Wintrust Financial has completed its previously announced acquisition of North Bank by its wholly-owned subsidiary, Wintrust Bank.
Wintrust Financial agreed to acquire Illinois-based North Bank for about $17m in March this year.
Following the deal, the two downtown Chicago locations of North Bank will operate as branches of Wintrust Bank.
As of 31 March 2015, North Bank had approximately $106m in assets, approximately $55m in loans and approximately $94m in deposits.
Wintrust president and CEO Edward Wehmer said: "This transaction allows us to expand and complement our growing market presence in downtown Chicago. We look forward to continuing with the community banking approach that North Bank has established and to providing its customer base with an expanded array of products and services."
Wintrust said that the transaction will not have a material effect on its 2015 earnings per share.