Business & Tech

First Midwest to Buy Old National/Integra Deposits, Branch Bank

The deal, expected to close in December, does not include loans or branches besides the one in Plainfield.

First Midwest Bank has agreed to purchase the suburban Chicago assets of , and will purchase the Plainfield bank branch at 2320 S. Route 59, according to a media release issued Thursday.

The deal includes all of the deposits currently serviced through Old National's Plainfield, Bridgeview and Mokena branch locations, all of which were part of Integra Bank until Old National Bank acquired them through a recent FDIC-assisted purchase, the release said.

However, the company will not be purchasing any of the loans made through Old National.

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The transaction involves about $185 million in deposits, and is expected to close in early December.

"We are very pleased to have the opportunity to service clients of the former Integra branches here in suburban Chicago and assure them that their deposits and business affairs are in strong and trusted hands," said Michael L. Scudder, First Midwest Bank chairman and chief executive officer.

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