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AURORA, IL / ACCESSWIRE / December 1, 2021 / Old Second Bancorp, Inc. (NASDAQ:OSBC) ("Old Second") announced today that it has completed its previously announced merger with West Suburban Bancorp, Inc.
Old Second National Bank and West Suburban Bank plan to merge Aurora-based Old Second Bancorp Inc., parent company of Old Second National Bank, plans to merge with Lombard-based West Suburban Bancorp Inc. in a cash-and-stock deal valued at $297 million. DAILY HERALD FILE PHOTO Old Second National Bank and West Suburban Bank announced plans Monday to merge. Aurora-based Old Second Bancorp Inc. is to acquire Lombard-based West Suburban Bancorp Inc. in a cash-and-stock deal valued at $297 million. The board of directors of both parent companies unanimously agreed to the merger a...
The largest deal for a privately held local bank in nearly five years is brewing. The parent of Lombard-based West Suburban Bank, the second-largest privately owned bank in the area, is seeking a buyer, according to multiple sources. more At nearly $3 billion in assets and with more than 40 branches sprinkled throughout the western suburbs, the bank could fetch $360 million or more. That would amount to about 1.5 times its book value at the end of the first quarter. West Suburban is one of a dwindling breed on the Chicago banking scene—a privately held bank large enough to provide a meaning...