STC is the parent company of STC Capital Bank, an Illinois state-chartered bank, which operates five banking offices in Illinois. As of June 30, 2019, 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. 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,” said Edward J. Wehmer, president and CEO of Wintrust.
The aggregate purchase price to STC shareholders is approximately $46.7 million.
D.A. Davidson acted as exclusive financial advisor to STC in the transaction and provided a fairness opinion to its board of directors. Barack Ferrazzano Kirschbaum & Nagelberg acted as STC’s transaction counsel, and Schiff Hardin served as transaction counsel to
Wintrust is a financial holding company with assets of approximately $34 billion. Wintrust operates 15 community bank subsidiaries with more than 170 banking locations located in the greater Chicago and southern Wisconsin market areas.