Wintrust Financial Corp. (WTFC) announced an agreement to acquire Delavan Bancshares, Inc. Subject to possible adjustment, the aggregate purchase price will approximate $38 million. Wintrust noted that the transaction is not expected to have a material effect on its 2015 earnings per share.
Delavan is the parent company of Community Bank CBD, a Wisconsin state chartered bank, which operates four banking locations in southeastern Wisconsin. Wintrust said the deal provides an opportunity to expand and complement its growing market presence in southeastern Wisconsin.
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