Published on 16 Apr 2024 on Banking Dive via Yahoo Finance
Wintrust to buy Michigan’s Macatawa Bank in $510M deal
Dive Brief:
Wintrust Financial has agreed to buy Holland, Michigan-based Macatawa Bank in an all-stock deal worth an estimated $510.3 million, the companies announced Monday.The transaction, expected to close in the second half of this year, would give Rosemont, Illinois-based Wintrust a brick-and-mortar footprint in Michigan, including Grand Rapids, for the first time.Adding Macatawa would push Wintrust’s branch total to nearly 200 and its assets to the brink of $60 billion.
Dive Insight: