International Bank of Chicago has completed the acquisition of certain assets and liabilities and the banking operations of Premier Bank. The deal was closed in a FDIC-assisted transaction. Premier Bank, which presently operates two locations in Illinois, had nearly $269 million in total assets and $199 million in total deposits as of December 31.
This is the second deal for the buyer, which previously bought the Des Plaines-based All American Bank in October 2011. On the transaction, John F Purtill from Meltzer, Purtill & Stelle Inc was the buyer's legal advisor, while Eugene B Katz from Hovde Financial Inc was the financial advisor.
You can read more on Financial and Business Updates from our Experts:- Mergers and Acquisitions
Original Source: Premier Bank
This is the second deal for the buyer, which previously bought the Des Plaines-based All American Bank in October 2011. On the transaction, John F Purtill from Meltzer, Purtill & Stelle Inc was the buyer's legal advisor, while Eugene B Katz from Hovde Financial Inc was the financial advisor.
You can read more on Financial and Business Updates from our Experts:- Mergers and Acquisitions
Original Source: Premier Bank
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