The Hardest-Working Paper in America | 
Friday, April 26, 2024
Business

MB Financial to acquire American Chartered in $449M deal

By  Bill Ruminski
   
SHARE MB Financial to acquire American Chartered in $449M deal
mbfinancial.jpg

MB Financial Inc. and American Chartered Bancorp announced a $449 million merger deal.

Chicago-based MB Financial said the deal will significantly increase its commercial banking business. Schaumburg-based American Chartered, a privately held bank with about $2.8 billion in assets, has focused on middle-market businesses. American Chartered operates 15 offices.

MB Financial has about $15 billion in assets.

“The acquisition of American Chartered is consistent with our mission of building Chicagoland’s premier commercial bank,” MB Financial president and CEO Mitchell Feiger said in a news release.

MB Financial will pay about $100 million in cash and the rest in stock.

The companies expect to complete the merger by June 30.

Next Up In Business
Netflix looks to curb password sharing, considers ads
Food packager plans to build a new plant, add jobs on the South Side
Putin’s pollock: U.S. seafood imports fuel Russian war machine
Democrat Giannoulias in the driver’s seat in race for campaign cash in hotly contested secretary of state contest
New HIRE360 small-business development center receives $3 million investment
Chicago casino sites gain critics on the City Council
The Latest
Renderings of the proposed new Bears stadium
Bears Stadium
Bears stadium costs? Add another $1.2 billion
The Bears put the figure at $4.7 billion. But a state official says the tally to taxpayers goes even higher when you include the cost of refinancing existing debt.
By Fran Spielman and Mitchell Armentrout
 
Cook County Democrats selected Monica Gordon on Friday to appear on the November ballot as the party's nominee for Cook County Clerk in a special election.
Politics
Cook County Democratic leaders pick Monica Gordon to run for Cook County Clerk
Gordon will run in the November general election to fill the rest of the late Karen Yarbrough’s term as Cook County Clerk.
By Kristen Schorsch | WBEZ Chicago
 
Chicago Cubs' broadcaster Harry Caray sings "Take Me Out To The Ballgame" during the seventh inning stretch at Chicago's Wrigley Field in 1989.
Columnists
Why did Harry Caray always say ‘Holy Cow?’ It could be linked to a 1930s flying bovine. No bull!
In 1930, a 15-year-old Harry Caray was living in St. Louis when the city hosted an aircraft exhibition honoring aviator Charles Lindbergh. “The ‘first ever’ cow to fly in an airplane was introduced at the exhibition,” said Grant DePorter, Harry Caray restaurants manager. “She became the most famous cow in the world at the time and is still listed among the most famous bovines along with Mrs. O’Leary’s cow and ‘Elsie the cow.’”
By Michael Sneed
 
Rome Odunze
Bears
A day later, Rome Odunze's pairing with Bears still 'surreal'
Rome Odunze can keep the group chat saved in his phone for a while longer.
By Patrick Finley
 
IMG_3006.jpg
Bears
Bears QB Caleb Williams arrives at Halas Hall embracing enormous expectations
“What’s there to duck?” he responded when asked about the pressure he’ll be under in Chicago.
By Jason Lieser