Wintrust Financial (WTFC) has struck again.
The serial acquirer in Rosemont, Ill., announced Wednesday that it has agreed to buy the $165 million-asset Diamond Bancorp, which has a branch on Chicago's north side and three branches in its northern suburbs.
Wintrust said in a press release that it would pay cash; it withheld the price and other financial details.
"This transaction provides a great opportunity to expand our presence on the north side of the city of Chicago and to supplement our suburban franchise," Wintrust Chief Executive Edward J. Wehmer said in a press release.
The deal is expected to close by early in the fourth quarter, and Wintrust does not expect the deal to have a material effect on its 2013 earnings.
In the last few years Wintrust has acquired several failed and open banks across the greater Chicago area. Wehmer has been vocal about wanting to do more deals, too. Its most recent acquisition was the $365 million-asset First Lansing Bancorp; that deal closed on May 1.