Wintrust Financial (WTFC) in Rosemont, Ill., has agreed to buy the Pewaukee, Wis., branch of The National Bank.
Wintrust's Town Bank will receive $40 million in deposits and $90 billion in loans, the company said in a press release Monday. Additional financial terms of the transaction were not disclosed. The deal is expected to close in the third quarter.
The National Bank, based in Moline, Ill., will exit Wisconsin by selling the branch. The $880 million-asset bank is a unit of Triumph Holding in Dallas. The bank has 21 branches in Illinois and four in Iowa.
The $917 million-asset Town Bank, based in Hartland, Wis., has seven branches in Wisconsin.