ST. CHARLES – Wintrust Financial Corporation on Oct. 7 announced the completion of its previously announced acquisition of STC Bancshares Corp.
STC Banshares Corp. is the parent company of STC Capital Bank, an Illinois state-chartered bank, which operates five banking offices located in St. Charles, Geneva and South Elgin. As of June 30, STC Capital Bank had approximately $275 million in assets, approximately $190 million in loans and approximately $244 million in deposits.
“This transaction expands and complements our market presence in the western suburbs of the Chicago metropolitan area," Wintrust President and CEO Edward Wehmer said in a news release from Wintrust Financial Corporation. "STC Capital Bank has a wonderful reputation for 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.”
STC Chairman Anthony Sisto also was enthusiastic about the agreement.
“We are very pleased to complete the transaction and join forces with Wintrust,” he said in the release. “We see tremendous benefits to this new partnership with a financial organization that is similarly-minded in their philosophy of offering highly personalized customer-oriented banking services with financial capabilities to support further expansion.
STC President Christopher Woelffer added that, “By joining forces with Wintrust, STC Capital Bank’s customers will not only retain very high levels of customer service but will also gain access to a wider range of products and services.”
Wintrust is a financial holding company with assets of approximately $34 billion whose common stock is traded on the Nasdaq Global Select Market.