Wintrust, which has branches in Dyer, Lansing, and the south suburbs, has acquired a branch of PyraMax Bank in Wisconsin for an undisclosed sum.
Wintrust's subsidiary Town Bank acquired a bank branch at 1605 W. Mitchell Street in Milwaukee.
“This transaction provides a terrific opportunity to expand our presence in the city of Milwaukee," Town Bank President and CEO Jay Mack said. "We look forward to continuing to build upon the franchise that PyraMax Bank established and to providing its customers with an expanded array of products and services.”
PryaMax Bank President and CEO Richard Hurd said that the transaction will let the Greenfield, Wisconsin-based bank focus on its primary markets, that Wintrust was a good buyer for that branch, and that it would work to ensure a smooth transition for customers.
The branch's employees will join Wintrust, a publicly traded bank with $30 billion in assets, and more than 160 branches across greater Chicagoland.