On Friday Wintrust Financial Corporation (NASDAQ:WTFC) traded with change of 2.62% on volume of 267677 shares in the last session as compared to average volume of 355031 shares. During last trade its minimum price was $64.46 and it gained highest price of $65.63. WTFC has total market capitalization of $3712595233. Its closing value stands at $65.49.
On Nov. 1, 2019, Wintrust Financial Corporation (NASDAQ:WTFC) released the completion of its previously announced acquisition of SBC, Incorporated (SBC). SBC is the parent company of Countryside Bank, an Illinois state-chartered bank, which operates six banking offices located in the communities of Countryside, Burbank, Darien, Homer Glen, Oak Brook and Chicago, Illinois. As of October 31, 2019, Countryside Bank had approximately $578 million in assets, approximately $434 million in loans and approximately $501 million in deposits.
Edward J. Wehmer, President and CEO of Wintrust, said, This transaction further develops our market presence in the western suburbs of the Chicago metropolitan area. Countryside Bank has a long history of providing outstanding customer service using a community banking approach. We look forward to continuing that tradition and to providing its customers with an expanded array of products, services and resources.
John D. Wheeler, SBC’s President & CEO, stated, Countryside Bank’s motto is ‘It’s Grow Time’ and this partnership will continue that promise. We are excited about combining resources with Wintrust, with its financial capabilities to support further expansion, and continuing to offer highly personalized banking services. Mr. Wheeler emphasized that by joining forces with Wintrust, the transaction allows us to continue focusing on serving our customers, while becoming part of a larger successful Chicagoland banking organization. We clearly see benefits for our customers.
Cheyenne Cox is a news report covering multiple Market and economy News. She is creative and highly professional writer. Cheyenne holds a degree in communication and journalism and has also a Diploma in digital marketing. She belongs to south Africa who has also lived in Europe and is currently based in the US.