Byline Bancorp Acquires Illinois State Bancorp in Chicago Consolidation Move
What happened
Byline Bancorp announced the acquisition of Illinois State Bancorp for approximately $87.9 million, using a combination of cash and stock. Illinois State Bancorp is the holding company for First Nations Bank and the Bank of Bourbonnais. The deal is expected to close in the first quarter of 2027.
From americanbanker.com
Why it matters
The acquisition will push Byline Bancorp's asset base over $10 billion and add four branches in the Chicago area. This move contributes to the consolidation of the banking market in Chicago, where the pace of such deals has been slow.
From americanbanker.com
Who's involved
- Byline BankBank based in Chicago, which is the subject of the acquisition.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Byline BankSpeculative
The acquisition could increase Byline Bank's assets and market share.
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The entities involved
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First Financial Bancorp
American bank holding company
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Byline Bank
bank based in Chicago
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