Old Kent Financial Corp. would boost its presence in Chicago with a deal to buy Pinnacle Banc Group of Oak Brook, Ill., for about $243 million in stock.

The deal, scheduled to close in the third quarter, is the second in less than a month announced by Old Kent of Grand Rapids, Mich. The company said in February it would buy $900 million-asset CFSB Bancorp of Lansing, Mich.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.