American Chartered Bancorp

Nov 23, 2015

"Following" : "Follow"}} November 22, 2015 6:06pm   Comments Share: MB Financial, Inc. ("MB Financial") (Nasdaq: MBFI ) and American Chartered Bancorp, Inc. ("American Chartered") announced the signing of a definitive merger agreement whereby MB Financial will acquire American Chartered and its wholly owned bank subsidiary, American Chartered Bank, in a stock and cash transaction valued at approximately $449 million, or $9.30 per share. Founded in 1987, American Chartered is a privately-held commercial bank focused on serving Chicago's middle-market and emerging middle-market business community. American Chartered operates 15 banking offices and has approximately $2.8 billion in total assets, $2.2 billion in deposits, of which half are non-interest-bearing, and $2.0 billion in loans. The acquisition will add significant scale to MB Financial's commercial banking business while also expanding MB Financial's core deposit franchise. "The acquisition of American Chartered is consistent with our mission of building Chicagoland's premier commercial bank. American Chartered brings a strong middle-market commercial banking lending team and client base, an unparalleled core deposit franchise and a proven track record of profitable organic growth. We look forward to welcoming American Chartered customers and employees to MB Financial," stated Mitchell Feiger, President and Chief Executive Officer of MB Financial.