is to buy two suburban Chicago branches and $112 million of assets for $20 million -- $15 million in cash and $5 million in subordinated notes. The deal is expected to be competed by yearend.

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