Wintrust Financial in Rosemont, Ill., has bought certain assets of American Homestead Mortgage in Kalispell, Mont.
The $25.7 billion-asset company said in a press release Wednesday that one of its units will also buy certain liabilities tied to American Homestead’s mortgage banking business. The company did not disclose the price it paid.
The acquisition allows Wintrust Mortgage to move into northern Montana. American Homestead, formed in 1993, originated nearly $55 million in loans last year.
Wintrust will bring on all of American Homestead’s employees.