Business

MB Financial to buy American Chartered: report

By Sun-Times staff

MB Financial is expected to soon announce a deal to buy American Chartered Bank.

Chicago’s MB Financial will pay about $430 million for the privately held parent of American Chartered, which is based in Schaumburg, Crain’s Chicago Business reported Sunday, citing unnamed sources.

MB Financial has assets of nearly $15 billion; American Chartered has assets of about $2.6 billion.

An announcement could come as soon as Monday, Crain’s said.

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